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News

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B Capital raises $2.1bn for latest global VC funds

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.

  • North America
  • 20 January 2023
india-rupee-note
India's 360 One buys Mumbai Angels, launches two funds

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.

  • South Asia
  • 19 January 2023
yiping-ng-yunqi
China’s Yunqi seeks $300m for fourth VC fund

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.

  • Greater China
  • 19 January 2023
buyout-guy-cash
Asia PE investment declines 40% in 2022

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.

  • Fundraising
  • 19 January 2023
ecommerce-conversions-clicks
Reefknot leads Series A for Singapore logistics player Locad

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.

  • Southeast Asia
  • 19 January 2023
computer-data-analysis-s
Avatar Growth leads Series C for India's Mad Street Den

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.

  • South Asia
  • 19 January 2023
evisu-store
TR exits last China asset acquired through Cassia restructuring

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.

  • Greater China
  • 19 January 2023
lamy-sebastien-bain
Bain & Co appoints new Asia PE practice co-head

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.

  • North Asia
  • 19 January 2023
india-flag-face
India's Lighthouse seeks $425m for Fund IV, gets NIIF commitment

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.

  • Fundraising
  • 18 January 2023
dollars-perspective
Singapore's Lighthouse Canton hits first close on venture debt fund

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.

  • Southeast Asia
  • 18 January 2023
healthcare-stethoscope-s
ADB backs Quadria's third health fund

Asian Development Bank (ADB) has committed USD 25m to the third fund from Singapore-based Quadria Capital, a healthcare-focused private equity firm.

  • Southeast Asia
  • 18 January 2023
hkvca-asia-2023-buyout
Asia GPs see reversion to norm on deal flow, valuations

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.

  • Buyouts
  • 18 January 2023
asia-globe-map-region
CVC hits USD 3.5bn first close on sixth Asia fund

CVC Capital Partners achieved a first close of USD 3.5bn on its sixth pan-Asian fund at the end of last year.

  • Fundraising
  • 17 January 2023
satellite
China satellite developer Minospace raises $60m

Beijing-based satellite developer Minospace has raised nearly CNY400m (USD 59.6m) across a Series B round and a Series B extension.

  • Greater China
  • 17 January 2023
exit-sign-sky
Southeast Asia, China GPs bullish on exits in 2023

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.

  • Greater China
  • 17 January 2023
zero-interstellar-rocket
Japan rocket start-up Interstellar gets $29m Series D

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.

  • North Asia
  • 17 January 2023
sael
Norwegian climate fund backs India waste-to-energy player

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.

  • South Asia
  • 17 January 2023
dollar-bill-money-2
TR hits $350m first close on fifth Asia secondaries fund - update

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.

  • Fundraising
  • 16 January 2023
mattress-bed-sleep-family
Investcorp leads $39m Series D for India's Wakefit

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.

  • South Asia
  • 16 January 2023
img-5339
LPs want more transparency in Asia GP relationships

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.

  • Greater China
  • 16 January 2023
union-combination-merger-partnership
India's IIFL Asset Management merges with Truscale

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.

  • South Asia
  • 16 January 2023
copin-webtoon
GIC, PIF invest $924m in Korea's Kakao Entertainment

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.

  • North Asia
  • 13 January 2023
ecoceres
Bain backs Asia biorefinery platform

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.

  • Greater China
  • 13 January 2023
weijian-shan-pag-aff
PAG's Shan emphasizes diversity, control in Asia private equity

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...

  • Greater China
  • 13 January 2023
2 3 4

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