News
Ex-HarbourVest Asia head nominated for US navy secretary
President Donald Trump has announced that Philip Bilden, who previously led the Asia operation of HarbourVest Partners, will be his nominee for US navy secretary.
IFC proposes $150m investment in Thai bank
The International Finance Corporation (IFC), the private investment arm of the World Bank, plans to invest up to $150 million in Thai lender TMB Bank.
China Everbright reaches second close on global fund
China Everbright has reached a second close of $294 million on its cross-border investment fund.
Horizons invests $23m in US auto group's China push
Horizons Ventures - an investment firm controlled by Hong Kong billionaire Li Ka-shing - has led a $23 million round for a Chinese business development effort by US-based automotive technology company Divergent 3D.
India's Endiya closes debut fund at $26m
Indian early-stage VC firm Endiya has reached a final close of INR1.75 billion ($25.7 million) on its debut fund.
European investors commit $25m to Indian VC Aavishkaar
India-based impact investment firm Aavishkaar-Intellecap Group has raised $25 million from Triodos Investment Management and the Shell Foundation.
Abraaj acquires Pakistan wind power company
The Abraaj Group has agreed to buy a majority stake in Pakistani wind farm operator Jhimpir Power from energy sector investor Burj Capital.
Fidelity marks down India's Flipkart
A mutual fund managed by Fidelity has cut the valuation of its shares in India e-commerce giant Flipkart – which faces a concerted challenge from Amazon – by 36.1%, falling in line with a Morgan Stanley valuation issued last December.
Baird Capital appoints Asia partner
Baird Capital, the direct private investment arm of Robert W. Baird & Co, has recruited Andy Tse, formerly managing director of AIF Capital, as a partner.
Alibaba's local services platform Koubei completes $1.1b round
Koubei, a China online-to-offline (O2O) local services platform backed by Alibaba Group, has completed a $1.1 billion funding round led by Silver Lake, CDH Investments, Yunfeng Capital and Primavera Capital.
Qiming leads $20m Series A for China biopharma developer
Qiming Venture Partners has led a $20 million Series A round of funding for Chinese drug developer Connect Biopharmaceuticals.
IIFL, Iron Pillar back India's NowFloats
Indian enterprise web solutions provider NowFloats has raised $10 million in Series B funding from a group of investors including IIFL and Iron Pillar.
India's Muthoot Microfin raises $19m from US-based GP
US private equity firm Creation Investments has committed about INR1.3 billion ($19 million) for an 11% stake in Indian microfinance services provider Muthoot Microfin.
NYSTRS commits $100m to MBK's fourth North Asia fund
New York State Teachers’ Retirement System (NYSTRS) has disclosed a commitment of $100 million to MBK Partners’ fourth North Asia buyout fund, which closed at $4.1 billion in December 2016.
Bridgepoint agrees sale of Nordic Cinema to Chinese strategic
AMC Entertainment, the US theatre chain controlled by China’s Dalian Wanda Group, will acquire Stockholm-based Nordic Cinema Group from PE firm Bridgepoint and Swedish media group Bonnier Holding for SEK8.25 billion ($929 million).
Australia's CEFC, Southern Cross Venture back GreenSync
GreenSync, an Australian company that has developed smart software for use in electricity grids, has raised A$11.5 million ($8.7 million) in Series B funding from Clean Energy Finance Corporation (CEFC) and Southern Cross Venture Partners.
CapitalG leads $15m round for India's Cuemath
CapitalG, the investment arm of Google parent company Alphabet, formerly known as Google Capital, has led a $15 million Series B round for Indian math learning start-up Cuemath.
Australian analytics start-up Local Measure raises $3.4m
Local Measure, an Australian analytics technology provider servicing the tourism industry, has raised $3.4 million for an expansion effort that will include opening new offices in Los Angeles and Dubai.
Taiwan's Foxconn invests in PE-backed Mobike
Taiwan-based Foxconn Technology Group has made a strategic investment in Mobike, a Chinese bike rental service start-up backed by several PE investors including Warburg Pincus.
IMJ, Opt invest $4.4m in Japan's Enechange
Enechange, which manages an energy price comparison site aimed at Japanese customers, has raised JPY500 million ($4.4 million) from Opt Ventures and IMJ Investment Partners.
China launches $15b internet investment fund
China’s Ministry of Finance and the Cyberspace Administration of China (CAC) - the country's internet oversight agency - have launched an internet-related investment fund with a target of RMB100 billion ($15 billion).
IFC proposes $10m investment in India's Zinka Logistics
The International Finance Corporation (IFC), the investment arm of the World Bank, is considering a $10 million investment in Indian logistics company Zinka Logistics Solutions.
Pencarrow sells NZ beverage company to Dutch trade buyer
New Zealand’s Pencarrow Private Equity has sold 100% of domestic tea and coffee company BrewGroup to Jacobs Douwe Egberts (JDE), a Netherlands-based beverages group active in more than 100 countries.
China VCs lead $100m round for local education app Xueba
China Merchants Capital and Grand Fight Investment have co-led a $100 million Series C round of funding for Xueba, a Chinese education app that helps students understand homework exercises.