News
Centurium closes China fund at $2b
Centurium Capital, a private equity firm established by ex-Warburg Pincus China head David Li (pictured), has closed its debut US dollar-denominated fund at just over $2 billion after about 15 months in the market.
Golden Equator to launch $200m SE Asia mezz fund
Singapore’s Golden Equator has punctuated a spate of fundraising activity with confirmation it will launch a $200 million mezzanine and private debt fund for growth-stage companies in Southeast Asia.
Japan's JBIC backs $788m Russian chemicals project
The Japan Bank for International Cooperation (JBIC) has teamed up with the Russian Direct Investment Fund (RDIF), a sovereign wealth fund, to invest at least RUB50 billion ($788 million) in a chemical complex in western Russia.
Genesis nets $850m for second China tech growth fund
Genesis Capital, a Chinese GP established by Richard Peng, who previously led investments for Tencent Holdings, has closed its second US dollar-denominated fund at the hard cap of $850 million.
Japan's TDK sets up VC arm, $50m fund
Japanese electronics giant TDK Corporation has established a venture capital unit with the launch of a $50 million fund that will focus on early-stage start-ups.
SoftBank invests $250m in India's Ola Electric
SoftBank has invested $250 million in Ola Electric, an electric vehicle (EV) company that spun out from Indian ride-hailing platform Ola earlier this year. The new investment reportedly brings Ola Electric’s valuation to over $1 billion.
Sequoia launches India seed fund
Sequoia Capital is deepening its focus on early-stage start-ups in India with a new seed fund that will invest separately from its existing vehicles.
Oman's Jabreen Capital buys stake in EastBridge
Oman-based private equity firm Jabreen Capital is expanding into Southeast Asia with the acquisition of a stake of undisclosed size in the Singapore division of Korean counterpart EastBridge Partners.
IFC, Corisol lead $70m Series D for India's 1mg
The International Finance Corporation (IFC) and Switzerland-based family office Corisol Holdings have led a $70 million Series D round for Indian online healthcare services platform operator 1mg Technologies.
KKR agrees $2.2b sale of Japan's Kokusai Electric
KKR will sell Kokusai Electric – a semiconductor-focused thin film manufacturing business acquired from Hitachi approximately 18 months ago – to US-listed Applied Materials for $2.2 billion in cash.
Cathay Innovation leads $35m round for China AI player Laiye
Cathay Innovation, the venture affiliate of Cathay Capital Private Equity, has led a $35 million extended Series B round of funding for Laiye Technology, a Chinese artificial technology (AI) start-up. Existing investors Lightspeed China and Wu Capital...
Chinese state-owned steel trading platform raises $291m
Ouyeel, which claims to be China’s largest online-to-offline (O2O) trading platform for the steel industry, has raised RMB2 billion ($291 million) in Series B funding at a post-deal valuation of RMB10 billion.
Temasek invests $300m in Li & Fung's logistics unit
Temasek Holdings has invested $300 million in Li & Fung’s logistics operation after the Hong Kong-based multinational abandoned plans to spin-out the asset through an IPO.
China GPs back US health-tech player in $22m Asia push
China’s 6 Dimensions Capital and Yonghua Capital have joined a $22 million Series C round for US-based Ultivue that will help the medical technology developer expand into Asia.
Invesco commits $300m to Southeast Asia's Grab
Southeast Asian ride hailing and online-to-offline (O2O) services platform Grab has received a $300 million commitment from global investment manager Invesco as part of its ongoing $6.5 billion Series H round.
Tiger leads $30m Series B for India fintech start-up
Open Financial Technologies, an India-based online financial services start-up aimed at small businesses, has raised a $30 million Series B round led by Tiger Global Management.
AVCJ daily bulletin returns July 2
AVCJ’s daily bulletin will not be published on Monday, July 1 due to a public holiday marking the establishment of Hong Kong Special Administrative Region.
Australia's CEFC to invest $70m in clean energy fund
Clean Energy Finance Corporation (CEFC), a renewables-focused investor backed by the Australian government, has agreed to commit up to A$100 million ($70 million) to a new fund.
HSBC closes $250m global PE fund
HSBC has closed a $250 million private equity fund that will make primary, secondary and direct co-investments across multiple geographies, sectors and strategies.
Paytm founder backs $29m debut fund from India's Roots
Vijay Shekhar Sharma, the founder of Indian online payments platform Paytm, has joined the INR2 billion ($29 million) debut fund of Indian venture capital firm Roots Ventures as an anchor investor.
Indonesia's KoinWorks raises $12m Series B
Indonesian P2P lending platform KoinWorks has raised S$16.5 million ($12 million) in Series B funding led by EV Growth and Quona Capital.
GPs anticipate rich flow of Japanese divestments - AVCJ Forum
The corporate carve-out opportunity in Japan is sizeable and sustainable, despite relatively lackluster large-cap deal flow in 2018, industry participants told the AVCJ Japan Forum.
India's Unacademy secures $50m Series D
Indian education platform operator Unacademy has closed a $50 million Series D round from a group of investors including Sequoia Capital India.
VIG to make full exit from Korea's Samyang Optics
VIG has agreed to make a full exit from Korean camera lens manufacturer Samyang Optics – having taken the business public in 2017 – and will realize a 3.5x gross return on its investment.