Toshiba Corporation has confirmed it received a buyout offer from CVC Capital Partners. Based on a reported valuation of $20 billion, it would be the largest acquisition by a private equity firm in Asia.
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
Japan’s YJ Capital, recently rebranded as Z Venture Capital (ZVC), has launched a JPY30 billion ($274 million) following a merger with Line Ventures.
L Catterton has invested JPY20 billion ($182 million) in PHC Holdings Corporation, a Japanese healthcare business – formerly known as Panasonic Healthcare – backed by KKR.
KKR has closed its fourth pan-Asian fund at $15 billion – the largest US dollar-denominated private equity vehicle ever raised for the region and the largest raised by KKR globally by number of LPs.
Qiming Venture Partners has led a $30 million Series B round for China-based imToken, which claims to be Asia’s largest crypto wallet.
Source Code Capital has confirmed a final close of $1 billion on its latest set of US dollar-denominated funds, which takes the Chinese venture capital firm’s total assets under management to $2.5 billion.
Japanese payments start-up Paidy has raised $120 million in Series D funding from JS Capital Management, Soros Capital Management, Tybourne Capital Management, and Wellington Management.
FountainVest Partners and ClearVue Partners have led a $220 million funding round for Plus, a China-based autonomous driving technology developer that specializes in trucks.
US and Singapore-headquartered VC investor B Capital Group has established a China presence and closed a late-stage follow-on fund of $415 million for existing portfolio companies.
Partners Group and Canada Pension Plain Investment Board (CPPIB) are exiting a combined 90% stake in US-headquartered GlobalLogic to Japan’s Hitachi at an equity valuation of $8.5 billion.
Trustar Capital, a Chinese middle-market private equity firm until recently known as CITIC Capital, is complementing its flagship buyout strategy with a growth capital-oriented fund.
Qingsong Fund, a Chinese venture capital firm formed by Xiaosong Liu, an angel investor and co-founder of Tencent Holdings, has closed its fourth renminbi-denominated fund with RMB1 billion ($153 million).
Alibaba Group and DST Global have led a $750 million Series D round for Shihuituan, a China-based community group buying platform also known as Nice Tuan.
Two emerging Chinese beverage brands - Genki Forest and Tasogare, which focus on sparkling water and coffee, respectively - have completed new funding rounds.
AVCJ's daily bulletin is taking a short break for the Easter holiday. Publication will resume on April 7.
Japan’s Unison Capital has confirmed two local healthcare deals in the space of a week with pharmacy chain Reliance and outpatient nursing provider N Field.
KKR’s $3.5 billion sale of Japanese semiconductor industry supplier Kokusai Electric to US-listed Applied Materials has fallen through due to regulatory approval issues in China.
Morgan Stanley Private Equity Asia (MSPEA) and Sihuan Pharmaceuticals have agreed to sell their 80% stake in China’s Huaiyin Hospital for RMB882.8 million ($134.3 million).
Biren Technology, a Chinese chip design company, has raised a RMB2.7 billion ($410 million) Series B round led by Ping An Insurance, New World Development, and Country Garden Venture Capital.
IMM Private Equity has agreed to sell its 40% stake in Taihan Electric Wire, a Korea-based manufacturer of high-voltage cables to Hoban Construction for KRW251.8 billion ($222 million).
Matrix Partners China has led a second tranche of Series E funding - worth $90 million - for Yunxuetang, a Chinese online corporate training services provider.
Redpoint China Ventures has promoted Kyle Liu, who focuses on early-stage enterprise services and cutting-edge technology investments, to partner level.
VMS Group, a Hong Kong-based asset manager, has led a $190 million extended Series A round of funding for Chime Biologics, a Chinese contract development and manufacturing organization (CDMO).