News
New Zealand's Fonterra exits pharma business to CVC
New Zealand dairy group Fonterra has agreed to sell its stake in DFE Pharma, a 50-50 joint venture with Royal FrieslandCampina of the Netherlands, to CVC Capital Partners for NZ$633 million ($398 million).
Singapore's Mooncake Capital launches $100m crypto VC fund
Mooncake Capital, a Singapore-based venture capital firm focused on crypto technologies has launched an Asia-focused fund targeting $100 million.
Chinese enterprise software provider gets $35m Series A
Deepexi, a Chinese digital enterprise services provider, has raised $35 million in a Series A round led by Morningside Venture Capital, Hillhouse Capital and IDG Capital.
China's CIC prioritizes direct investment, bilateral funds
China Investment Corporation (CIC) is stepping up its private equity co-investment and direct investment activity – including through the establishment of bilateral cross-border funds – as it seeks to boost returns in increasingly unstable global markets....
Capricorn Capital acquires Hong Kong accounting firm A-Pass
Capricorn Capital, a UK-based family office, has paid an undisclosed sum for a 67% stake in Hong Kong accounting and corporate services firm A-Pass.
Skybound Capital acquires Australia's Fair Go Finance
Hong Kong-based private equity investor Skybound Capital has acquired a 60% stake in Australian online loans provider Fair Go Finance for A$20 million ($13.6 million).
China autonomous driving start-up receives $50m pre-A
DeepRoute, a Shenzhen-based autonomous driving solutions provider, has received $50 million in a pre-A funding round led by Fosun RZ Capital.
VC-backed Japanese e-commerce player files for IPO
Base, a Japanese e-commerce services platform that helps small-scale vendors establish online shops, has filed for an IPO in Tokyo. It will facilitate partial exits for multiple venture capital investors.
Green Pine raises $140m for RMB tech fund
Shenzhen Green Pine Capital Partners (GPCP) has raised RMB1 billion ($140 million) for a fund that will target artificial intelligence (AI), robotics and internet of things (IoT) investments in China.
Navis acquires Thailand's Srithai Food Group
Navis Capital Partners has paid an undisclosed sum for a controlling stake in Srithai Food Group, a Thailand-based restaurant supplier focused on the seasoning and condiments segment.
Hony invests $42m in Xinhua News Agency's mobile platform
Hony Capital has agreed to pay RMB300 million ($42 million) for a 20% stake in Xinhua Xuanmen, a mobile platform launched by China's state-owned Xinhua News Agency.
Japan carve-out opportunity moves beyond conglomerates
Japan’s corporate carve-out opportunity set is expanding as smaller firms begin to follow the example of conglomerates, according to domestic mid-market GP Integral Corporation.
Chinese auto parts supplier raises $28m in Series A extension
Mancando, an automotive parts supplier based in Guangdong province, has raised RMB200 million ($28 million) in an extended Series A round led by Legend Capital, with participation from Eastern Bell Venture Capital, Galaxy Capital, and Oriza FoF.
Singapore's Advance.AI gets $80m Series C
Advance.AI, a Singapore-based start-up focused on financial technology applications of big data, has raised an $80 million Series C round led by Gaorong Capital and Pavilion Capital.
Japan's Tokio Marine Capital spins out from parent
Japanese mid-market buyout firm Tokio Marine Capital is spinning out from its corporate parent to form an independent investment manager known as T Capital Partners.
PE consortium makes $4.6b take-private bid for China Biologic
Centurium Capital, CITIC Capital and Hillhouse Capital are part of an investor group targeting a $4.6 billion take-private of China Biologic – just over a year after committing new equity to the US-listed company to protect it from other would-be acquirers....
Indian fintech player Groww raises $21m
Groww, an Indian financial technology provider focused on mutual fund investment services, has raised a $21.4 million Series B round led by US-based Ribbit Capital.
Korea fintech player Tera Funding gets $18m
Korean financial technology provider Tera Funding has secured an $18 million Series B round from a group including SBI Investment Korea and KB Investment.
Vertex closes Southeast Asia, India fund at $305m
Vertex Ventures, a VC arm of Singapore’s Temasek Holdings, has closed its fourth Southeast Asia and India fund at $305 million, beating an initial target of $230 million.
India's Lightbox closes third VC fund at $209m
Lightbox Ventures has raised $209.3 million for its third India-focused fund, exceeding an initial target of $200 million.
VCs invest $11m in Singapore talent agency
Gushcloud International, a digital talent agency based in Singapore, has received $11 million from a group of regional VCs and US hip-hop mogul Russel Simmons (pictured).
Lightspeed, Tiger lead $67m Series B for India's OkCredit
Lightspeed Venture Partners and Tiger Global Management have led a $67 million Series B round for Indian financial technology player OkCredit.
Khazanah sells Malaysian hospital for $244m
Malaysian sovereign wealth fund Khazanah Nasional has agreed to sell the Prince Court Medical Centre in Kuala Lumpur to local operator IHH Healthcare for about MYR1 billion ($244 million).
CDH joins Series D for Chinese AI truck player
CDH Investments has participated in the $120 million second tranche of a Series D round for TuSimple, a China and US-based developer of autonomous driving technology for trucks.