News
Australia's Five V buys security alarm connectivity business
Australia’s Five V Capital has acquired a majority position in Permaconn, a locally based equipment supplier for the security alarm and smart home markets.
China's Qiming joins round for blockchain privacy developer
China's Qiming Venture Partners has participated in a USD 25m Series A for P0x Labs, the developer behind blockchain-based privacy services provider Manta Network.
Bain acquires India's Adani Capital
Bain Capital has agreed to acquire 90% of Indian non-bank financial companies (NBFCs) Adani Capital and Adani Housing in a deal worth at least USD 170m.
Mirae Asset PE arm seeks $200m for Fund II
Maps Capital, a private equity investment arm of Mirae Asset Financial Group, has launched its second US dollar-denominated fund with a target of USD 200m.
Japanese power producer Jera launches $300m VC unit
Japanese power producer and utility Jera has launched a USD 300m venture capital programme aimed at sustainability-themed technology start-ups and related funds.
Strategic co-investors commit to JIP's mega Toshiba buyout
Rohm Semiconductor and Niterra, component suppliers to the semiconductor and automotive industries, respectively, have confirmed their participation in the Japan Industrial Partners-led (JIP) JPY 2trn (USD 15.3bn) tender offer for Toshiba Corporation.
Korean investors pump $150m into fuel cell maker HyAxiom
Korea Investment Private Equity, KDB Investment–Hana Securities, and KB Asset Management have led an investment of approximately USD 150m in HyAxiom, a fuel cell manufacturer controlled by South Korean conglomerate Doosan Group.
Indonesia's Maka Motors raises $37.5m seed round
East Ventures, AC Ventures, and SV Investment have led a USD 37.6m seed round for Maka Motors, an Indonesian electric vehicle (EV) maker in the R&D phase.
Boyu joins $600m round for EV unit of China's Geely
Boyu Capital and Yuexiu Industrial Fund have led a USD 600m Series A round for Farizon Auto, a new energy vehicle (NEV) brand under Chinese automaker Geely.
Eurazeo draws on Asian support for $448m smart city fund
France-based GP Eurazeo won support from several Asian institutional investors for its latest smart city fund, which has closed on EUR 400m (USD 445m). The vehicle is also expected to deploy significantly in the region.
Australia's River Capital targets UK cake shop chain
River Capital, an Australian investment firm that owns speciality cake retailer The Cheesecake Shop, has been rebuffed by the board of UK-based Cake Box Holdings after submitting a buyout offer for the listed company.
Asia fundraising frustrates in first half of 2023
Asia PE fundraising reached USD 60.3bn in the first half of 2023, down 7.6% year-on-year, but the total was still skewed upwards by activity in the renminbi-denominated space. Capital committed to US dollar funds alone was USD 21.8bn, down from USD 48.2bn.
China autonomous driving player HoloMatic raises $42m
HoloMatic, a Chinese autonomous driving start-up, has raised CNY300m (USD 42m) in Series C funding led by GAC Capital and state-owned Guangdong Technology Financial Group.
Japan's Angel Bridge closes third fund on $72m
Japanese early-stage investor Angel Bridge has closed its third fund with JPY 10bn (USD 72m) in commitments from local investors.
Visa backs $72m Series C for Singapore's Thunes
Singapore’s Thunes, a financial technology provider focused on cross-border transfers in developing markets, has raised USD 72m in Series C funding featuring Visa.
Glenwood takes legal action over disputed Korea transaction
An arbitration proceeding has been initiated in Singapore regarding a dispute between Glenwood Private Equity and BPEA EQT over the failed sale of Korea-based industrial films producer PI Advanced Materials.
Warburg Pincus picks SE Asia head for global leadership role
Jeffrey Perlman, who leads Southeast Asia at Warburg Pincus as well as Asia Pacific real estate, will become the firm’s global president in a move described as succession planning.
China’s Qiming appoints Qualcomm investor as venture partner
Qiming Venture Partners has appointed James Shen, previously a managing partner at Qualcomm Ventures, as a venture partner.
Hahn acquires Korea medical devices player
Hahn & Company has acquired a nearly two-thirds stake in Korea-listed medical laser maker Lutronic through a tender offer for about KRW 629bn (USD 497m).
Australia’s Glow buys clothing brand in debut deal
Australia’s Glow Capital has agreed its debut deal, acquiring 51% of Cargo Crew, a local workplace clothing brand specialising in restaurant uniforms.
KKR leads $190m Series C for Korea fashion platform
KKR has led a USD 190m Series C round for Korean online fashion platform Musinsa with support from Wellington Management.
China chip designer Senasic raises $70m
China-based chip company Senasic has raised CNY 500m (USD 70m) in Series D funding led by state-owned Enterprises Mixed Ownership Reform Fund.
Sujoy Bose exits leadership role of India's NIIF
Sujoy Bose has left India’s National Investment & Infrastructure Fund (NIIF), having served as CEO of the organisation since its inception in 2016.
Ares to buy Asia's Crescent Point
Crescent Point Capital, a China and Southeast Asia-focused private equity firm with around USD 3.8bn in assets under management (AUM), has agreed to a 100% acquisition by Ares Management.