News
Tencent, Sequoia lead $100m Series C for China’s Smart Fabric
Smart Fabric, a start-up that seeks to digitize China’s textile industry, has received a $100 million Series C round jointly led by Tencent Holdings and Sequoia Capital China.
Hong Kong unrest hampers sale of PE-owned work space provider
The private equity owners of The Executive Centre (TEC), an office provider that relies on Hong Kong for 30% of its EBITDA, have suspended a sale process in response to ongoing protests in the territory.
Future Fund stresses risk-reward balance in private market strategies
Institutional investors “should be thoughtful about balancing risk and reward” as they deploy more capital into private markets that present liquidity and valuation challenges, according to the deputy CIO of Australia’s Future Fund.
Tencent joins $300 million round for second-hand trading platform
Tencent Holdings has joined a $300 million Series B round for Zhuanzhuan, a Chinese second-hand goods trading platform controlled by US-listed online classifieds marketplace 58.com.
Hong Kong's WHub launches crowdfunding platform
WHub, a Hong Kong-based start-up services provider and accelerator, has launched the territory’s first licensed equity crowdfunding platform for technology entrepreneurs.
PAG commits $300m to China's LexinFintech
PAG has agreed to invest $300 million in LexinFintech, a US-listed financial technology platform provider based in China.
China PE compensation premium is shrinking - survey
The premium traditionally paid for deal-making talent in China over other Asian jurisdictions is narrowing and in some cases has turned into a deficit – in what might be seen as evidence of GPs looking to strengthen their coverage beyond the region’s...
China ends quotas on QFII, RQFII inbound investment schemes
China’s regulator announced it would abolish its QFII and RQFII investment quotas, giving global investors unrestrained access to the country’s capital markets.
Mithril Capital invests $45m in India's Glance
Mithril Capital, a US-based VC firm launched by PayPal co-founder Peter Thiel, has invested $45 million in Glance, an Indian smart phone media service provider.
GIC leads $500m investment in Vietnam's VCM Services
A consortium led by Singapore’s GIC Private has agreed to invest $500 million in VCM Services, a consumer retail division of Vingroup, Vietnam’s largest conglomerate.
CDC appoints direct equity managing director
CDC Group has named Tony Morgan (pictured), formerly a managing director at Canada Pension Plan Investment Board (CPPIB) as a managing director responsible for direct equity.
China’s Sky9 raises $440m for early-stage, growth funds
Sky9 Capital, a VC firm established by former Lightspeed China executive Ron Cao, has closed its second venture fund at $321 million and also raised $119 million for a growth vehicle.
Advent to buy control of Indian snacks producer DFM
Advent International has agreed to acquire a 67.9% stake in Indian snacks manufacturer DFM Foods from investors including WestBridge Capital for INR8.52 billion ($118.7 million). It has made an open offer to buy a further 26% of the company for INR3.26...
CPPIB confirms $115m investment in India's Delhivery
Canada Pension Plan Investment Board (CPPIB) has confirmed it has invested $115 million in Indian e-commerce logistics services provider Delhivery.
Partners Group finds proxy for China sports boom
From Adidas to Li Ning, sportswear brands are expanding aggressively in China. Recent Partners Group acquisition BCR Group is among the leaders in a $2 billion industry that furnishes new stores
Temasek, Kuehne + Nagel launch early-stage logistics fund
Singapore’s Temasek Holdings has launched a $50 million fund focused on early-stage logistics technology start-ups alongside Switzerland supply chain industry giant Kuehne + Nagel.
Boyu leads $300m round for Chinese apartment rental player
Boyu Capital has led a $300 million Series A round of funding in Cjia.com, a serviced apartment brand created by Huazhu Hotels Group and IDG Capital.
Legend leads round for Chinese community group buying business
Legend Capital has led a $100 million investment in Tongcheng Life, a social e-commerce business incubated by Hong Kong-listed online travel agency Tongcheng-Elong.
Mandarin reaches first close on third China-Europe fund
China-Europe cross-border private equity firm Mandarin Capital Partners has reached a first close of EUR148 million ($163 million) on its third fund. The overall target is EUR250 million.
Alibaba, Yunfeng invest $700m in NetEase Cloud Music
NetEase Cloud Music, one of China's largest music streaming platforms, has secured a $700 million investment from Alibaba Group and Yunfeng Capital, a private equity firm established by Alibaba founder Jack Ma.
LPs warn of co-investment risks - AVCJ Forum
The boom in LP appetite for co-investment has made it harder to secure access to deals and created adverse selection risk as private equity firms push beyond their comfort zone, investors told the AVCJ Korea Forum.
Quadrant to acquire Australia's Love To Dream
Australia’s Quadrant Private Equity has agreed to acquire a majority interest Love To Dream, a domestic baby care brand focused on swaddles and sleepwear.
GIC-backed Metro Pacific Hospital files for Philippines IPO
Metro Pacific Hospitals Holdings (MPHH), a unit of Philippines-based conglomerate Metro Pacific Investments Corp. (MPIC), has filed for a domestic IPO. GIC is a minority shareholder in the business.
Tencent invests $120m in Chinese CRM provider
Tencent Holdings has committed $120m in Series E funding to Xiaoshouyi, a Chinese customer relationship management (CRM) software provider that has several VC backers.
