News
Japan’s TEPCO backs $100m Southeast Asia cleantech fund
Tokyo Electric Power (TEPCO), Singapore’s WEnergy Global, and ICMG Partners, a start-up accelerator with bases across Asia and the US, have launched a $100 million fund focused on clean energy innovation in Southeast Asia.
PE-backed Manpower unit files for Hong Kong IPO
Manpowergroup Greater China, the China branch of American staffing giant Manpower Group, has filed for a listing on the Hong Kong Stock Exchange.
China's Gobi makes its first two Philippines investments
China’s Gobi Partners has made its first investments in the Philippines with early-stage commitments of undisclosed size for online healthcare services provider Maria Health and student portal operator Edukasyon.
Immunochina secures $20.5m Series C round
Beijing-based Immunochina Pharmaceuticals has closed a RMB140 million ($20.5 million) Series C round with support from a group of investors including PayPal co-founder Peter Thiel.
Redpoint China raises $400m across two new funds
Redpoint China Ventures has closed a $300 million fund focusing on early-stage investments and a $100 million opportunity fund looking to invest in growth-stage companies.
India's Truebil raises $14m in equity and debt
Indian used car trading platform Truebil has raised INR1 billion ($14 million) in equity and debt from investors including Shunwei Capital, Kalaari Capital, and Inventus Capital.
SoftBank invests $150m in India's FirstCry
SoftBank Vision Fund has committed $150 million to Indian online baby and child-focused retailer FirstCry as the first tranche in a planned $400 million Series E round.
Japan's SBI invests $15m in Swiss blockchain player
SBI Crypto Investment, a unit of Japan’s SBI Holdings formed to back digital asset-focused start-ups, has invested $15 million in Tangem, a Switzerland-based producer of blockchain smart card wallets.
Shanghai launches $7.35b biotech fund
The Shanghai government has launched a biotech sector-focused fund targeting a hard cap of RMB50 billion ($7.35 billion) in partnership with Guotai Junan Securities, China Pacific Insurance and Shanghai Zhangjiang Group.
Indonesia's Warung Pintar gets $27.5m Series B
Warung Pintar, an Indonesia-based smart kiosk start-up, has raised IDR390 billion ($27.5 million) in Series B funding from a group of investors including East Ventures.
GPs commit $15m Series B to China's Ekuaibao
Ekuaibao, a Chinese corporate cost management software-as-a-service (SaaS) provider has raised $15 million in a Series B round of funding led by Mandra Capital, with participation from existing investors DCM Ventures and Future Capital.
China’s MabPlex raises $59m Series A
Shandong province-based biologics and biopharmaceutical contract development and manufacturing organization (CDMO) MabPlex has raised RMB400 million ($59 million) in Series A funding led by SDIC Venture Capital and Shenzhen Capital Group.
China VC firm Qiming announces promotions
China’s Qiming Venture Partners has announced the promotion of several staff members, including Stella Zhou (pictured), who is the first person to be elevated from associate to partner within the firm.
Eight Roads invests $31m in Indian pharma player
Eight Roads Ventures, the proprietary investment arm of Fidelity International, has invested INR2.18 billion ($30.6 million) in Indian pharmaceutical manufacturer Caplin Point. Sister fund F-Prime Capital Ventures also participated.
HighLight reaches first close on third renminbi vehicle
Chinese healthcare-focused GP HighLight Capital, which was set up by Steven Wang, formerly of CDH Investments, has reached the first close for its third renminbi vehicle at around 70% of the hard cap.
Bain makes tender offer for Japan's Kosaido
Bain Capital Private Equity has launched a tender offer for Japan-listed printing and IT solutions provider Kosaido that values the target company at approximately JPY15.2 billion ($139 million).
Australia's Funds SA hires Cameron Sinclair from Future Fund
Funds SA, which is responsible for investing on behalf of South Australia’s public-sector superannuation funds, has recruited Cameron Sinclair (pictured) from Future Fund to lead private equity and infrastructure activity.
PE industry cautiously optimistic on Hong Kong tax reforms
Industry participants have praised steps taken by the Hong Kong government to make it easier for private equity firms to operate locally, while cautioning that challenges remain regarding the regulation of managers in the territory.
Ascent Capital launches Myanmar PE fund
Ascent Capital, a Singapore-based private equity firm set up last year with a focus on Myanmar, has formally launched its debut fund with about $50 million in confirmed commitments.
Suning invests in Yunfeng co-invest vehicle for iKang take-private
Chinese consumer electronics retailer Suning has committed $50 million to a US dollar-denominated co-investment vehicle managed by Yunfeng Capital that will support the $1.4 billion privatization of iKang Healthcare Group.
Edelweiss closes India stressed asset fund at $1.3b
Edelweiss Alternative Asset Advisors, the alternative investment arm of India’s Edelweiss Group, has raised INR92 billion ($1.3 billion) for its second fund focused on investments in Indian stressed assets.
Adrian Kerley leaves Australia's CSC for IFM
Adrian Kerley (pictured), the investment manager responsible for private markets at Australia’s Commonwealth Superannuation Corporation (CSC) will join the private equity team at IFM Investors in February.
Domestic, international themes drive India opportunities
Companies that cater to international customers currently offer the most compelling PE investment opportunities in India, but GPs are increasingly excited about the rise of new segments in the domestic market.
PE-backed Shenzhen Scholar files for Hong Kong IPO
Shenzhen Scholar Education, a Chinese after-school tutoring business backed by CRE Alliance, has filed for an IPO in Hong Kong.