US and Singapore-headquartered VC firm B Capital has closed its third series of funds with USD 2.1bn in commitments. The mandate is global with a strong emphasis on Asia.
Bain Capital-backed 360 One, which rebranded from IIFL Wealth & Asset Management last November, has acquired a 91% stake in Mumbai Angels as the seed investor launches two new funds.
Yunqi Partners, which makes early-stage investments in China’s enterprise software and services space, is targeting USD 300m for its fourth US dollar-denominated fund.
Asia private equity investment reached USD 223.9bn in 2023, a sharp decline from the USD 376.4bn recorded a year earlier, but still the second-largest annual total on record, according to provisional data from AVCJ Research.
Singapore-based logistics service provider Locad has raised USD 11m in Series A funding led by Reefknot Investments, which is supported by Temasek Holdings and supply chain giant Kuehne + Nagel.
Avatar Growth Capital, a private equity firm specialising in bringing Indian tech to global markets, has led a USD 30m Series C round for US and India-based retail services player Mad Street Den.
TR Capital has sold China-focused luxury streetwear brand Evisu United – one of two assets it acquired through fund restructuring for Cassia Investments – through a sale to an unnamed financial sponsor. The size of the deal was not disclosed.
Bain & Company has named Sebastien Lamy, who has been with the firm for over 20 years and most recently focused on Asia infrastructure investment, as co-head of its regional private equity practice.
Lighthouse Funds is targeting INR 35bn (USD 425m) for its fourth India fund and has signed up the country’s National Investment & Infrastructure Fund (NIIF) as an anchor LP.
Singapore Lighthouse Canton has reached a first close of USD 20m on its first venture debt fund, which will target Southeast Asia and India. The target is USD 100m.
Asian Development Bank (ADB) has committed USD 25m to the third fund from Singapore-based Quadria Capital, a healthcare-focused private equity firm.
Asia-focused buyout managers pointed to a return to a version of normality – with an anticipated upturn in investment and exits – in 2023 at the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia forum.
CVC Capital Partners achieved a first close of USD 3.5bn on its sixth pan-Asian fund at the end of last year.
Beijing-based satellite developer Minospace has raised nearly CNY400m (USD 59.6m) across a Series B round and a Series B extension.
Investors targeting Southeast Asia and China told the Hong Kong Venture Capital & Privat Equity Association's (HKVCA) Asia forum that they were encouraged by liquidity events in 2022 and expect to see more exit opportunities this year.
Interstellar Technologies, which in 2017 became the first Japanese company to launch a privately developed space rocket and is currently working on solutions for sending small satellites into orbit, has raised JPY 3.8bn (USD 29.6m) in Series D funding.
A climate fund set up by Norwegian development finance institution Norfund has invested NOK 600m (USD 60.5m) in Indian solar and waste-to-energy company SEAL.
TR Capital, an Asia-focused private equity secondaries investor, has reached a first close of USD 350m on its fifth fund, which has an overall target of USD 600m.
Investcorp has led a INR 3.2bn (USD 39.4m) Series D round for India’s Wakefit, which claims to be the largest D2C retailer of mattresses and bedding accessories.
LPs are willing to back first-time managers and reengage with China, but they want to see more from GPs in return for taking these risks, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
India-based alternative investment manager IIFL Asset Management (IIFL AM) has agreed to take ownership of TrueScale Capital, a venture growth firm established by Sameer Nath, formerly of Iron Pillar.
Singapore’s GIC and Saudi Arabia’s Public Investment Fund (PIF) have agreed to invest a combined KRW 1.15trn (USD 924m) in Korean internet giant Kakao’s entertainment division.
Bain Capital Private Equity has confirmed a significant equity commitment to EcoCeres, a Hong Kong-based biorefinery. The size of the investment was not disclosed.
Momentum has shifted towards geographically diversified pan-regional investors, control deals, and private markets following a decade dominated by China-centric funds, growth-stage technology plays, and public equities, Weijian Shan, chairman and CEO...