News
Thailand’s Medical Departures raises $2.5m
Singapore-based venture capital firm DMP has led a $2.5 million Series A round for clinical services marketplace Medical Departures.
Alibaba, Yunfeng-backed YTO Express set for $2.7b backdoor listing
Chinese clothing maker Dalian Dayang Trands has agreed to acquire Shanghai's YTO Express, which is backed by Alibaba Group and Yunfeng Capital, for RMB17.5 billion ($2.7 billion), resulting in a backdoor listing in Shanghai for the courier service provider.
Advent raises $13b for global fund
Advent International has closed its eighth global fund at the hard cap of $13 billion after approximately six months in the market.
Japan's GPIF appoints new president
Japan’s Government Pension Investment Fund (GPIF) has appointed Norihiro Takahashi, a long-standing executive at Norinchukin Bank, as its president.
Sequoia, Sofina commit $75m to India-based Byju's
India education start-up Byju’s has raised $75 million from Sequoia Capital and Belgium’s Sofina to diversify its product pipeline and for international marketing.
KKR wins approval to back India bad debt manager
India's Foreign Investment Promotion Board (FIPB) has approved KKR's request to buy a stake in distressed asset manager International Asset Reconstruction Company (IARC).
Google Capital invests in India's CarDekho
Indian automobile trading platform CarDekho has secured an undisclosed investment from Google Capital, with participation from existing investor Hillhouse Capital.
China third-party insurance platform Hzins raises $30m
Hzins.com, a Chinese third-party insurance service provider, has raised RMB200 million ($30 million) in a Series B round of funding from domestic GPs including Beijing Wanrong Times Capital and Shenzhen CDF-Capital.
Sequoia targets $1.45b for China VC, growth funds
Sequoia Capital is expected to raise up to $1.45 billion for its latest China venture and growth funds, having penciled in April 7 for a final close.
India's Ambit Pragma exits Spear Logistics to French strategic
Indian mid-market PE firm Ambit Pragma has exited its majority stake in Spear Logistics to French multinational FM Logistic.
NZVIF commits $13.5m to Movac's fourth fund
New Zealand Venture Investment Fund (NZVIF) has committed NZ$20 million ($13.5 million) to the fourth fund of domestic early-stage investor Movac Partners.
Fosun Kinzon leads $15m round for China medical app
Fosun Kinzon Capital, a VC arm backed by Fosun Group, has led a RMB100 million ($15 million) Series B round for Easyhin, a Chinese mobile app that provides healthcare services to mothers and children.
Primavera, JC Flowers back Anbang's $13b Starwood bid
Primavera Capital and J.C. Flowers & Co. have been confirmed as co-investors in a $13.1 billion all-cash offer for Starwood Hotels & Resorts Worldwide submitted by China-based Anbang Insurance Group.
China B2B online liquor retailer Yi Jiu Pi raises $30m
Yi Jiu Pi, a Chinese B2B online liquor retailer, has raised an extended Series B round worth RMB200 million ($30 million) co-led by domestic GPs Yuan Sheng Ventures and Eastern Bell Venture Capital.
Altos closes second Korea VC fund at $110m
US-based venture capital firm Altos Ventures has closed its second Korean Opportunity Fund (KOF) at the hard cap of $110 million.
Gaja targets mix of majority, minority India deals
One of the first two investments from Gaja Capital's recently closed third fund is a control transaction and Gopal Jain, the firm's managing partner, expects more of the same as the Indian economy matures.
SCPE, Goldman invest $28m in Vietnam's M_Service
Standard Chartered Private Equity (SCPE) and Goldman Sachs have invested a combined $28 million in M_Service, the operator behind Vietnamese mobile e-wallet platform MoMo.
India's Alliance Insurance Brokers raises $8.2m
Access Asset Managers has invested INR550 million ($8.2 million) in Alliance Insurance Brokers, a business-to-business (B2B) focused insurance and risk assessment services provider.
India clarifies safe harbor rules for offshore funds
India's government has clarified the "safe harbor" provision in the country's tax code in a move expected to allow offshore funds doing business in the country to operate with less tax exposure.
Partners Group raises $2.8b for global secondaries program
Partners Group has closed its sixth dedicated private equity secondary program at the hard cap of EUR2.5 billion ($2.8 billion).
Ekuinas agrees Malaysia education bolt-on
Malaysian PE firm Ekuinas is set to consolidate its control of the Asia Pacific Institute of Information Technology (APIIT) after Sapura Resources agreed to sell its stake in the group, plus related education assets, for MYR247 million ($60.9 million).
Sequoia, TrustBridge back China chemicals e-commerce site
Sequoia Capital and TrustBridge Partners have co-led a Series C round of funding for Molbase, a Chinese B2B e-commerce platform that sells chemical products.
TPG targets India distress
TPG Capital is planning to invest up to $3 billion in India-based distressed assets over the next three years, according to Jim Coulter, the firm's co-founder and co-CEO.
Baring, Glenwood to buy LafargeHolcim's Korea business
Baring Private Equity Asia has agreed to buy LafargeHolcim’s Korea-based cement business in a joint deal with local GP Glenwood Private Equity worth approximately KRW560 million ($482 million).