News
YBF Ventures, Honeywell launch real estate tech accelerator
Australia’s YBF Ventures and US conglomerate Honeywell have teamed up to launch a Sydney-based technology start-up accelerator for the real estate sector.
KKR names Hirano, Shastry as co-heads of Asia PE
Hiro Hirano and Ashish Shastry, who lead KKR’s operations in Japan and Southeast Asia, respectively, have been appointed co-heads of private equity across the region.
Affinity sells frequent flier stake back to Virgin Australia
Affinity Equity Partners has more than doubled its money on Virgin Australia’s frequent flyer business, having agreed to sell back a 35% stake to the parent company for A$700 million ($480 million).
Australia's Quadrant buys control of online beauty retailer
Quadrant Private Equity has completed the fourth investment in six months from its newly established growth fund, with the purchase of a majority interest in Australian online beauty retailer Adore Beauty.
Australian superfund consolidation to alter private markets strategies
Australia’s pension market is ripe for consolidation, which will see the emergence of a handful of mega superannuation funds that leverage their scale to bring more investment activity in-house, according to leading industry participants.
Baidu Ventures joins Series B for China retail AI player
Baidu Ventures has joined a Series B round of undisclosed size for SandStar, a Chinese artificial intelligence (AI) developer focused on the retail sector. It brings total investment to date to $25 million.
Vertex raises $275m for China venture fund
Vertex China, a venture capital firm affiliated to Temasek Holdings-owned Vertex Holdings, has closed its fourth fund on target at $275 million.
TPG teams up with Malaysian strategic for SE Asia hospital buyout
TPG Capital and Malaysian conglomerate Hong Leong Group have agreed to buy Columbia Pacific Management’s Southeast Asia hospital business for approximately $1.2 billion.
OPIC commits $185m to India SME sector
The Overseas Private Investment Corporation (OPIC), a development finance arm of the US government, will invest $185 million in India’s small to medium-sized enterprise (SME) sector.
500 Startups, UN launch Indonesia accelerator
500 Startups has teamed up with a unit of the United Nations to launch an impact-focused start-up accelerator in Indonesia.
Qiming leads $37m round for Hong Kong biotech player
Qiming Venture Partners has led a $37 million Series B round for Insilico Medicine, a Hong Kong-based drug development company that uses artificial intelligence (AI).
TCDRS backs Baring's latest Asia fund
Texas County & District Retirement System (TCDRS) has committed up to $100 million to Baring Private Equity Asia’s seventh pan-regional fund.
Thailand's Pomelo gets $52m Series C
Thailand-based fashion retailer Pomelo has raised a $52 million Series C round from a group including Hong Kong’s Provident Growth. It is being called the first-ever Series C for a Thai start-up.
Singapore's Vertex closes debut growth fund at $290m
Vertex Venture Holdings, the VC arm of Singapore’s Temasek Holdings, has reached a final close on its first growth-stage fund with $290 million in commitments. The initial target was $250 million.
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.