News
Chinese AR start-up raises $17m Series B
Hiscene, a China-based manufacturer of augmented reality (AR) glasses and communication systems that also goes by the name Liangfengtai, has raised RMB120 million ($17 million) in an extended Series B round of funding.
Asia fintech player GoBear raises $80m
GoBear, an online financial products marketplace focused on young Asian consumers, has raised $80 million from its Netherlands-based sponsors Walvis Participaties and Aegon.
Singapore’s GIC gets $33b from MAS for long-term investment
The Monetary Authority of Singapore (MAS) plans to transfer S$45 billion ($33 billion) of the country’s foreign exchange reserves to GIC Private for deployment in longer-term investments.
China AI player Megvii raises $750m Series D
Chinese artificial intelligence (AI) developer Megvii Technology has raised $750 million in Series D funding led by Bank of China Group Investment. It brings the company’s valuation to around $4 billion.
Qiming re-ups in Chinese car rental platform Zuzuche
China-based third-party car rental platform Zuzuche has received Series C funding from Qiming Venture Partners.
Accel, Kalaari, Chiratae invest in India's CureFit
Indian health and fitness start-up CureFit has raised $75 million from a group of investors including Accel Partners, Kalaari Capital, and Chiratae Ventures.
Orchid, TPG-backed Duiba trades flat on Hong Kong debut
Duiba, operator of a China-based interactive advertising platform and software-as-a-service (SaaS) management system for online businesses, traded flat on its Hong Kong debut, following an IPO of HK$766.2 million($97.6 million).
Allianz, GLP to invest $600m in Asia logistics
German financial services giant Allianz has committed $600 million to funds managed by GLP, a PE-owned warehouse operator based in Singapore, with a view to investing in logistics in China and Japan.
Lighthouse closes third India fund at $230m
Lighthouse Funds has closed its third India-focused middle-market growth capital vehicle at $230 million.
TA closes global growth fund at $8.5b hard cap
Global growth equity investor TA Associates has reached a first and final close on its latest fund – TA XIII – at the hard cap of $8.5 billion.
BlueChilli launches health-tech accelerator in Singapore
Australia’s BlueChilli has launched a health-tech accelerator in Singapore in cooperation with the local government as part of a broader pivot toward the region.
India NBFC raises $14m Series E round
Dvara KGFS, a non-banking finance company (NBFC) backed by Indian financial inclusion investor Dvara Trust, has raised INR970 million ($14 million) in Series E funding led by Stakeboat Capital.
CDIB Capital appoints Asia healthcare head
CDIB Capital has named Robert Liu as a managing director and co-head of its regional healthcare practice group in Shanghai.
Proventeus targets $150m for Southeast Asia fund
Proventeus Capital, a private equity firm established by a team that spun out from the Malaysia branch of Kuwait Finance House, is looking to raise $150 million for a Southeast Asia mid-market buyout fund.
GSR, BAI lead round for Chinese industrial SaaS provider
GSR Ventures and Bertelsmann Asia Investments (BAI) have led an RMB150 million ($22 million) Series B round for Black Lake Technology, a China-based supplier of data collection, visualization and analysis to factories.
LPs ramp up emerging markets due diligence efforts - survey
Private equity investors in emerging markets are expanding the scope of their manager due diligence, driven by the weaknesses exposed in the demise of Abraaj Group as well as by increasing emphasis on environment, social, and governance (ESG) protocols.
KKR supports privatization of Singapore-listed 800 Super
KKR is supporting a management-led delisting of 800 Super that values the Singaporean waste management services company at S$161 million ($118 million).
Pakistan ride hailing and courier app secures Series A
Bykea, a Pakistan-based online platform for on-demand transport and logistics, has raised a $5.7 million Series A round led by Sarmayacar, a European venture capital investor focused exclusively on Pakistan.
China's Yunji completes $121m US IPO, gains 29% on debut
Yunji, a Chinese membership-based e-commerce platform, gained 29% on its NASDAQ trading debut following a $121 million IPO that was largely covered by two of its private equity investors.
China’s Green Harbor acquires fashion label Jason Wu
China-based private equity firm Green Harbor Investment has acquired a controlling stake in American women’s wear brand Jason Wu for an undisclosed sum.
Eight Roads appoints Southeast Asia head
Eight Roads Ventures, the proprietary investment arm of Fidelity International, has named Dave Ng as its head of Southeast Asia based in Singapore.
Tikehau Capital opens Tokyo office
Tikehau Capital, a France-based asset manager with EUR2.8 billion ($3.1 billion) in private equity assets under management, is expanding its Asia footprint with an office in Tokyo.
Goldman, Accel lead Series D for India’s BlackBuck
Indian online long-distance trucking marketplace BlackBuck has raised a $150 million Series D round led by Goldman Sachs and existing investor Accel Partners.
C-Bridge closes third healthcare fund at $850m
C-Bridge Capital has closed its third healthcare fund - which covers Asia but is most active in China - at $850 million, after increasing the hard cap. It is the largest dedicated healthcare vehicle raised for deployment in Asia by an independent private...