News
Sequoia leads $70m round for China cloud services specialist
Existing investor Sequoia Capital China has led a $70 million Series C round for Yuntongxun, a Chinese provider of cloud-based services for corporate communications, followed by TrustBridge Partners.
Ping An commits $300m to PE-backed logistics platform
Ping An Real Estate, the real estate investment and asset management platform of China's Ping An Insurance Group, has committed $300 million to e-Shang Redwood (ESR), a real estate logistics platform backed by Warburg Pincus with operations in China,...
Stripes Group leads $81m round for India's Bigtree Entertainment
US venture capital firm Stripes Group has led an INR5.5 billion ($81.4 million) funding round for India’s Bigtree Entertainment, the company behind cinema and events ticketing site BookMyShow.
China's CIC backs buyout of French property services player
China Investment Corporation (CIC) has joined a consortium to acquire French property services company Foncia for EUR1.8 billion ($2 billion).
Legend spin-out Joy Capital raises $200m for VC fund
Joy Capital, a Chinese venture capital firm that spun out from Legend Capital, has raised $200 million for its debut fund.
Oaktree exits Australia's AMG to strategic player
Oaktree Capital Management has sold Australian media platform and content provider Active Media Group (AMG) to outdoor advertising business Val Morgan Outdoor (VMO) for an undisclosed amount.
Go Scale agrees EV battery partnership with SPI Energy
Go Scale Capital, a technology-focused PE firm with links to GSR Ventures, has teamed up with US-listed solar power specialist SPI Energy on a $500 million project to build an electric vehicle (EV) battery projects business in China and globally.
Gobi leads $3m round for Australia's Airwallex
Gobi Partners has led a A$5 million ($3 million) round of funding for Australia-based digital payment services developer Airwallex.
Korea's NPS allocates $605m to four local PE firms
South Korea’s National Pension Service (NPS) has allocated KRW700 billion ($605 million) to funds managed by domestic GPs VIG Partners, Skylake Investment, Lindemann Asia Investment and SG Private Equity.
WuXi, Boyu, Oriza commit $150m to China's CStone
WuXi Healthcare Ventures, Oriza Seed Venture Capital, and Boyu Capital have committed $150 million in Series A funding to Chinese bio-pharmaceutical developer CStone Pharmaceuticals.
DCM closes Asia-US fund at $500m hard cap
DCM has closed its latest global fund, which primarily targets investments in China and the US, at the hard cap of $500 million.
US-based Ayla gets $39m round for Asia expansion
Chinese boutique investment bank and asset manager Ants Capital has led a $39 million Series C round for Ayla Networks as the US-based internet-of-things (IoT) company consolidates its Asian footprint.
Australia's Telstra buys Blue Sky-backed Readify
Telstra has acquired Blue Sky Private Equity’s majority stake in Australian IT services company Readify.
SCPE invests in Singapore food ingredients retailer
Standard Chartered Private Equity (SCPE) has invested in Singapore-based food ingredients retailer Phoon Huat.
China opens local private funds space to foreign players
China has moved to open up its markets to overseas private fund managers by allowing wholly foreign-owned enterprises (WFOEs) and joint ventures to raise capital domestically and invest it in private companies and the stock markets.
KKR to part-exit China car dealership Rundong Auto
KKR will make a partial exit from Chinese car dealership China Greenland Rundong Auto as the company’s founder and president sealed agreements that will see him regain majority control and trigger a mandatory buyout offer.
IL&FS targets $500m India infrastructure fund
IL&FS Investment Managers (IIML), the private equity arm of India's Infrastructure Leasing & Financial Services, is raising a $500 million fund to invest in domestic road and energy projects.
First Reserve JV buys SE Asia oil industry servicing vessel
A joint venture controlled by energy-focused private equity firm First Reserve has acquired an 80% stake in a Southeast Asia servicing oil tanker for $166.3 million.
Armstrong, IFC back Vietnam hydropower producer
Armstrong Asset Management and the International Finance Corporation (IFC) will invest in Vietnamese hydropower company Gia Lai Electricity (GEC).
Mandala buys India's EFRAC for $10m
Mandala Capital, a South-Asia focused PE firm that invests in the agricultural sector, has paid $10 million for a 51% stake in Indian testing laboratory EFRAC.
China Everbright, IDG launch $3b M&A fund
China Everbright (CEL) and IDG Capital Partners have launched a joint M&A investment fund of at least RMB20 billion ($3 billion) in size that will support the growth of companies in China and overseas.
Navis seals healthcare deals in Indonesia, Vietnam
Navis Capital Partners has closed two Southeast Asia healthcare deals, with agreements to buy Indonesia-based medical devices distributor Tawada Healthcare and Vietnam’s Hanoi French Hospital.
AVCJ daily bulletin returns July 4
There will be no AVCJ bulletin on Friday July 1 due to a public holiday marking the establishment of Hong Kong Special Administrative Region.
Hahn & Co moves towards control of Korea's Ssangyong Cement
Korean GP Hahn & Company will assume majority control of Ssangyong Cement with the acquisition of a stake held by Japan-listed Taiheiyo Cement for KRW454.8 billion ($394 million).