News
Ryan Shelswell to replace Chris Heine as ICG's Asia head
Ryan Shelswell has been named head of Asia Pacific at Intermediate Capital Group (ICG), succeeding Chris Heine, who will retire from the company.
CHAMP sells Australia's Accolade Wines to Carlyle
CHAMP Private Equity has agreed to sell Accolade Wines, which over the course of seven years it has turned into Australia’s largest wine producer, to The Carlyle Group for A$1 billion ($770 million).
CICC commits $286m to China's Concord Medical
CICC Capital, the private equity arm of China International Capital Corp, has agreed to invest up to RMB1.8 billion ($286 million) in an onshore subsidiary of Concord Medical, a US-listed healthcare business that abandoned a management-led privatization...
Riverside secures exits in New Zealand, Australia
The Riverside Company has sold New Zealand-based animal health devices manufacturer Simcro, along with Work Health Group, an occupational rehabilitation services provider in Australia.
PE-owned Qualitas Medical targets Singapore IPO
Southern Capital Group is making another attempt to list Qualitas Medical, its Malaysia-based healthcare services provider, on the Singapore Stock Exchange. Partners Group is also an investor in the business.
China's Meituan-Dianping acquires PE-backed Mobike
Meituan-Dianping, China’s largest online-to-offline (O2O) local services platform, has agreed to buy full control of bike-sharing company Mobike. Both companies are backed by Tencent Holdings and have received substantial private equity funding.
China's CMAB Biopharma gets $34m Series B
CD Capital, a Chinese healthcare-focused VC also known as CDBI Partners, has led a $34 million Series B round for CMAB Biopharma, a manufacturing services provider for biologic product developers.
China's Source Code hires former Commonfund Asia head
Jireh Li, formerly chief representative for Asia at US-based fund-of-funds Commonfund Capital, has joined Chinese venture capital firm Source Code Capital as an executive director.
Qiming appoints Steven Hu as partner
Qiming Venture Partners has rehired a former partner, Steven Hu (pictured), as a partner focused on investment in the internet and consumer sectors.
SoftBank, Alibaba invest $445m in India's Paytm
SoftBank Group and Alibaba Group have invested $445 million in Paytm Mall, the e-commerce arm of Indian online payments platform Paytm.
Temasek, Sailing lead $114m round for Impossible Foods
Singapore’s Temasek Holdings and China’s Sailing Capital have led a $114 million round for Impossible Foods, a US-based vegetarian food technology company currently expanding into Asia.
ChrysCapital leads $55m round for Indian education NBFC
ChrysCapital has led a INR3.5 billion ($55 million) Series C round for Varthana, an education-focused non-banking finance company (NBFC) based in India.
Bain Capital to merge US-based WWP with Chinese player
Bain Capital Private Equity has acquired US-based World Wide Packaging (WWP), a provider of cosmetic packaging components and plastic tubes, and plans to merge it with a Chinese cosmetics packaging manufacturer – another acquisition the GP is currently...
Macquarie closes Asia infra fund at $3.3b
Australia’s Macquarie Infrastructure and Real Assets (MIRA) has achieved a final close for its second Asia-focused infrastructure fund at the hard cap of $3.3 billion.
AVCJ daily bulletin returns April 6
AVCJ's daily bulletin will not be published on April 5 due to a public holiday in Hong Kong for the Ching Ming Festival.
Tencent leads $80m round for China's Miaoshou Doctor
Tencent Holdings has led a RMB500 million ($80 million) Series C round for Miaoshou Doctor, a China-based healthcare services provider.
Tata-backed Varroc files for India IPO
Varroc Engineering, an Indian auto component manufacturer owned by the Varroc Group, has filed for an IPO that will see its private equity backer Tata Capital exit the bulk of its holding.
CDPQ to invest in India's Fundamentum
Caisse de dépôt et placement du Québec (CDPQ) will commit $20 million in a fund managed by India-focused VC firm The Fundamentum Partnership.
Tokio Marine sells Japanese food wholesaler to iSigma
Tokio Marine Capital has sold Japanese food wholesale distribution business Shokukai to iSigma, a buyout firm controlled by trading and investment conglomerate Marubeni.
Alibaba to acquire China's Ele.me at $9.5b valuation
Alibaba Group has agreed to acquire all the remaining shares of Ele.me, a Chinese food delivery platform backed by several private equity investors, in a transaction that values the company at $9.5 billion.
India's ReNew acquires Actis-backed Ostro
Indian renewable energy producer ReNew Power Ventures has acquired renewable energy platform Ostro Energy, providing an exit for its PE backer Actis Capital.
Unison buys Japanese restaurant chain
Unison Capital has acquired Sukesan, a Japanese udon noodle restaurant operator, for an undisclosed sum.
Unitas exits Chinese noodle shop chain
Unitas Capital has sold Gourmet Noodle House – a Chinese casual dining chain that operates under the Jiayo brand – to GreenTree Inns Hotel Management.
Japan Industrial Partners set for $1.4b fundraise
Corporate carve-out specialist Japan Industrial Partners (JIP) has closed the offshore portion of its latest fund and is poised to raise JPY102.3 billion ($996 million) in total once commitments from onshore investors are finalized. There will also be...