News
Chinese EV manufacturer Xpeng pursues US IPO
Xpeng Motors, a Chinese electric vehicle (EV) manufacturer backed by Alibaba Group and several PE and VC firms, has filed for a US IPO.
Chinese chip design company Brite raises $50m
Chinese integrated circuit (IC) design company Brite Semiconductor, has raised a RMB350 million ($50 million) Series D round led by Haitong Securities and sector specialist Sunic Capital.
PAI Capital invests $212m in Chinese video display business
PAI Capital, a Hong Kong and London-based asset manager that primarily caters to high net worth individuals (HNWIs), has paid RMB1.45 billion ($212 million) for a 24.22% stake in Vtron Group, a Shenzhen-listed video display systems manufacturer.
VinaCapital completes exit from Vietnam dairy producer
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners have sold the remainder of their interest in Vietnamese dairy producer International Dairy Products (IDP).
China Resources consortium buys Hong Kong’s City Super
A consortium led by China Resources Capital (CR Capital) has agreed to acquire a 65% stake in Hong Kong retail and supermarket operator City Super Group.
India used car platform Spinny acquires rival Truebil
Indian online used car marketplace Spinny has acquired local counterpart Truebil, setting up several venture capital exits.
Huagai leads $43m round for China antibiotics developer
China-focused private equity firm Huagai Capital has a led a RMB300 million ($43 million) Series D round for antibiotics developer MicuRX Pharmaceuticals.
Globis joins $32.6m round for Japan's Photosynth
Globis Capital Partners has joined a JPY3.5 billion ($32.6 million) Series C round for Photosynth, a Japanese internet-of-things (IoT) developer specializing in smart locks for office buildings.
Korea, US-based serialized fiction app gets $63m
SoftBank Ventures Asia and Kakao have led a $63.2 million Series A round for Radish, a Korea and US-based producer and broadcaster of serialized fiction for mobile devices.
OMERS loses Asia private equity head
David Payne, who has led Asia private equity coverage at Ontario Municipal Employees Retirement System (OMERS) for two-and-a-half years, has left the firm.
India's Byju's acquires online coding school
Byju’s, an Indian online learning platform backed by several PE and VC firms, has acquired WhiteHat Jr, a platform that helps students learn to code.
Tencent leads $360m round for China fresh produce retailer
Chinese fresh produce retailer Yipin Shengxian has raised a RMB2.5 billion ($360 million) Series C round led by Tencent Holdings and Capital Today. Eastern Bell Venture Capital re-upped.
Gobi backs Singapore e-commerce acquisition
China’s Gobi Partners is leading a consortium that will acquire the e-commerce services business of Singapore-based Synagie for S$61.6 million ($44.8 million).
BRI invests Indonesia fintech player Ayoconnect
BRI Ventures, the newly launched VC unit of Bank Rakyat Indonesia, has joined a $5 million pre-Series B round for local financial technology provider Ayoconnect.
Intudo leads Series A for Indonesia restaurant app
Wahyoo, a digital solutions provider for Indonesian eateries, has raised $5 million in a Series A round led by Intudo Ventures.
China's Sherpa closes debut US dollar fund at $200m
Sherpa Healthcare Partners, founded by former healthcare heads at Legend Capital, has closed its first US dollar fund at $200 million.
Navis exits Malaysian business solutions player
Navis Capital Partners has sold its controlling stake in Malaysian IT firm Strateq to a local subsidiary of Singapore telecommunications company StarHub.
Legend leads $20m Series B for China's Exegenesis Bio
Chinese gene therapy specialist Exegenesis Bio has received $20 million in Series B funding led by Legend Capital. It will be used to support clinical development of the company’s drug portfolio.
Chinese EV maker Xpeng raises another $300m
Alibaba Group has led a $300 million round for Chinese electric vehicle (EV) manufacturer Xpeng Motors. It comes barely two weeks after the company closed an extended Series C round of $500 million.
EDBI backs US cybersecurity player's Asia push
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Hana invests $85m in Asia renewables platform
Hana Financial has invested KRW100 billion ($85 million) in a portfolio of Korean waste to energy (WTE) projects being developed by Equis Development.
JD.com invests $100m in Hong Kong's Li & Fung
Chinese online retailer JD.com is investing $100 million in Hong Kong's Li & Fung, which recently won support from warehouse investor GLP for a privatization.
Bain sweetens offer for Japan's Nichii Gakkan
Bain Capital has increased its offer price for Tokyo-listed aged care provider Nichii Gakkan – after a Hong Kong hedge fund criticized the board for not doing enough to protect the interests of minority shareholders – valuing the business at JPY122...
China launches $12b National Green Development Fund
China has raised an initial RMB88 billion ($12.6 billion) for the first dedicated environmental fund launched by the central government.