News
Everstone acquires IDFC-backed India hospital chain
India’s Everstone Group has agreed to acquire a controlling stake in Sahyadri Hospitals, a portfolio company of IDFC Alternatives that operates eight hospitals in Maharashtra, for an undisclosed amount.
Ekuinas exits Malaysia healthcare businesses
Malaysian government-backed private equity firm Ekuinas has exited its entire majority holdings in local healthcare players MediExpress and PMCare to Japan’s Sumitomo Corporation.
Tencent backs China e-commerce service provider
Tencent Holdings has led a HK$911 million ($116 million) investment in Hong Kong-listed e-commerce service provider China Youzan, with participation by Gaocheng Capital and Greater Bay Area Homeland Investments, operator of the Greater Bay Area Homeland...
Korean online grocery player secures $88m Series D
Market Kurly, a four-year-old Korean start-up that provides online grocery delivery services, has raised KRW100 billion ($88 million) in Series D funding.
Japan's Chikyoren awards overseas PE mandate
Japan’s Pension Fund Association for Local Government Officials (Chikyoren) has awarded an overseas private equity mandate to Sumitomo Mitsui Asset Management.
Chinese tea shop operator raises $29m
Lelecha, which operates around 35 milk tea stores across China, has raised RMB200 million ($29 million) in a Pre-Series A round of funding led by Vertex Ventures China.
Singapore crypto platform hits $1b valuation with Series C
Liquid.com, a Singapore-based cryptocurrency trading platform, has passed the $1 billion valuation mark with the first close of a Series C round led by IDG Capital.
Capital Today leads round for Chinese convenience store chain
China-based convenience store chain operator Linji has raised $30 million in Series B funding led by Capital Today China Group, with participation from existing investor Source Code Capital.
Advantage to exit Japanese outdoor sports equipment retailer
Advantage Partners has agreed to sell Ishii Sports, a Tokyo-based outdoor sports equipment retailer it acquired three years ago, to local consumer electronics store operator Yodobashi Holdings.
NIIF, PSP form $2b India toll road investment platform
The Indian government-backed National Investment & Infrastructure Fund (NIIF) has teamed up with Canada's Public Sector Pension Investment Board (PSP Investments) to launch a platform that will invest up to $2 billion in local toll road projects.
AVCJ daily bulletin returns April 8
AVCJ's daily bulletin will not be published on April 5 due to a public holiday in Hong Kong for the Ching Ming Festival.
Chinese healthcare data management platform raises $74m
Miaojiankang, a China-based company that provides health data tracking, management, and analysis services through an online platform, has raised RMB500 million ($74 million) in a Series C round from China Pacific Insurance and Xiran Capital.
China-Belarus fund backs Series C for chatbot specialist
The China-Belarus Industrial Investment Fund, an investment vehicle under China Merchants Group, has led a $41 million Series C round of funding for Shenzhen-based Zhuiyi Technology, an artificial intelligence start-up specializing in chatbots.
DSG hits $30m first close on third consumer fund
DSG Partners Asia, which targets early-stage consumer opportunities in India and Southeast Asia, has reached a first close of $30 million on its third fund.
Samara invests in Indian personal care space
Samara Capital has purchased a 50% stake in Indian cosmetics maker Blue Heaven Cosmetics for an undisclosed amount, its second investment in the personal care segment in as many weeks.
China success requires trusted partners – Lip-Bu Tan
Lip-Bu Tan, founder of Walden International, advised delegates at Intel Capital’s global summit to prioritize trust in local partners when considering investments in China.
Actis-backed Sprng acquires India solar portfolio
Sprng Energy, an Indian renewable energy platform backed by Actis Capital, has acquired a 194 megawatt portfolio of operating solar power assets from SP Infra, the infrastructure investment arm of Shapoorji Pallonji Group.
Longreach agrees Hong Kong medical devices buyout
The Longreach Group has announced the third investment from its recently closed third mid-market buyout fund, with an agreement to acquire contract development and manufacturing organization (CDMO) Quasar Engineering.
Source Code leads round for China machinery rental business
China-based Zhongneng United, which rents out aerial work platforms that provide temporary access to inaccessible areas, has raised $50 million in Series B funding led by Source Code Capital.
Chinese industrial robotics player Emergen raises $30m
Qiming Venture Partners has led a RMB200 million ($30 million) Series B round for Emergen, a Chinese company that designs intelligent operating systems for factories and produces industrial robots.
Everstone exits India's Rubicon to General Atlantic
General Atlantic has acquired Indian pharmaceutical developer Rubicon Research. Everstone Group, the company's controlling shareholder, will realize a 4.5x return on the deal.
PAG appoints KKR dealmaker as India PE head
PAG has hired Nikhil Srivastava from KKR to lead its India private equity operations as the firm looks to expand its coverage of the country.
Intel Capital backs two Chinese AI companies
Intel Capital has invested two Chinese start-ups as part of a $117 million commitment across 14 artificial intelligence (AI) companies globally.
EQT backs Southeast Asia healthcare benefits administrator
EQT has made an investment of undisclosed size in MHC Asia, a Southeast Asia-based healthcare benefits administrator that helps corporate clients customize health and wellness offerings.