News
Indian Angel Network closes VC fund at $53m
Indian Angel Network (IAN) has closed its first venture capital fund with INR3.7 billion ($53 million) in commitments. The target was INR3.5 billion.
Singapore’s Tembusu seeks $287m for China liquor fund
Singapore private equity firm Tembusu Partners has received a strategic commitment of up to RMB670 million ($96 million) for a RMB2 billion fund targeting the liquor industry in China’s Guizhou province.
CICC, AstraZeneca launch $1b China healthcare fund
China International Capital Corporation (CICC) and global pharmaceutical giant AstraZeneca are looking to raise $1 billion for a fund that will back Chinese healthcare companies as well as international players looking to enter the country.
Vietnam media platform Pops gets $30m
Korean investors Mirae Asset Capital, EastBridge Partners, and Naver have provided $30 million in growth capital to Vietnamese online entertainment broadcaster Pops.
Philippines-based Xurpas acquires Wavemaker Partners
Philippines consumer technology developer Xurpas has agreed to acquire the US operations of venture capital firm Wavemaker Partners.
SoftBank founder admits to lapses on WeWork
SoftBank founder Masayoshi Son admitted to a lapse in judgment on WeWork while disclosing that SoftBank Vision Fund and SoftBank Group have written down their positions in the beleaguered co-working space provider by a combined $7.7 billion.
Eastern Bell closes first US dollar fund at $365m
China’s Eastern Bell Capital has closed its first US dollar-denominated fund at $365 million, exceeding the target of $350 million.
Investcorp backs $500m Asia food fund
Investcorp has teamed up with China Resources and Fung Investments, the private investment arm of the founding family of Hong Kong consumer goods and supply chain conglomerate Fung Group, to raise a $500 million Asia food fund.
Everstone seeks listing for Burger King India
Everstone Capital, which set up the Indian franchise of US fast food giant Burger King in 2013, has filed to list the company on the domestic markets.
Pakistan’s Airlift raises $12m Series A
Pakistan’s Airlift, a bus-hailing app, has raised a $12 million Series A round led by US-based First Round Capital. It is being called the largest ever Series A in Pakistan.
China Everbright, Investcorp deepen China tech partnership
China Everbright and Investcorp have agreed to combine their respective China technology-focused investment teams and co-manage a recently launched fund targeting the sector.
VCs set for exit as Alibaba buys IDsManager
Alibaba Cloud, the cloud computing unit of Alibaba Group, has agreed to acquire IDsManager, a Chinese cloud-based ID management platform backed by Qiming Venture Partners and Fortune Capital.
Chinese antibody drug developer raises $150m
Akeso Biopharma, a Chinese biotech company specializing in antibody drugs, has raised a $150 million Series D round led by Loyal Valley Capital and Sino Biopharm.
Chinese drone maker EHang targets US listing
Chinese drone manufacturer EHang has filed for a US IPO, potentially delivering a liquidity event for investors including GGV Capital and ZhenFund.
Chinese fresh produce retailer raises $14m
Maison Capital has invested RMB100 million ($14 million) in Sungiven Foods, a Chinese fresh produce retailer looking to replicate the model of US-based Trader Joe's.
German VC firm DTCP opens Korea office
DTCP, a Germany-based VC firm controlled by Deutsche Telekom and Korea’s SK Telecom, has opened its first Asian office in Seoul.
HQ hires AB Value's Kitamura for Japan coverage
Motoya Kitamura, previously managing partner of Japanese secondaries investor AB Value Capital Partners, has joined HQ Capital as a managing director.
ESR raises $1.6b in up-sized HK IPO, gains on debut
Pan-Asian logistics and fund management platform ESR gained 5.4% on its first day of trading in Hong Kong after completing Asia's second-largest IPO of the year.
China property marketplace trades flat after $78m IPO
Chinese online real estate marketplace Fangdd Network raised $78 million in its US IPO, having reduced the size of the offering, and traded flat on its first day on NASDAQ.
India's ShopClues to merge with Singapore-based Qoo10
Indian e-commerce company ShopClues has agreed a merger with Singaporean counterpart Qoo10 at a valuation reportedly 99% lower than its peak level of $1.1 billion.
CPE adds to Australian defense, aerospace assets
CPE Capital – formerly known as CHAMP Private Equity – has secured its second Australian defense sector deal in eight months with an agreement to buy Levett Engineering.
Japan's Paidy secures $143m in funding
Paidy, one of Japan’s largest financial technology start-ups, has confirmed $143 million in new funding, comprising an extended Series C round and debt financing.
China car finance player targets US IPO
Meili Auto, a Chinese car financing platform, has filed for US IPO. Its backers include Gaorong Capital, China International Capital Corporation (CICC), and Lingfeng Capital.
Aspirant scales up for third Japan buyout fund
Aspirant Group, a Japanese middle-market buyout firm, has closed its third fund at the hard cap of JPY50 billion ($463 million). It is nearly twice the size of the GP’s previous vehicle.