News
Hillhouse, Tencent back Chinese low-cost retailer Miniso
Miniso, a fast-growing Chinese low-cost retailer, has received RMB1 billion ($145.5 million) in funding from Tencent Holdings and Hillhouse Capital. The proceeds will be used for international expansion and smart retail initiatives.
China Sports Capital leads $15m round for gaming network
Fighting Esports Group (FEG), a China-based online gaming network, has raised a RMB100 million ($14.5 million) Series A round led by China Sports Capital, a joint venture between Sequoia Capital China and CMC Capital Partners.
Mitsui leads $40m Series B for Singapore's Campana
Mitsui & Co has led a $40 million Series B round for Campana Group as the data network infrastructure company advances the installation of an undersea fiber cable system between Singapore and Myanmar.
Adams Street closes global early stage fund at $426m
Adams Street Partners has reached a final close of $426 million on Adams Street Venture Innovation Fund II, its global early-stage fund-of-funds.
Venturra leads $26m round for Philippines' First Circle
Venturra Capital has led a $26 million Series A round for First Circle, a Philippines-based lending platform operator focused on small to medium-sized enterprises (SME).
China credit services specialist WeShare gets $90m Series B
Shenzhen-based Chinese financial services provider WeShare has secured $90 million in Series B funding led by Huaxing Growth Capital, an investment arm of China Renaissance, as well as CITIC Capital and Loyal Valley Capital.
PEP sells New Zealand's Manuka Health
Pacific Equity Partners (PEP) has agreed to sell Manuka Health, a New-Zealand based producer of premium honey – used in dietary supplements, gourmet foods and personal care products – that it acquired three years ago.
PAG-backed Tencent Music files for US IPO
Tencent Music Entertainment Group (TME), one of the world’s largest music streaming services, has filed to list in the US. PAG Asia Capital is among the company’s minority backers.
India, US-based Netradyne gets $21m Series B round
Netradyne, a US and India-based developer of artificial intelligence (AI) technology focused on automotive applications, has raised $21 million in Series B funding from a group of VC and strategic investors.
Blockchain VCs invest $20m in Singapore's AI Grid
A group of VCs specializing in blockchain-related investments has backed a $20 million round for The AI Grid Foundation, a Singapore-based company that promotes decentralized renewable energy usage.
Direct Capital exits New Zealand's Cavalier Wool
New Zealand’s Direct Capital has exited its remaining 13.7% stake in domestic carpet manufacturing industry services provider Cavalier Wool Holdings (CWH) for an undisclosed sum.
Equis hires Macquarie's Secen as partner
Asia-focused infrastructure investor Equis Group has appointed Damian Secen, a former senior managing director at Macquarie Infrastructure and Real Assets (MIRA), as a partner in its Singapore office.
Caldera seeks $200m for Southeast Asia fund
Caldera Pacific, a Southeast Asia-focused private equity firm that has spent the past four years working on a deal-by-deal basis, is looking to raise $200 million for its debut fund.
China's Cootek struggles on trading debut, vows to push forward
CooTek – the VC-backed Chinese app developer behind the TouchPal smart phone keyboard – shrugged off a disappointing trading debut in New York and pledged to cultivate new products with a view to easing reliance on its flagship offering.
Australia's Blue Sky agrees $36m debt deal with Oaktree
Special situations investor Oaktree Capital has extended a loan package worth up to A$50 million ($36 million) to Australia-listed Blue Sky Alternative Investments following a string of regulatory breaches.
Blackbird joins $14m round for Australia space player
Australia’s Blackbird Ventures has joined a A$19 million ($13.7 million) Series B round for local rocket developer Gilmour Space Technologies.
True North acquires India hair care business
Indian private equity firm True North has acquired a controlling stake in Sesa Oil, a domestic producer of hair and beauty care products.
CalPERS names ex-SAFE executive as CIO
California Public Employees’ Retirement System (CalPERS) has appointed Yu Ben Meng, who has spent the last three years as deputy CIO of China’s State Administration of Foreign Exchange (SAFE) as its new CIO.
NewQuest, Committed Advisors back $175m restructuring
NewQuest Capital Partners and Committed Advisors have bankrolled the formation of a $175 million fund that will acquire the existing portfolio of Singapore-based Basil Partners and provide additional capital for follow-on investments.
Tiger Global leads $44m Series C for China's Udesk
China-based customer services outsourcing provider Udesk has raised RMB300 million ($43.6 million) in a Series C round of funding led by Tiger Global Management, with participation from existing investors Legend Capital and DCM.
PE consortium acquires Australia's Universal Store
Australian fashion retailer Universal Store has been acquired by venture capital firms BB Retail Capital, Catalyst Direct Capital Management, and Five V Capital.
China's Liulishuo posts modest gain following $72m US IPO
Liulishuo, a Chinese English language learning app that uses artificial intelligence (AI) to deliver customized teaching solutions for adults, ended its first day of trading on the New York Stock Exchange up 1.2%.
AVCJ daily bulletin returns October 2
AVCJ's daily bulletin will not be published on October 1 due to the public holiday in Hong Kong marking China's National Day.
PE-backed Chinese crypto player set for Hong Kong IPO
Bitmain, a five-year-old Chinese company that is the dominant global player in manufacturing chips for bitcoin mining, with revenues ballooning nearly tenfold to $2.5 billion last year, has filed for a Hong Kong IPO.