News
Indian industry body proposes $3.3b state VC fund for start-ups
The Startup Association of India (SAI) has called on the government to bolster an existing state-backed venture capital fund and commit INR250 billion ($3.3 billion) to local companies.
Chinese autonomous trucking start-up Inceptio raises $100m
Inceptio, a Chinese autonomous driving technology provider focusing on line-haul trucking has raised $100 million. The investors were not disclosed. Previous backers include logistics giant GLP, autonomous car maker Nio, and fleet manager G7.
Go-Jek completes acquisition of VC-backed Moka
Indonesia’s Go-Jek has completed its acquisition of Moka, a local financial technology provider with several VC backers, in a deal estimated to be worth $130 million.
Starbucks to work with Sequoia on China investments
Sequoia Capital China has teamed up with Starbucks to make strategic investments in next-generation food and retail technology companies in the country.
Japan's Jafco raises $67m for debut Taiwan fund
Japanese VC firm Jafco has closed its debut Taiwan fund at approximately NT$2 billion ($67 million) with backing from the National Development Fund of Taiwan and several financial institutions.
Archipelago targets $250m for second Southeast Asia fund
Archipelago Capital Partners is seeking $250 million for its second Southeast Asia fund and has received a proposed $25 million LP commitment from the International Finance Corporation (IFC).
Warburg Pincus, General Atlantic back privatization of China's 58.com
Warburg Pincus and General Atlantic have thrown their support behind Ocean Link’s proposed $7 billion privatization of 58.com, China’s leading online classifieds marketplace.
Coronavirus thwarts PE partial exit from Indonesia's BFI Finance
Italian lender Compass Banca has abandoned its purchase of a 19.9% stake in Indonesia’s BFI Finance from TPG Capital and Northstar Group, citing economic disruption created by the coronavirus outbreak.
Hong Kong’s PE-backed Oriente raises $50m
Oriente, a Hong Kong-headquartered financial technology start-up, has raised $50 million in a round led by Peter Lee, the co-chairman of local property developer Henderson Land.
Singapore’s Circulate Capital makes debut investments
Circulate Capital, a Singapore investor dedicated to ocean pollution management, has made its first investments in two plastic recycling start-ups in India and Indonesia.
Indonesian insurtech player Qoala raises $13.5m Series A
Qoala, an insurance technology start-up in Indonesia, has raised $13.5 million in a Series A round led by Centauri Fund, a vehicle jointly run by KB Investment and MDI Ventures.
Tikehau Capital names NAB's Parekh as Asia head
Tikehau Capital, a French private equity firm expanding in Asia, has appointed Neil Parekh, currently the Asia lead at National Australia Bank (NAB), as its regional head.
Chinese environmental protection business raises $16m
Addor Capital has led a RMB110 million ($15.5 million) Series A round for Shandong-based Pengda Environmental Protection Technology.
ADM raises $630m for Asia credit fund
Hong Kong-based special situations investor ADM Capital has raised $630 million for a credit fund that will target mid-sized companies in Asia.
AVCJ daily bulletin returns May 4
AVCJ's daily bulletin will not be published on April 30-May 1 due to consecutive public holidays in Hong Kong.
Capricorn acquires Hong Kong corporate services player
UK-based family office Capricorn Capital has made its second investment in Asia with the 100% acquisition of Hong Kong corporate services provider Ethos for an undisclosed sum.
RTP Global leads round for Indian B2B agritrading platform
Bijak, an Indian business-to-business (B2B) platform for trading agricultural commodities, has raised $12 million in a Series A funding round led by RTP Global.
Chinese oatmeal brand Wangbaobao gets $14m Series B
Chinese oatmeal brand Wangbaobao has raised approximately RMB100 million ($14 million) in a Series B round led by consumer-focused BA Capital. Existing investors Source Code Capital, Vertex Ventures and Decent Capital re-upped.
Hamilton Lane backs Polaris-led privatization of Japan's Sogo Medical
Hamilton Lane has participated as a co-investor in a Japanese take-private for the first time, supporting a Polaris Capital Group-led tender offer for Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform.
KKR to acquire India solar assets for $204m
KKR has announced plans to acquire five solar energy assets from Shapoorji Pallonji Infrastructure Capital (SP Infra) for INR15.5 billion ($204 million).
Korea's IMM invests $40m in Chinese water business
IMM Investment, a Korea-based GP that focuses on venture capital, mezzanine and infrastructure deals, has committed $40 million to United Water Corporation, a Chinese water and wastewater treatment provider.
Qiming leads round for Chinese display chip provider
Yunyinggu, a Chinese manufacturer of integrated circuits used in flat screen displays, has raised RMB200 million ($28 million) in Series C funding across two tranches.
Indian brewer B9 Beverages raises $20m from Sofina, Sequoia
B9 Beverages, the owner of the Indian beer brand Bira 91, has raised INR1.5 billion ($20 million) in funding from Sequoia Capital India and Belgian investment firm Sofina.
Vietnam e-commerce enabler OnPoint raises $8m
OnPoint, a Vietnam-based start-up that provides corporate clients with e-commerce support services, has raised an $8 million Series A round backed by Korea’s Kiwoom Investment.