News
Lightspeed leads $50m round for Singapore's YouTrip
Lightspeed Venture Partners has led a USD 50m Series B investment in Singapore-based travel wallet and currency exchange app YouTrip.
Saudi fund invests $100m in China's Pony.ai
Saudi Arabia’s Neom Investment Fund, a strategic venture vehicle for the planned smart city of Neom, has made a USD 100m commitment to Chinese autonomous driving player Pony.ai.
OrbiMed raises $4.3b for global, Asia funds
Healthcare investor OrbiMed has raised USD 4.3bn for its latest set of global funds, including its fifth Asia-focused vehicle.
Pantheon opens Singapore office
Pantheon has opened an office in Singapore, expanding an Asian footprint that already includes bases in Hong Kong, Seoul, and Tokyo.
Navegar leads Series C for Singapore's Inteluck
Philippines private equity firm Navegar has led a USD 34m Series C round for Singapore-based supply chain technology provider Inteluck with support from East Ventures.
Husk Power raises $43m for Asia, Africa mini-grid strategy
India, US, and Nigeria-based renewable energy developer Husk Power has raised USD 43m in Series D funding from global VC investors for a South Asia and sub-Saharan Africa mini-grid rollout.
Schroders, Thailand's KBank launch renminbi PE fund
Schroders Singapore and KBank Private Banking, a unit of Thailand’s Kasikornbank, have jointly launched a Thailand-based renminbi-denominated China private equity fund of undisclosed size.
Bain, DNE launch $250m China advanced manufacturing platform
Bain Capital and Chinese industrial infrastructure developer DNE Group have jointly launched a USD 250m advanced manufacturing investment platform.
General Atlantic backs India travel platform, Affirma exits
General Atlantic has acquired a minority stake in TBO.com, an India-based business-to-agent travel portal that serves a global customer base, for an undisclosed sum. The deal facilitates a partial exit for Affirma Capital.
CBC hits second close on China life science real assets fund
Specialist healthcare investor CBC Group has reached a second close on its China-focused life science real assets fund with USD 875m in commitments.
Indonesia sustainable construction start-up raises $10m
Stilt Studios, a sustainable construction start-up founded by the former co-CEO of Lazada Indonesia, has secured USD 10m in Series A funding – comprising debt and equity tranches – which will be used to support expansion into Australia, Europe, and...
Faering invests $30m in India's Vastu, Multiples exits
Faering Capital has invested USD 30m in India’s Vastu Housing Finance, facilitating an exit for Multiples Alternate Asset Management.
US Congressional committee targets Sequoia's China exposure
Sequoia Capital has been targeted by a US Congressional committee seeking more details on its investments in semiconductors, quantum computing, and artificial intelligence (AI) in China over the past 13 years.
AVCJ daily bulletin returns October 24
AVCJ’s daily bulletin will not be published on October 23 due to a public holiday in Hong Kong.
PayPal backs Quona, Sweef impact funds
PayPal has confirmed LP commitments of undisclosed size to funds managed by financial inclusion-focused Quona Capital and women-led businesses specialist Sweef Capital.
Australia's Employment Hero raises Series F at $1.3b valuation
Australian human resources start-up Employment Hero has achieved a valuation of approximately AUD 2bn (USD 1.3bn) on closing a AUD 263m Series F round led by US-based venture capital firm TCV.
East targets $30m for Indonesia healthcare VC fund
East Ventures has launched a dedicated Indonesia healthcare innovation fund with a target of USD 30m.
Blackbird, Airtree back $18m round for Australia's Darwinium
Blackbird Ventures and Airtree Ventures have participated in a USD 18m Series A round for Darwinium, an Australian digital security start-up that moved its headquarters to the US in April.
Quadria hits $500m first close on third healthcare fund
Singapore-based healthcare specialist Quadria Capital has reached a first close of USD 500m on its third flagship fund. The target is USD 800m.
PEP participates in $634m Australia land lease operator deal
Pacific Equity Partners (PEP) and property owner and manager Mirvac have agreed to acquire Serenitas, land lease operator Serenitas for an enterprise value of approximately AUD 1bn (USD 634m).
Anchorage targets Australia's Southern Cross Media
Anchorage Capital Partners has teamed up with ARN, which owns a range of broadcasting and outdoor advertising assets in Australia, to make a AUD 225.5m (USD 144m) bid for Southern Cross Media.
China's Baichuan AI raises $300m
China-based artificial intelligence (AI) start-up Baichuan AI has raised USD 300m in a first tranche of Series A funding from an investor group featuring Alibaba Group, Tencent Holdings, and Xiaomi.
Korea's STIC to exit biofuels player to PE-backed consortium
Korea’s STIC Investments has agreed to sell biofuels producer Daekyung Oil & Transportation to a consortium backed by SK Group, Korea Development Bank (KDB), and Eugene Private Equity.
Korea's VIG seeks $1.1b for Fund V
South Korean mid-market private equity firm VIG Partners has launched its fifth fund with a target of USD 1.1bn, seeking to replicate the even split between domestic and foreign capital achieved in the previous vintage.