News
BA Capital raises $147m for renminbi fund, hits first close on dollar fund
BA Capital, a Shanghai-based venture capital firm also known as Black Ant Capital, has raised RMB1 billion ($147 million) for its second renminbi-denominated fund.
Ascendent invests $500m in Chinese supermarket retailer
Ascendent Capital Partners has made by far its largest investment to date, committing $500 million to Chinese supermarket retailer Wumart ahead of a planned Hong Kong IPO.
China robotics player Cyclone gets $40m Series B
Matrix Partners China has led a $40 million Series B round for local robotics start-up Cyclone. Other investors include DCM, Lenovo Capital, Source Code Capital, and Renzhi Capital.
Japan gaming start-up raises Series A, hits $1b valuation
Playco, a Japan-headquartered mobile gaming start-up, has simultaneously formally launched operations and become a unicorn, raising $100 million in Series A funding at a valuation of $1 billion.
Iron Pillar leads Series C for Indian after-sales service player
Iron Pillar has led a $23 million Series C round of funding for Servify, an India-headquartered start-up that integrates parties involved in smart device retail with a view to improving customer service experience.
CLSA closes fourth Japan fund at $450m
CLSA Capital Partners (CLSA CP) has closed its fourth Japan mid-market fund at $450 million after approximately three months in the market.
China mobile recycling platform Aihuishou raises $100m
JD.com and Guotai Junan Securities have co-led an extended Series E round of $100 million for Aihuishou, a China-based electronic products recycling platform.
KKR to invest $755m in India's Reliance Retail
KKR has followed up its investment in Jio Platforms, the holding company for a variety of digital assets owned by Reliance Industries, with a INR55.5 billion ($755 million) commitment to the Indian conglomerate’s retail unit.
PAG poised to invest in Australian airline
PAG Asia Capital is in exclusive negotiations over a A$150 million ($109 million) investment in Regional Express Holdings (Rex), an Australian airline that emerged following the collapse of Ansett Airlines.
India gaming platform secures $90m Series C
SIG Asia, RTP Global, MDI Ventures and Pegasus Tech Ventures have led a $90 million Series C round for Mobile Premier League (MPL), an India-based mobile gaming platform.
China EV maker WM Motor raises $1.5b
Chinese electric vehicle (EV) manufacturer WM Motor has raised RMB10 billion ($1.47 billion) in funding led by SAIC Motor and several government investment platforms. It said to be the largest single round in China's EV industry.
CDH, SDIC lead $62m Series C for Virogin Biotech
Virogin Biotech, a drug developer based in China and Canada, has received $62 million in Series C funding led by CDH Invesmtents and a subsidiary of State Development and Investment Corporation (SDIC).
Panlin raises $148m for China VC fund
Shanghai-based venture capital firm Panlin Capital has raised RMB1 billion ($148 million) in its latest early-stage fund having spent about 16 months in the market.
Rise Fund, Swire back Asia plant-based food specialist
The Rise Fund, TPG’s impact investment vehicle, and Hong Kong conglomerate Swire Pacific have led a $70 million round for Green Monday Holdings, a Hong Kong plant-based protein provider.
NSSK sells Japanese manga publisher
NSSK has sold Bunkasha Publishing, a Japanese media group focused on manga comics in both print and digital formats, to local internet content provider Beaglee.
LPs see decoupling as bigger issue than delisting - AVCJ Forum
The long-term implications of US-China decoupling are of greater concern than the prospect of Chinese companies being forced to delist from US stock exchanges, LPs told the AVCJ China Forum.
Australia's BGH backs online travel agent
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
Openspace Ventures hires ex-Providence director
Singapore’s Openspace Ventures has hired Jessica Huang Pouleur (pictured), formerly of Providence Equity Partners and latterly head of Asia M&A for The Walt Disney Company, as an executive director.
Blackstone makes $253m part-exit from India's Essel Propack
The Blackstone Group has made a partial exit from Indian packaging manufacturer Essel Propack (EPL) – which provides the tubes to 40% of the world’s toothpaste – generating proceeds of INR18.6 billion ($253.4 million).
China drug developer Sumgen raises $32m
Addor Capital has led a RMB220 million ($32 million) Series B funding round for Hangzhou-based drug developer Sumgen Biotech.
Panacea leads $40m Series C for China's XWPharma
Healthcare-focused Panacea Venture has led a $40 million Series C round for China’s XWPharma, a neurobiology-focused biotech developer previously known as XW Laboratories.
Tencent backs Chinese healthcare cloud services platform
Kyee Technology, a Chinese digital medical platform has raised RMB430 million ($64 million) in a Series D round led by Tencent Holdings. Other investors include Longmen Capital, Dyee Capital and Royal Sea Capital.
Chinese mouse-based drug testing specialist raises $143m
Biocytogen, a Chinese contract research organization (CRO) that provides genetically-modified mice for drug testing, has raised RMB970 million ($143 million) in an extended tranche of Series D funding.
Japan's 31 Ventures establishes second fund with $81m
Japan-based 31 Ventures, a VC firm established by local investor Global Brain and property developer Mitsui Fudosan, has launched a second fund of JPY8.5 billion ($81 million).