News
CICC leads $96m round for Chinese sports site Hupu
Hupu Sports Media, a Chinese language sports information and e-commerce site, has raised a RMB618 million ($96 million) round led by a government-backed fund managed by China International Capital Corporation (CICC).
Singapore launches legal tech accelerator
Singapore’s Infocomm Media Development Authority (IMDA) is partnering with two state-sponsored academic institutions to launch a start-up accelerator focused on technology related to legal practices.
India's PE-backed Capital First to merge with IDFC Bank
Capital First, an India-listed non-banking financial company (NBFC) backed by Warburg Pincus and GIC Private, has agreed to merge with IDFC Bank.
CITIC Capital takes majority control of Harbin Pharmaceutical
CITIC Capital has increased its stake in Harbin Pharmaceutical Group to 60.86%, becoming the controlling shareholder of the Chinese state-backed business in which it has been an investor since 2005.
Carlyle promotes Australia buyout head to partner
The Carlyle Group has promoted David Bluff, head of its buyout team in Australia and New Zealand, to partner. He was previously a managing director with the firm.
Chinese fruit store chain raises $230m Series B
Pagoda, a Chinese fruit store chain operator, has completed a RMB1.5 billion ($230 million) Series B round of funding.
India removes limits on foreign investment in retail
India has broadened its regulations on foreign direct investment (FDI), permitting unconditional 100% FDI in sectors including single-brand retail trading (SBRT).
MSPEA backs Indian medical devices, health foods businesses
Morgan Stanley Private Equity Asia (MSPEA) has completed two investments in India, committing INR1.6 billion ($25.1 million) to medical devices business Sahajanand Medical Technologies (SMT) and INR1.52 billion to health foods producer Southern Health...
VCs invest $13m in Indian payroll services player
Niyo Solutions, an Indian financial technology company specialized in payroll services, has raised a $13.2 million Series A round from a group of VC firms, including Hong Kong’s Horizons Ventures.
CITIC Capital completes Axilone acquisition
CITIC Capital has completed the acquisition of Axilone, a Europe-headquartered packaging supplier to the cosmetics industry. The deal facilitates an exit for Oaktree Capital Management.
KKR media platform buys India cartoon studio
Emerald Media, a pan-Asian media and entertainment platform backed by KKR, has acquired a majority stake in Cosmos-Maya, an animation studio based in Singapore and India.
China co-working space start-up gets $92m
Kr Space, a China-based co-working space operator, has received RMB600 million ($92 million) in a pre-Series B round of funding from its existing investors.
CDC completes exit from India’s Ujjivan
UK-based development finance institution CDC Group has fully exited Ujjivan Financial Services, the listed holding company for Ujjivan Small Finance Bank, realizing more than INR4 billion ($63.4 million) since it began trimming its stake last year.
Hyundai joins round for Southeast Asia's Grab
South Korean automaker Hyundai has joined the latest funding round for Southeast Asia-based ride-hailing platform Grab. The move comes five months after Toyota also backed the company.
Accel, Elevar in $24m round for Indian NBFC
Indian non-banking financial services company (NBFC) Samunnati has raised an INR1.5 billion ($23.5 million) funding round from investors including Accel Partners and Elevar Equity.
Nissan, Mitsubishi, Renault set up $1b auto VC fund
Automotive giants Renault, Nissan Motor and Mitsubishi Motors have launched a venture capital fund that will invest $1 billion in advanced car technologies with a strong presence in Asia.
VCs in $146m Series A round for China’s Black Fish
Black Fish, a Chinese online consumer finance platform, has raised a RMB950 million ($146 million) Series A round from Lightspeed China Partners, Morningside Venture Capital, Jafco Asia, and Gobi Partners.
Tiger Global, TAL invest $100m in China’s Dada ABC
Tiger Global Management and TAL Education have invested $100 million in a Series C round of funding for Dada ABC, an online K-12 English education platform based in China.
Pantheon promotes Alex Wilmerding to partner
Pantheon has promoted Alex Wilmerding, who is responsible for client relationships across Asia Pacific and also sits on the regional investment team, to partner.
Grey Mountain buys pallet business from Australia's Brambles
Australian container supplier Brambles has agreed to sell its North American recycled pallet business to Grey Mountain Partners, a US-based mid-market GP, for an enterprise value of $115 million.
CDH backs Chinese healthcare AI business
CDH Investments has invested in Huiyi Huiying (HY), a Beijing-based start-up that offers artificial intelligence-based (AI) medical imaging diagnosis. Financial terms were not disclosed.
Japan's J-Star invests in restaurant, auto businesses
J-Star has acquired a majority stake in Japanese restaurant operator Section Eight and invested in new and pre-owned car dealer Sanwa Service.
Hony launches $300m Belt and Road fund, invests in Kazakhstan
Hony Capital has partnered with its portfolio company China Glass Holdings (CGH) to launch a $300 million fund that will invest in glass production projects in countries covered by the One Belt One Road (OBOR) initiative.
KV Asia backs MBO of Malaysian education group
KV Asia Capital has supported a management buyout of APIIT Education Group, the holding company for several primary, secondary and tertiary education assets in Malaysia, from Ekuinas for an enterprise valuation of MYR725 million ($180 million).