News
Long Hill invests $30m in Chinese O2O pharmacy player
Chinese digital healthcare platform inCarey has raised $30 million in an extended tranche of Series B funding from Long Hill Capital.
DCP pursues $5.6b take-private of China's 51job
DCP Capital Partners has submitted a take-private offer for Chinese online recruitment services platform 51job that values the company at approximately $5.6 billion.
India insurance tech provider raises $60m
Acko, an Indian financial technology start-up touted as the country’s only digital-native insurer, has secured a $60 million investment featuring Amazon and two global insurance providers.
China rebound favors the few - AVCJ Forum
China’s economy has rebounded from COVID-19 faster than most others, but the pandemic has exposed a widening wealth gap in the country, industry participants told the AVCJ China Forum.
Lightspeed establishes Southeast Asia VC team
Lightspeed Venture Partners has formalized its Southeast Asian practice with the nomination of Akshay Bhushan (pictured) as head of a new Singapore office and three additional hires.
Chinese educational platform Lele Ketang raises $40m
Lele Ketang, a Chinese K12 education platform, has raised a $40 million Series C round led by Owl Ventures, the largest education-focused VC in the US.
Asia-focused events platform Airmeet raises $12m
Sequoia Capital India has led a $12 million Series A round for US-based and Asia-focused virtual events platform provider Airmeet.
Naver leads $80m round for Singapore's Carousell
Korean internet conglomerate Naver has led an $80 million round for Singapore’s Carousell, a mobile classifieds marketplace, at a valuation of $900 million.
CLSA acquires Japan fitness club operator
CLSA Capital Partners (CLSA CP) has acquired Japanese 24-hour fitness club operator Worldplus for an undisclosed sum.
GPs join $516m investment in Evergrande's EV unit
Evergrande New Energy Vehicle (NEV), a subsidiary of Chinese real estate developer Evergrande Group, has raised HK$4 billion ($516 million) from investors including Tencent Holdings, Sequoia Capital China, Yunfeng Capital, and Didi Chuxing.
Investcorp increases focus on China healthcare
Investcorp has acquired minority stakes in two Chinese healthcare companies – hospital operator Lu Daopei Medical Group and telemedicine platform WeDoctor – paying undisclosed sums.
India fantasy sports platform raises $225m
TPG – acting through its tech adjacencies strategy – Tiger Global Management, ChrysCapital Partners, and Footpath Ventures have led a $225 million round for Dream Sports, operator of India’s largest fantasy sports platform.
PEP to buy Australian software player for $367m
Australia’s Pacific Equity Partners (PEP) has agreed to acquire 100% of Sydney-listed enterprise software and IT services provider Citadel for A$503 million ($367.5 million).
Joseph Wan leaves Cinven, forms Hong Kong family office
Joseph Wan, previously a Hong Kong-based operating partner for European private equity firm Cinven, has established a multi-family office called Anchor Strategic Partners.
GL Ventures leads $58m Series B in China’s GemPharmatech
GemPharmatech, a Chinese company that provides genetically-modified mice for use in drug tests, has raised RMB400 million ($58.6 million) Series B led by GL Ventures, the VC arm of Hillhouse Capital.
Bain pursues $374m acquisition of Japan pharmacy business
Bain Capital has agreed to acquire Japanese pharmacy chain store operator Kirindo Holdings through a tender offer that values the business at JPY39.7 billion ($374 million).
TPG backs $2b carve-out of Aviva Singapore
TPG Capital has joined a consortium led by Singapore Life (Singlife) that has agreed to acquire the Singapore business of UK insurance giant Aviva for S$2.7 billion ($2 billion).
Sequoia joins $30m Series C for India's Groww
Groww, a financial technology start-up considered the largest retail brokerage in India, has closed a $30 million Series C round with support from Sequoia Capital India.
Baring to buy IT outsourcing player Virtusa for $2b
Baring Private Equity Asia has agreed to buy Virtusa, a global business consulting and IT outsourcing company with major delivery centers in India and Sri Lanka, for approximately $2 billion.
DCP invests $283m in Chinese diabetes treatment player
DCP Capital Partners has acquired a 9% stake in Tonghua Dongbao Pharmaceutical, a Chinese pharmaceutical company specializing in diabetes treatment, for RMB1.94 billion ($283.7 million).
China Renaissance closes third US dollar fund at $600m
China Renaissance has closed the third US dollar-denominated fund under its flagship Huaxing Growth Capital private equity platform at $600 million.
Bain's Asia data center platform seeks US listing
Chindata Group Holdings, which claims to be the largest player in emerging markets Asia’s carrier-neutral hyperscale data center industry in terms of capacity in service, has filed for an IPO.
Tiger, Temasek commit $160m to India's Zomato
Tiger Global Management and Temasek Holdings have contributed $160 million to an ongoing Series J round for India-based food delivery company Zomato.
Temasek sees portfolio shrink, ups investment pace
Temasek Holdings has deployed a record S$32 billion ($23.3 billion) in the past year – with technology and healthcare the main beneficiaries – even as the impact of COVID-19 saw its overall portfolio shrink in value for the first time since 2016.