News
Singapore T-cell therapist gets China government funding
Singaporean T-cell immunotherapy company Lion TCR has raised USD 40m in its second tranche of Series B funding. Guangzhou Industrial Investment and Capital Operation Holding Group led the round.
OTPP promotes Bruce Crane to Asia head
Ontario Teachers' Pension Plan (OTPP) has appointed Bruce Crane as executive managing director and head of Asia Pacific following the retirement of Ben Chan earlier this month.
Global dealmakers highlight private credit, continuation funds – AVCJ Forum
Private credit and secondary continuation funds have emerged as popular themes globally as high interest rates, geopolitical tensions, and macro uncertainty persist, GPs told the AVCJ Private Equity & Venture Forum Japan 2023.
China ride hailing platform Ruqi Mobility secures $117m
Ruqi Mobility, a ride-hailing platform incubated by Chinese state-backed automaker GAC Group, has raised CNY 842m (USD 117m) in a Series B funding round led by Guangzhou Automobile Industry Group.
Japan's Terra Motors raises $28m
Japanese electric vehicle (EV) start-up Terra Motors has raised JPY 40bn (USD 28m) in Series C funding featuring Silicon Valley-based Pegasus Tech Ventures.
VC-backed Chinese O2O retail platform pursues HK listing
Dmall, a Chinese O2O retail platform provider for traditional retailers backed by IDG Capital among others, has filed for a Hong Kong IPO.
Japan SME fintech player raises $17m
Japan’s Olta, a financial technology provider for small to medium-sized enterprises (SMEs) has raised JPY 2.5bn (USD 17.6m) in Series B funding featuring SBI Investment, Spiral Capital, and DG Ventures.
Illuminate Financial closes $235m VC fund, targets Asia
Illuminate Financial, a UK-headquartered GP with a base in Singapore, has closed its third fintech VC fund on USD 235m amidst plans to expand activity in the region.
China e-commerce SaaS player files for Hong Kong IPO
Jushuitan, which claims to be China’s largest e-commerce software-as-a-service (SaaS) enterprise resource planning (ERP) provider, has filed for a Hong Kong IPO.
Japan's Integral buys UPT from Advantage, sells BTC to Capgemini
Japanese middle market private equity firm Integral Corporation has acquired United Precision Technologies (UPT), which supplies components used in smart devices, from Advantage Partners and sold IT consulting business BTC to Capgemini.
KKR sells minority stake in Japan's Kokusai to QIA
KKR has made a partial exit from Kokusai Electric, a Japan-based semiconductor industry supplier, through the sale of a minority stake to Qatar Investment Authority (QIA).
Australia's Challenger Funds acquires stake in Proterra Asia
Challenger Funds Management, one of the largest active asset managers in Australia, has acquired a stake in Singapore-based PE firm Proterra Investment Partners Asia from Australia’s Pacific Current Group.
Japan advertising AI start-up Flux raises $32m Series B
DNX Ventures has led a JPY 4.4bn (USD 32m) Series B round for Japan’s Flux, which helps businesses manage advertising strategies via a no-code artificial intelligence (AI) platform.
China UAV developer United Aircraft raises $167m
United Aircraft, a Chinese start-up specialising in unmanned aerial vehicles (UAVs), has raised CNY 1.2bn (USD 167m) in Series D funding from several local investors.
KKR shuffles senior roles in Asia
KKR has reorganised its Asia leadership team, with Ming Lu, the firm’s regional head, Hiro Hirano, the co-head of private equity, set to become executive chairman and deputy executive chairman, respectively.
Southeast Asia's Go-Ventures rebrands, raises $240m
Go-Ventures, an early to growth-stage investor established by Southeast Asian super app GoTo, has rebranded as Argor Capital Management and raised USD 240m for its second generation of funds.
China Micro LED developer Jade Bird gets new funding
Jade Bird Display (JBD), a Shanghai-based developer of micro LEDs used in artificial reality (AR) devices, has raised several hundred million renminbi through two tranches of Series A funding.
GIC appoints new Asia private equity head
GIC has named Hwee Loo Tan, a 22-year veteran of the Singapore-based sovereign wealth fund, as head of Asian private equity.
L Catterton extends pet food focus to India
L Catterton’s interest in Asia-based pet food businesses has extended from China to India with a commitment of approximately USD 60m to Drools Pet Food, which claims to be the country’s leading local pet food supplier.
AVCJ daily bulletin returns June 23
AVCJ’s daily bulletin will not be published on June 22 due to a public holiday in Hong Kong.
Japan's Global Brain, Fukoku Life set up $35m VC fund
Japanese VC firm Global Brain has teamed up with Fukoku Mutual Life Insurance to set up a JPY 5bn (USD 35m) fund.
Marcy, Bessemer back New Zealand-founded Chinese tuition platform
Marcy Venture Partners, an investment firm co-founded by US rap artist Jay-Z, and Bessemer Venture Partners have led a Series B round for Wukong Education, a New Zealand-founded teaching platform specialising in Chinese language training.
BPEA EQT, ChrysCapital buy HDFC's India education finance unit
BPEA EQT and ChrysCapital have agreed to acquire a 90% stake in India-based HDFC’s education finance business at a valuation of INR 103.5bn (USD 1.26bn). It has been described as the largest-ever private equity buyout in the country’s financial services...
Indonesia microfinance player Amartha raises $100m
Indonesia’s Amartha, a small business lender focused on rural women entrepreneurs, has raised USD 100m in debt financing from US impact investor Community Investment Management (CIM).