News
India looks to expand scope of Chinese app ban
India has banned 47 more Chinese apps - saying they are clones of earlier outlawed products - and there are expectations that the crackdown could extend even further.
Probe into death of Indian founder reveals PE link
An investigation into the apparent suicide of V.G. Siddhartha, founder of Indian coffee chain Café Coffee Day, has revealed that a promise of guaranteed returns to private equity investors might have contributed to the entrepreneur's untimely demise....
Chinese IT infrastructure player SmartX raises $28m
SmartX, a Chinese enterprise cloud services provider, has closed an extended tranche of its Series B round as well as a Series C round, raising RMB200 million ($28 million) in total.
Australia's Square Peg backs Singapore wealth manager
Australian VC firm Square Peg Capital has led a $16 million Series C round for StashAway, a Singapore-based digital financial services provider focused on retail wealth management.
Korean AI education start-up gets $41m pre-Series D
Korea Development Bank (KDB) and local private equity firms Nvestor, Intervest and IMM Investment have participated in a $41.8 million pre-Series D round for Riiid, a Korean online education platform.
Steadview backs India SaaS player Freshworks
Steadview Capital has invested $85 million in India and US-based cloud business software developer Freshworks through the purchase of shares from existing investors.
Healthcare investors warn Asia unprepared for winter - AVCJ Forum
Private equity professionals focusing on healthcare told the AVCJ Southeast Asia Virtual Forum that COVID-19’s full impact has yet to be understood. The private and public sectors will need to work together to see out a difficult year.
Chinese online fresh produce retailer Miss Fresh gets $495m
Chinese online grocer Miss Fresh has raised $495 million in funding - said to be the largest private round ever seen in the country's fresh produce industry.
Warburg Pincus leads Series B for China's Haihe Pharmaceutical
Warburg Pincus has led a RMB1.2 billion ($171 million) Series B round for Haihe Pharmaceutical, a Chinese cancer drug developer that currently has four treatments in stage-three clinical trials or beyond.
CPE, GDS team up on China data center project
CPE - formerly CITIC Private Equity - and GDS Holdings have jointly acquired a greenfield data center project in China that will represent a RMB2.6 billion ($371 million) investment upon completion.
Korean strategic, financial investors back industrial AI start-up
MakinaRocks, a Korean artificial intelligence (AI) start-up that helps manufacturers achieve production efficiencies through the application of deep learning technology, has raised KRW12 billion ($10 million) in Series A funding.
LPs call for better communication from Asian GPs - AVCJ Forum
LPs from five global funds say cultural issues and a relative lack of crisis experience have led to difficulties getting quality disclosure from Asian fund managers.
Australia's OneVentures closes credit fund at $57m
OneVentures has reached a final close of A$80 million ($57 million) on a venture debt fund said to be the first and largest vehicle of its kind in Australia.
India payments player Pine Labs invests Malaysia's Fave
Pine Labs, an Indian payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has invested Fave, a Malaysian e-commerce platform also supported by Sequoia.
Trustbridge spin-out Vitalbridge closes debut China fund
Vitalbridge Capital, a Chinese venture capital firm established by Jinjian Zhang, formerly of Trustbridge Partners, has raised $150 million for its debut fund.
Eurazeo, Primavera-owned WorldStrides files for bankruptcy
WorldStrides, a US-based provider of study-abroad programs for high school and university students owned by Eurazeo and Chinese private equity firm Primavera, has filed for bankruptcy protection.
Singapore GPs lead round for Israeli drone scouting start-up
Taranis, an Israel drone-based crop monitoring solution provider for farms, has raised $30 million in a Series C round eyeing expansion opportunities in Asian markets.
ASEAN to see rise in opportunities despite high valuations – AVCJ Forum
Industry professionals at the AVCJ Southeast Asia Virtual Forum predicted a rise in regional acquisition opportunities although valuations remain stubbornly high for now.
Chinese insurers to invest more in equities
Chinese insurance companies will be allowed to increase their equities exposure to up to 45% of total assets - a move that is expected to benefit private equity.
Carlyle co-CEO Glenn Youngkin to retire
Glenn Youngkin will step down as co-CEO of The Carlyle Group in September, with fellow co-CEO Kewsong Lee continuing in the role alone.
OMERS acquires 20% stake in Australia's TransGrid
Canada’s Ontario Municipal Employees Retirement System (OMERS) has bought a 20% stake in Australian electricity network operator TransGrid for an undisclosed sum.
PE-backed Cambricon becomes China's first listed AI chip maker
Beijing-based Cambricon Technology, which is backed by CICC Capital, Alibaba Group, and Lenovo, has listed on the Star Market. It is the first Chinese artificial intelligence (AI) chip manufacturer to complete an IPO.
Singapore marketing SaaS player raises $32m
US-based technology investor Riverwood Capital has led a $32 million Series C round for Insider, a Singapore software start-up that helps companies develop better targeted marketing campaigns.
Indian agritech VeGrow secures seed funding
Indian agricultural technology start-up VeGrow raised $2.5 million in a seed funding round led by Ankur Capital and Matrix Partners India.