News
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).
Baidu, Singapore's AMI launch $200m auto tech fund
Chinese internet giant Baidu has launched a $200 million fund with Singapore technology conglomerate Asia Mobility Industries (AMI) that will focus on autonomous driving and intelligent transportation.
Warburg Pincus, Genesis invest $120m in China's Zhangmen
Warburg Pincus and Genesis Capital have committed $120 million in Series D funding to Chinese online tutoring platform Zhangmen.
Australia's Canva raises $40m, achieves $1b valuation
Australian graphic design platform provider Canva has raised a $40 million funding round led by Sequoia China. The investment values the company at $1 billion.
China's Hony Capital to set up mutual fund unit
Hony Capital is poised to become the latest Chinese private equity firm to enter the mutual fund business.
GGV, Joy Capital lead $50m round for China's 91Xinshang
GGV Capital and Joy Capital have jointly led a $50 million Series C round of funding for 91Xinshang, a secondhand luxury goods trading platform in China.
Tencent, Orchid Asia back China music learning platform
VIP Peilian, a Chinese online music tutoring platform, has completed a Series B round of funding led by Tencent Holdings and Orchid Asia.
China's BaishanCloud gets $50m Series C
BaishanCloud, a Chinese data services company with a presence in the US, has closed a $50 million Series C funding round led by Alpha Capital and Chunjia Capital.
IFC-backed Bandhan files for India IPO
Bandhan Bank, the commercial banking subsidiary of India’s Bandhan Financial Services (BFSL), has filed for an IPO that will provide a partial exit for the International Finance Corporation (IFC).
Chinese insurers barred from using PE to spur government borrowing
Chinese insurers have been banned from using their private equity units to lend capital to projects backed by local governments for fear that this will inflate already sizeable debt burdens and raise financing costs in the real economy.
Global Brain backs $13m round for Japan's Base
Japanese venture capital firm Global Brain has led a JPY1.5 billion funding round for domestic online shopping start-up Base.
Google backs Chinese mobile game streaming platform
Google has participated in a Series D round of funding for Chushou, a Chinese mobile game live streaming platform. The investment takes the company’s total funding to more than $120 million.
Advantech, SDIC lead $76m round for China biotech player
Advantech Capital and SDIC Fund Management have led a $76 million Series A round for Chinese biotechnology company KBP Biosciences.
Brookfield to buy Westinghouse from Toshiba
Brookfield Asset Management has agreed to buy the Westinghouse nuclear power unit from Japan’s Toshiba Corporation in a deal worth approximately $4.6 billion.
Oaktree-backed Australian surf brands to merge
Australian surfwear brand Billabong International has agreed to an acquisition by industry peer Boardriders, which owns the Quiksilver brand. Both companies are backed by Oaktree Capital Management.
VCs invest $32m in China's HaploX Biotechnology
A group of investors including SBCVC and Kexin Capital have backed a $32 million funding round for China’s HaploX Biotechnology.
VIG buys Korean sports shoe materials supplier
VIG Partners has acquired Youyoung, a Korea-based supplier of materials used in running shoes, for an enterprise valuation of KRW220 billion ($207 million).
Apax backs Chinese cosmetic surgery marketplace
A technology-focused fund managed by Apax Partners has led a $60 million Series D round of funding for SoYoung, a Chinese online marketplace specializing in cosmetic surgery.
IFC invests $40m in Indonesian SME ecosystem
The International Finance Corporation (IFC) has invested $40 million in Indonesian lender Radana Bhaskara Finance as part of a support program for local small and medium-sized enterprises (SMEs).
China semiconductor fund agrees to invest $400m in local chip maker
State-backed private equity investor China Integrated Circuit Industry Investment Fund (IC Fund) has agreed to buy an approximately 19% stake in domestic computer chip maker Hua Hong Semiconductor for $400 million.
UK-based GP acquires Australia solar project
UK private equity investor Foresight Solar Fund (FSF) has taken a 100% interest in an Australian solar farm and a 49% interest in each of two related projects. It coincides with a A$55 million ($43 million) investment from Australia’s Clean Energy Finance...
Battery Ventures backs Australia SaaS player PageUp
US-based private equity firm Battery Ventures has invested in PageUp, an Australian developer of cloud-based enterprise talent management software.
China's Ant Financial abandons MoneyGram acquisition
Alibaba Group’s Ant Financial has abandoned its $1.2 billion acquisition of private equity-backed MoneyGram after failing to receive clearance from the Committee on Foreign Investment in the US (CFIUS).
INCJ joins $33m Series C for Japan's Megakaryon
Innovation Network Corporation of Japan (INCJ) has joined a JPY3.7 billion ($33 million) Series C funding round for Megakaryon, a domestic medical research company.