News
Singapore's Indies raises $100m for third PE, credit fund
Indies Capital, a Singapore-based GP focused on Indonesia, has reached a first close of $100 million for its third flagship private equity and credit fund.
EQT revises offer for New Zealand’s Metlifecare
EQT has submitted a revised offer to acquire New Zealand retirement village player Metlifecare at a lower valuation after facing a legal challenge over its attempt to terminate a previously agreed deal.
Chinese online-plus-offline retailer KK Group raises $42m
Chinese retailer KK Group - formerly known as KK Guan - has raised RMB1 billion ($41.6 million) in funding led by CMC Capital. BA Capital and Ince Capital Partners also participated.
Japan's J-Star acquires Pepper Lunch
Japanese private equity firm J-Star has acquired regional restaurant chain Pepper Lunch for an undisclosed sum.
TA Associates invests in Indian stock exchange
TA Associates has invested an undisclosed sum in the National Stock Exchange of India (NSE).
China’s Unity Ventures hits first close on US dollar fund
Chinese venture capital firm Unity Ventures - also known as Jiuhe - has reached a first close of $50 million on its debut US dollar-denominated fund. The vehicle has an overall target of $100 million.
Investigation confirms fraud at China's Luckin Coffee
Private equity-backed Chinese coffee shop chain Luckin Coffee has confirmed earlier suspicions of large-scale financial fraud in its operations, while a proposal to remove the company’s chairman failed to receive enough shareholder support.
Intel Capital to invest $250m in India’s Jio Platforms
Intel Capital has agreed to invest INR18.9 billion ($250 million) in India’s Jio Platforms marking the company’s 12th investment in 11 weeks.
China data storage provider XSKY raises $45m
China-based data storage software services provider XSKY has raised a RMB320 million ($45 million) Series D led by China's State Owned Venture Capital Fund.
China's CF PharmTech raises $50m Series F
CF PharmTech, a Chinese medical devices maker focused on innovative respiratory products, has raised a $50 million Series F round with support from CICC Capital.
China's Gan & Lee Pharmaceuticals gains after A-share debut
Chinese insulin manufacturer Gan & Lee Pharmaceuticals, which counts Qiming Venture Partners and Goldman Sachs among its investors, raised RMB2.5 billion ($354 million) through an A-share IPO.
KKR to buy control of Indian pharma player
KKR has agreed to buy a 54% stake in Indian drug maker J.B. Chemicals & Pharmaceuticals for INR31.1 billion ($416 million) and made an open offer for an additional 26% of the company.
Clime seeks $50m for Southeast Asia clean energy fund
Clime Capital, a newly established cleantech investor based in Singapore, has launched a clean energy fund for Southeast Asia targeting $50 million.
B Capital closes second fund at $820m
B Capital Group, a US-based VC with a presence in Singapore and a significant Asia portfolio, has closed its second global fund at $820 million.
Carlyle invests $235m in Bharti Airtel's India data center unit
The Carlyle Group has announced its third India deal in the space of two months with a $235 million commitment to local telecom operator Bharti Airtel’s data center business, Nxtra Data.
Rise Fund buys solar plants from Chinese developer
The Rise Fund, TPG’s impact investment business, has purchased solar projects with a combined capacity of 970 megawatts from China-based Trina Solar for approximately $700 million.
KIC's private equity head to lead alternatives
Korea Investment Corporation (KIC) has promoted Jong-ho Kim from head of private equity to deputy CIO with a brief to lead its alternative investment group.
PE-backed Hygeia completes $286m Hong Kong IPO
Chinese radiotherapy business Hygeia Healthcare, which counts Warburg Pincus, Boyu Capital, and CITIC Capital among its investors, raised HK$2.22 billion ($286.4 million) in its Hong Kong IPO.
AVCJ daily bulletin returns July 2
AVCJ’s daily bulletin will not be published on July 1 due to a public holiday marking the establishment of the Hong Kong Special Administrative Region.
China smart parking manager raises $42m Series C
Beijing-based smart parking management solution provider AIpark has raised a RMB300 million ($42 million) Series C round led by Gaorong Capital.
PE-owned Australian swimwear brand enters administration
Seafolly, an Australian swimwear and beachwear brand owned by L Catterton Asia, has entered administration, citing the “crippling financial impact” of the COVID-19 pandemic.
MBK-owned Accordia Golf to buy courses from Singapore trust
Japan’s Accordia Golf, which was acquired by MBK Partners in 2017, has agreed a S$804.1 million ($577 million) privatization of a Singapore-listed trust it established six years ago as the holding entity for 88 golf courses.
Lightspeed leads round for Singapore mapping software player
Lightspeed India Partners and Falcon Edge Capital have led a $7 million Series A round for Nextbillion, a Singapore-based provider of artificial intelligence-enabled mapping software solutions.
Lever launches China alternative protein fund
Hong Kong and US-based food technology investor Lever VC has launched a RMB200 million ($28 million) fund dedicated to Chinese plant-based meat start-ups.