News
India's OIJIF reaches $220m first close on second fund
The Oman India Joint Investment Fund (OIJIF), an India-focused GP sponsored by the State General Reserve Fund of Oman (SGRF) and the State Bank of India (SBI), has reached a first close of $220 million on its latest fund.
Warburg Pincus expects to deploy $8b over next decade in India
Warburg Pincus believes it will invest at least $8 billion in India in the next decade as the country’s entrepreneurs continue to mature.
China AI start-up Moran Cognitive raises $10m from VCs
Moran Cognitive Technology, a China-based artificial intelligence (AI) start-up, has received $10 million in a funding round co-led by Matrix Partners China and Source Code Capital.
Nexus leads $5m Series A for India's Zolo
Nexus Venture Partners has led a $5 million Series A round of funding for Indian managed accommodation platform Zolo.
China Exim Bank fund buys Hungary's Invitel from Mid Europa
The China-CEE Fund, which is backed by China Exim Bank and invests in Central and Eastern Europe, has agreed to buy Hungarian fixed line telecom and broadband internet provider Invitel Group for an enterprise valuation of EUR202 million ($214 million)....
Ex-TPG Asia head Ben Gray targets $1.5b Australia fund
Ben Gray, the Australia-based former co-head of TPG Capital’s Asia operations, is looking to raise A$2 billion ($1.5 billion) for an Australia and New Zealand-focused fund.
China's CreditEase reaches $32m first close on Israel VC fund
Chinese asset manager CreditEase Wealth Management has reached a first close of $32.2 million on its second Israel-focused venture capital fund.
China used car trading platform Uxin raises $500m
Chinese used car trading platform Uxin has raised $500 million in a new round of funding led by TPG Growth, Jeneration Capital and China Vision Capital.
Japan's Polaris exits Clean Surface Technology
Japan-based Polaris Capital has sold its 100% stake in domestic electronics supplier Clean Surface Technology (CST) to coal mining company Mitsui Matsushima for JPY4 billion ($35 million).
KKR makes $1.3b tender offer for Japan's Hitachi Koki
KKR has launched its second tender offer in two months for a Japanese listed company, submitting a bid for Hitachi Koki that values the power tools manufacturer at JPY147.1 billion ($1.28 billion).
India's Unacademy raises $4.4m Series A round
Blume Ventures and Nexus Venture Partners have led a INR300 million ($4.4 million) Series A round of funding for Indian free-to-use learning platform operator Unacademy.
Tencent leads $40m round for China CRM platform Xiaoshouyi
Xiaoshouyi, a China VC-backed customer relationships management (CRM) platform, has raised a RMB280 million ($40 million) Series D round of funding led by Tencent Holdings.
Tembusu exits Singapore-based Ednovation to CDH
CDH Investments has acquired a 36% stake in Ednovation, a Singapore-based operator of pre-schools in Southeast Asia and China, from Tembusu Partners in a deal said to be worth more than S$50 million ($35 million).
Australia's AMP closes global infrastructure fund at $2.4b
Australia’s AMP Capital has reached a final close of $2.4 billion on its second global infrastructure fund, exceeding the target of $2 billion.
Carlyle promotes SE Asia buyout head Sunil Kaul to partner
The Carlyle Group has promoted Sunil Kaul (pictured), who leads buyout operations in Southeast Asia, from managing director to partner. His is one of 62 senior promotions announced by the firm, of which 15 are Asia-based professionals.
Capital Today leads $100m round for China Q&A platform Zhihu
Capital Today has led a $100 million Series D round of funding for Zhihu, a Chinese question-and-answer platform similar to US-based Quora.
TPG targets up to $4.5b for seventh Asia fund
TPG Capital is seeking between $4 billion and $4.5 billion for its seventh pan-Asian fund, having closed the previous vehicle at $3.3 billion in 2014 after a challenging two-year-plus process.
Apax sells 48% stake in GlobalLogic to CPPIB
Apax Partners has sold a 48% stake in GlobalLogic, an IT outsourcing company founded by several Indian entrepreneurs and which continues to have a sizeable presence in the country, to Canada Pension Plan Investment Board (CPPIB).
Abraaj invests in Pakistani diagnostics business
The Abraaj Group has invested an undisclosed sum in Islamabad Diagnostics Centre (IDC), an affordable health diagnostics provider with 20 facilities in Pakistan.
Warburg Pincus-backed Stellar makes Indian logistics bolt-on
Stellar Supply Chain Solutions, an Indian logistics company backed by Warburg Pincus, has taken control of refrigerated trucking specialist Kelvin Cold Chain.
Sun Capital sells US-based Lexington Home Brands to Chinese buyers
Sun Capital Partners has exited Lexington Home Brands, a US-based manufacturer of residential and contract furnishings, to Shenzhen-listed Luolai Lifestyle Technology and Chinese PE firm Yixing Capital.
Singapore's Marvelstone launches venture arm
Singapore-based private investment group Marvelstone has launched a venture capital arm that will focus on companies developing smart city technologies.
East Ventures raises $27.5m for SE Asia fund
Singapore-based East Ventures has raised $27.5 million for a fund that will invest in early-stage technology companies in Southeast Asia.
India's MCap cancels plans for a second fund
MCap Fund Managers, the Indian GP that spun-out from Baring Private Equity Partners India in 2010 and closed a $60 million fund the following year, will not raise a second vehicle.