News
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...
China's Yuze Semiconductor raises $178m
China’s Yuze Semiconductor, a specialist in single-crystal high-efficiency silicon wafers, has raised a CNY 1.2bn (USD 178m) Series B round featuring Goldstone Investment, a PE unit of CITIC Securities.
China gas station, charging pile platform Newlink secures $133m
Newlink Group, the operator of a China-based platform that helps drivers locate the best-value gas stations and charging piles, has raised CNY 900m (USD 133m) through a series of financing rounds involving three subsidiaries.
Capcon Semiconductor raises $50m
Hillhouse Capital, Cowin Capital, Chengchuang Capital, and SAIC Motor Corporation's Shangqi Capital have participated in a USD 50m extended Series B round for Capcon, a Chinese-founded supplier of semiconductor assembly and packaging equipment.
Accel backs India home construction start-up
Accel and fellow US venture firm Celesta Capital have led a USD 10m round for India’s Brick&Bolt, a consumer-facing end-to-end home construction platform.
India's Avataar hires partner from Alpha Wave Global
Avataar Venture Partners, an India-based investor in growth-stage B2B technology and software-as-a-service (SaaS) companies, has recruited Anirudh Singh from Alpha Wave Global as a partner.
Everstone, Goldman buy IT consulting player Cprime
India and Southeast Asia-focused private equity firm Everstone Capital has teamed up with Goldman Sachs Asset Management to acquire US-headquartered IT consulting business Cprime. The size of the transaction was not disclosed.
L Catterton joins round for e-bike player Tenways
Tenways, an electric bicycle manufacturer headquartered in the Netherlands with a strong supply chain in Asia, has raised CNY 300m (USD 44m) in Series A funding, including an extension led by L Catterton.
Nio Capital backs China battery recycling start-up
Nio Capital has led a Series A for China-based battery recycling start-up Ruilong Technology. The company did not disclose the exact size of the round, merely saying it amounted to several hundreds of millions of renminbi.
General Atlantic invests $130m in Indonesia's Cimory
General Atlantic has paid USD 130m for a 5.64% stake in Indonesian dairy and consumer goods producer Cimory, which completed a domestic IPO towards the end of 2021.
Carlyle buys India skincare, beauty platform
The Carlyle Group has acquired a majority stake in VLCC, an Indian skincare and beauty platform backed by Everstone Capital, for an undisclosed sum.
Allen & Overy adds fund formation partner in Shanghai
Allen & Overy has strengthened its Asia Pacific funds and asset management group with the appointment of Daisy Qi as a partner based in Shanghai.
ICG invests in Korea's Big Mama Seafood
Intermediate Capital Group (ICG) has announced a second deal in three weeks from its fourth Asia fund – which closed last year on USD 1.1bn – with a commitment of undisclosed size to Korea-based Big Mama Seafood.
China's CIC becomes largest state-owned investor - report
China Investment Corporation (CIC) surpassed Japan’s Government Pension Investment Fund (GPIF) and Norway’s Norges Bank Investment Management (NBIM) to become the world’s largest state-owned investor in 2022, according to Global SWF Tracker.
AC, Indies sign up to Malaysia government tech drive
Indonesia-focused AC Ventures and Indies Capital have agreed to support a Malaysian tech investment programme led by government VC unit Penjana Kapital.
Cloudview leads $221m round for China solar panel maker
China’s Cloudview Capital has led a CNY 1.5bn (USD 221m) Series B round for Astronergy, a solar panel manufacturer based in Zhejiang province.
Advent joins Series D for India's KreditBee
Advent International has committed USD 100m to Indian lending start-up KreditBee as an extension to a Series D round announced last month.
China's Breton Technology raises $84m
Breton Technology, a China-based manufacturer of new energy mining equipment, has closed an extended Series C round of CNY 579m (USD 84.5m) from a slew of domestic investors.
VIG acquires Korea's Eastar Jet
Korea’s VIG Partners has acquired 100% of local low-cost airline Eastar Jet for USD 117m, citing plans to introduce new aircraft to the fleet as part of a “quick turnaround.”
ChrysCapital acquires US-India IT player Xoriant for $350m
India’s ChrysCapital Partners has acquired Xoriant, a US-headquartered but primarily India-based software engineering and IT provider, for about USD 350m.
PAG invests $500m in China's iQiyi
PAG has invested USD 500m in China-based online video streaming platform iQiyi through a private placement of senior convertible notes.
Northstar hits first close on Southeast Asia VC fund
Southeast Asia-focused private equity firm Northstar Group has reached a first close of USD 90m on its first venture capital fund. The overall target is USD 150m.
Hong Kong's VMS appoints PE head
Hong Kong-based multi-strategy alternatives asset manager VMS Group has appointed Jianming Zou, formerly of New Horizon Capital, as head of private equity.
Australia's PEP ups target for latest secure assets fund
Pacific Equity Partners (PEP) has increased the target for its second Australia and New Zealand-focused secure assets fund to AUD 1.4bn (USD 949m), while pursuing a deal that would round off Fund I and fall into Fund II.