News
SIG Asia backs Country Style Cooking take-private
Chinese restaurant chain Country Style Cooking (CSC) has agreed to a take-private led my management and supported by SIG Asia. The deal values the business at approximately $140 million.
Investors agree $9.3b take-private for China's Qihoo 360
A string of domestic insurance companies have come in to support the $9.3 billion buyout of Qihoo 360 Technology, the largest private equity-backed privatization of a US-listed Chinese company.
Blume Ventures in $30m first close on second India fund
Blume Ventures has reached a first close of more than $30 million on its second India early-stage fund. The vehicle has a full target of $60 million.
Bain closes third Asian fund at hard cap
Bain Capital has closed its third Asian fund at the hard cap of $3 billion plus a GP commitment of at least $250 million. The fundraising process has taken approximately seven months.
India B2B logistics firm TrucksFirst raises $30m
TrucksFirst Services, an India-based business-to-business (B2) logistics services provider, has raised $30 million in a Series B round of funding provided by SAIF Partners and other investors.
AVCJ daily bulletin returns January 4
AVCJ's daily bulletin is taking a short break for the festive holiday season.
ChrysCapital seeks $600m for seventh India fund
ChrysCapital is targeting $600 million for its seventh India fund, as a number of domestic GPs look to capitalize on a renewed investor interest in the country and a strengthening economic outlook.
CX Partners' Ajay Relan to step back
Ajay Relan, co-founder of India-focused private equity firm CX Partners, is taking a step back with Jayanta Basu assuming responsibility for daily operations as managing partner.
Fosun forges partnership with China’s Modern Sky
Shanghai Joy Network, a media and entertainment investment group owned by Fosun's chairman and founder Guo Guangchang, has committed RMB130 million ($20 million) in Series B funding to Modern Sky Entertainment, a concert and festival event organizer in...
Actor Hugh Jackman invests in L Capital-owned RM Williams
Australian actor Hugh Jackman has invested in bootmaker R.M. Williams, alongside majority shareholder L Capital Asia.
New Forests invests in Indonesia rubber plantation
Agriculture and timberlands investor New Forests has agreed to invest in a large-scale rubber plantation in Indonesia with local strategic partner Sampoerna Agro.
Sohu chairman submits PE-backed take-private offer
NASDAQ-listed Chinese internet company Sohu has received a take-private proposal from its chairman and CEO alongside an unnamed private equity firm.
China cloud-computing provider UnitedStack raises Series C
UnitedStack, which claims to be the first OpenStack-enabled cloud computing provider in China, has received a Series C round of funding of undisclosed size from Sequoia Capital.
China online ticketing sites Weiying Times, Gewara to merge
Chinese movie ticket-booking platforms Beijing Weiying Times Technology and Gewara – both of which have received several rounds of funding from VC and strategic investors – have agreed to merge.
Blackstone invests $170m in India's IBS, General Atlantic exits
The Blackstone Group has acquired a minority stake in India-based IBS Software for $170 million, facilitating an exit for General Atlantic.
IFM agrees sale of Pacific Hydro to China's SPIC
IFM Investors has agreed to sell Australia-headquartered renewable energy platform Pacific Hydro to China’s State Power Investment Corporation (SPIC).
VIG Partners buys Korean PVC window maker
VIG Partners – which recently changed its corporate name from Vogo Investment – has agreed to buy Winche, a South Korea-based manufacturer of PVC windows, for KRW135 billion ($114 million).
TPG sells HCP Packaging to Baring, returns $1.55b to LPs in 2015
TPG Capital has returned $1.55 billion to investors from its Asia portfolio in 2015, including $775 million from the sale of HCP Packaging to Baring Private Equity Asia.
SMFG agrees to buy GE's Japan leasing unit for $4.8b
Sumitomo Mitsui Financial Group (SMFG) has agreed to buy GE Capital’s Japan leasing business for JPY575 billion ($4.8 billion) as parent company General Electric continues to pare its assets.
China's Cowin Capital to exit jewelry retailer Myray
Shenzhen Cowin Capital is poised to exit jewelry retailer Myray to Gansu Gangtai Holdings following the Shanghai-listed company's agreement to buy a further 36.96% of Myray for RMB170 million ($26 million).
Alibaba, Tencent join PE-backed group to take Bona Film private
Chinese internet giants Alibaba Group and Tencent Holdings have joined a PE-backed consortium seeking to privatize Chinese film studio and distributor Bona Film Group.
Anand Prasanna leaves Morgan Creek
Anand Prasanna, a director with Morgan Creek Capital Management in Shanghai, has left the firm to pursue entrepreneurial opportunities in India.
China Phoenix TV’s online finance platform secures $80m
Fengjr.com, an online finance platform created by Chinese television broadcaster Phoenix Satellite TV, has raised an $80 million Series A round led by CITIC Asset Management and CASH Capital – the VC arm of the state-owned Chinese Academy of Sciences...
WuXi Healthcare closes second Sino-US VC fund at $290m
WuXi Healthcare Ventures, a corporate venture arm owned by China-based WuXi PharmaTech, has closed its second early-stage healthcare fund at $290 million, exceeding the target of $200 million.