News
Tech, policy changes the main risks in energy – AVCJ Forum
Technology disruption and short-term policy changes are the two key challenges facing investors in the energy sector, industry participants told the AVCJ Forum.
Keppel Capital takes 50% interest in Pierfront Capital
Singapore-based Keppel Corporation has agreed to buy a 50% interest in Pierfront Capital, an alternative credit investment fund manager controlled by Temasek Holdings.
Pavilion, Gobi lead $18m round for Indonesia's Travelio
Pavilion Capital and Gobi Partners had co-led an $18 million Series B round for Indonesia’s Travelio, an Airbnb-style home rentals start-up.
PE-backed Ping An fintech spin-out pursues US offering
OneConnect Financial Technology, an affiliate of China’s Ping An Insurance backed by the likes of IDG Capital, SBI Group, and SoftBank Vision Fund, has filed to list in the US.
IMM set for 2.3x return from Korea's Tailim Packaging
IMM Private Equity is expected to deliver a 2.3x return on its investment in Tailim Packaging Group following an agreement to sell the cardboard box manufacturer to Sae-A Trading for an enterprise valuation of around $1.5 billion.
Investors cautiously optimistic on China buyouts - AVCJ Forum
The emergence of willing sellers, a pullback in competition from strategic investors, and greater availability of leveraged financing are contributing to more buyout deal flow in China.
India’s Sanaka Capital invests $44m in Edelweiss
Sanaka Capital, an Indian private equity firm established by Shankar Narayanan, formerly co-head of The Carlyle Group's Asia growth team, has agreed to invest $44 million in local financial conglomerate Edelweiss.
LPs going direct 'not a front of mind issue' in Asia - AVCJ Forum
Large institutional investors pursuing direct deals on a solo basis represents a logical evolution of the private equity industry and shouldn’t necessarily be regarded as a threat, Asia-focused buyout managers told the AVCJ Forum.
Fundraising gap impedes mid-market exits – AVCJ Forum
Polarization in fundraising has left middle-market investors with difficult options for realizing exits, according to industry participants at the AVCJ Forum.
China VCs get more selective - AVCJ Forum
Chinese venture capital firms are doubling down on areas in which they have domain expertise as the spectrum of opportunities widens, industry participants told the AVCJ Forum.
GPs see specialization as antidote to challenging market - AVCJ Forum
Investors at the AVCJ Forum offered optimistic outlooks for 2020 but said tighter deal markets would demand specialization in defensive sectors and a closer watch on valuations.
China electric car maker Xpeng closes $400m Series C
Xpeng Motors, a Chinese electric vehicle manufacturer established by Xiaopeng He, previously founder of web browser UCWeb and a senior executive at Alibaba Group, has raised $400 million in Series C funding.
LPs rank attitude higher than policy in ESG – AVCJ Forum
Investing with an environmental, social, and governance (ESG) mindset in Asia is more important than having an ESG policy, LPs told the AVCJ ESG Forum.
Unison agrees $526m Japan pharma carve-out
Unison Capital has agreed to buy Kyowa Pharmaceutical Industry, a Japanese subsidiary of India-headquartered drug manufacturer Lupin for an enterprise valuation of JPY57.4 billion ($526 million).
Korean mobile app market One Store gets $86m
One Store, a Korean mobile app market controlled by SK Telecom, has raised a KRW100 billion ($86 million) round led by local VC firm Kiwoom Investment.
Deal focus: BGH taps LP expertise for Australia, NZ dentistry deal
Ontario Teachers' Pension Plan is the sole LP co-investor in BGH Capital's acquisition of Abano Healthcare by virtue of its previous experience with dentistry chain assets
Primavera raises $3.4b for third China fund
Primavera Capital Group has closed its third China fund at $3.4 billion, having extended the fundraising period by six months.
PAG, Centurium win firm of the year prizes at AVCJ Awards
PAG Asia Capital and Centurium Capital secured the two firm of the year prizes at the 2019 AVCJ Private Equity & Venture Capital Awards, while Renuka Ramnath of India’s Multiples Alternative Asset Management won the AVCJ Special Achievement Award.
Chinese medical device start-up receives $100m
Chinese medical instrument provider Peijia Medical has raised a RMB700 million ($100 million) Series C round from a group including Matrix Partners China and Lilly Asia Ventures.
Alibaba invests $3.3b in logistics affiliate Cainiao
Alibaba Group has enlarged a controlling stake in its PE-backed shipping affiliate Cainiao Smart Logistics Network with a $3.3 billion investment.
TPG leads $32m round for India bank
TPG Capital has led a INR2.2 billion ($32 million) funding round for India's Jana Small Finance Bank, which focuses on financial inclusion through digital services.
Japan's WealthNavi secures $37m funding round
A fund launched by Sony Financial Ventures and Global Brain is among the participants in a JPY4.1 billion ($37.5 million) funding round for Japanese financial technology start-up WealthNavi.
China's Qingke trades up on debut after smaller than expected IPO
Q&K International Group, operator of China-based long-term apartment rentals platform Qingke, posted a marginal gain on its US trading debut after raising $45.9 million in an IPO priced at the bottom end of the indicative range.
Hillhouse, Crystal Stream invest African logistics start-up
Lori Systems, one of Africa’s largest logistics coordination platforms, has raised almost $30 million in a Series A round led by Hillhouse Capital and Crystal Stream Capital.