News
MasterCard invests India payments player Pine Labs
MasterCard has invested an undisclosed sum in Pine Labs, an Indian payments technology provider backed by PayPal, Temasek Holdings, and Sequoia Capital India.
Bain pursues $824m buyout of Japan's Showa Aircraft Industry
Bain Capital has submitted a tender offer for Showa Aircraft Industries, a Japanese manufacturer that specializes in paneling for aircraft interiors, that values the business at JPY90 billion ($824 million).
Navegar backs Philippines e-commerce enabler
Philippines private equity firm Navegar has invested $12 million in local online retail industry services provider Great Deals E-commerce.
CITIC Capital targets OBOR deals with blank check company
CITIC Capital has launched a special purpose acquisition vehicle (SPAC) – or blank check company – on the New York Stock Exchange to pursue deals under its One Belt One Road (OBOR) strategy.
Northstar seeks $800m for Southeast Asia fund
Northstar Group, a Southeast Asia-focused private equity firm that counts Indonesia as its core market, is looking to raise $800 million for its fifth fund, according to sources familiar with the situation.
Accel, B Capital ride Series D for India's Bounce
Indian scooter rental platform Bounce has raised $105 million in a Series D round led by Accel Partners and B Capital Group.
Centurium leads $100m Series D for China's Yunxuetang
Yunxuetang, an online corporate training services provider focused on China, has raised $100 million in Series D funding led by Centurium Capital. Existing investors Yunfeng Capital and SIG both re-upped.
BGH offers $536m for Australia media group
Australian private equity firm BGH Capital has offered to acquire 100% of Village Roadshow in a deal that values the Sydney-listed media group at around A$783 million ($536 million).
Japan's J-Star agrees IT jobs platform acquisition
Japanese private equity firm J-Star has agreed to acquire Gino, a local IT industry job search platform, for an undisclosed sum.
AVCJ daily bulletin returns January 29
AVCJ's daily bulletin will take a short break for the Lunar New Year holiday. Publication will resume on January 29.
Temasek, EQT back India renewable energy platform
Singapore’s Temasek Holdings and Sweden’s EQT will commit $500 million to the launch and development of O2 Power, a renewable energy platform in India.
Sony Innovation Fund leads Series D for India’s Zoomcar
Indian self-driving rental platform Zoomcar has raised $30 million in Series D funding with a contribution from a Sony-branded fund managed by Innovation Growth Ventures.
Warburg Pincus returns $2b from China portfolio in 2019
Warburg Pincus generated distributions of $2 billion from its China investments last year, a record annual total for its local operation.
SDG-focused platform to pump $500m into emerging markets
Several public sector organizations have committed $500 million to six funds managed by Bamboo Capital Partners under a new investment platform dedicated to achieving the UN sustainable development goals (SDGs).
Japanese professional services marketplace raises $36m
Japanese start-up Minma, which operates P2P jobs and services marketplace Curama, has raised a JPY4 billion ($36.5 million) Series C round led by Nissay Capital, the VC unit of Nippon Life Insurance.
CITIC Capital seeks to increase McDonald's China stake
CITIC Capital is bidding for a 22% stake in the McDonald’s China and Hong Kong business held by CITIC Group, formerly its parent and now one of several shareholders.
Vietnam's Mekong appoints new partner
Vietnam-based Mekong Capital has named Nguyen Thi Minh Giang (pictured, third right) as a partner with responsibility for talent and culture. It brings the number of partners at the firm to four.
True North buys another unit from India's Glenmark
Mumbai-based Glenmark Pharmaceuticals has agreed to sell its gynecology operations in India and Nepal to a True North portfolio company for $16.2 million.
Green Pine leads Series B for Chinese gene testing player
Chinese gene testing business AmCare Genomics Lab has raised RMB110 million ($16 m) in Series B funding led by Green Pine Capital Partners. This comes four months after the company closed an extended Series A round of RMB30 million.
Ares takes controlling stake in Asia's SSG
Ares Management has agreed to buy a controlling stake in SSG Capital, an Asia-focused credit and special situations fund manager with approximately $6.2 billion in assets under management, including $3.9 billion in dry powder.
MassMutual establishes second VC fund for Southeast Asia
US-based Massachusetts Mutual Life Insurance Company (MassMutual) has established a second venture capital fund for Southeast Asia with a corpus of $100 million.
Zomato acquires India business of Uber Eats
Uber’s foray into food delivery in India has come to an end with the sale of the business to local peer Zomato through an all-stock deal.
Baring Asia closes Fund VII at $6.5b
Baring Private Equity Asia has closed its seventh fund with commitments of $6.5 billion. It is the fourth-largest pan-Asian private equity vehicle ever raised.
Centurium backs China logistics player
Centurium Capital has invested $300 million in ANE Logistics, one of the largest LTL (Less-than-truckload) operators in China.