News
GGV raises $1.9b to back China, US start-ups
GGV Capital has closed its latest fund – primarily for deployment in China and the US – with $1.88 billion in commitments. The venture capital firm raised $1.2 billion for its previous vehicle in 2016.
Source Code re-ups in Chinese computer rental start-up
Edianzu, a Chinese start-up that rents out computers and other office equipment to corporate customers, has raised $60 million in Series D funding led by existing investor Source Code Capital.
Bain seeks $3.5b for fourth Asia fund
Bain Capital Private Equity has set a target of $3.5 billion for its fourth Asia fund and is expected to complete a first and final close in December.
Australia's Quintet invests in local recruitment business
Quintet Partners, an Australian investment firm established by a former Citigroup banker, has acquired a significant stake in Talent, a locally based staffing and recruiting company focused on the IT sector.
GIC leads $220m Series C for China supply chain finance player
Chinese supply chain finance provider Linklogis has raised $220 million in a Series C round of funding led by GIC Private.
Gobi launches $10m Indonesia early-stage fund
China and Southeast Asia-focused VC firm Gobi Partners has launched a $10 million fund aimed at early stage investments in Indonesia.
CLSA makes Japan staffing bolt-ons
Outsourcing Investments (OSI), a Japanese business process outsourcing (BPO) firm owned by CLSA Capital Partners (CLSA CP), has acquired two domestic staffing service providers through bolt-on transactions.
Indonesia's Kejora targets $100m for growth fund
Indonesian venture capital firm Kejora Ventures is seeking $100 million for a growth fund that will participate in Series B and C rounds for local start-ups. Initial commitments have come from several Korean investors, reflecting the country’s strong...
UK-based Social Finance to raise $2b for India impact investing
Social Finance, a globally focused impact investor based in the UK, plans to raise $2 billion for investments in India across two vehicles focused on education and local micro, small and medium-sized enterprises (MSMEs).
Asia PE salaries rise as war for talent intensifies - survey
Private equity compensation rose across the board in Asia Pacific last year – a trend that is seen to reflect rising competition for talent as the number of firms and volume of capital in the region continues to grow.
Ant Financial re-ups in India's Zomato
Indian restaurant discovery and food delivery platform Zomato has raised $210 million from existing investor Ant Financial, the financial services affiliate of China’s Alibaba Group.
Carlyle, Chinese strategic buy stake in clinical labs player Adicon
The Carlyle Group and Chinese healthcare services provider Meinian Onehealth have together invested in Adicon Holding, a local independent clinical laboratory (ICL) provider. Carlyle is now the company's single largest shareholder.
IDG Ventures India rebrands as Chiratae Ventures
IDG Ventures India has changed its name to Chiratae Ventures to emphasize the firm’s identity as a backer of high-growth Indian start-ups with potential for global expansion.
L Catterton makes partial exit from China mall operator Sasseur
L Catterton Asia has made a partial exit from Chinese mall operator Sasseur citing ongoing efforts to optimize its portfolio.
Chinese probe uncovers irregularities in one-third of local GPs
Nearly one-third of domestic private equity firms inspected by China’s securities watchdog in the first half of this year were found to have irregularities, prompting the regulator to reaffirm its intent to further step up scrutiny of the industry.
Morningside secures $1b for China venture fund
Morningside Venture Capital, a China-focused early-stage VC firm, has raised approximately $1 billion for its latest US dollar-denominated fund. It represents a considerable step up in size from the GP’s previous vehicle, which closed at $660 million...
Shunwei backs Chinese quick-service hair salon operator
Xingkeduo, a Chinese hair salon operator that specializes in fast-turnaround services, has raised RMB100 million ($14.5 million) in a Series B round of funding led by Shunwei Capital, China International Capital Corp, Hongdao Capital and Future Capital.
Advent invests in India's Manjushree Technopack, Kedaara exits
Advent International has made an investment of undisclosed size in Indian packaging industry supplier Manjushree Technopack. It facilitates an exit for Kedaara Capital.
AVCJ Awards 2018 - Voting has closed
Voting for the 2018 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks for your participation. The winners will be announced on November 12.
CLSA launches early-stage fintech unit
Hong Kong’s CLSA has launched an investment unit called AlphaLabs that will back early-stage financial technology companies in Asia.
Chinese autonomous driving player RoboSense raises $45m
RoboSense, a VC-backed company based in China that develops sensing technology for autonomous cars, has raised about $45 million from strategic investors including Alibaba Group and domestic carmaker SAIC Motor Group.
VC-backed Chinese scooter maker targets $104m in US IPO
Niu Technologies, China's largest producer of lithium-ion electric scooters, is targeting up to $104 million in its US IPO. VC backers include GGV Capital and Future Capital Discovery Fund.
Shaw Kwei closes fourth Asian fund at $812m
Shaw Kwei & Partners, a middle-market private equity firm that primarily focuses on the industrial, manufacturing and services sectors in Asia, has closed its fourth fund at $812 million.
Fresh China gets $43m Series B led by IDG
Fresh China, a domestic fresh food retailer also known as Shengxian Chuanqi, has raised RMB300 million ($43.3 million) in a Series B round led by IDG Capital with participation from Sequoia Capital and BA Capital.