News
IFC to invest $25m in India's BigBasket
The International Finance Corporation (IFC), the investment arm of the World Bank, will commit $25 million to Indian online grocer BigBasket.
Legend transfers CAR shares to PE-backed Ucar
Legend Holdings, the largest shareholder in Hong Kong-listed China Auto Rental (CAR), has transferred part of its shares in the company to Ucar Technology, a Chinese chauffeured car service provider.
Nippon Life to raise stake in India's Reliance Capital
Japanese life insurance firm Nippon Life will pay INR12 billion ($184 million) to increase its stake in Indian asset manager Reliance Capital Asset Management (RCAM).
SoftBank backs US-based Cybereason, supports Japan expansion
SoftBank Corp. has led a $59 million Series C round of funding for US-based Cybereason and will help the company distribute its cyber-security platform in the Japanese market.
KKR, Alibaba, Ping An commit $300m to 58.com's O2O unit
KKR, Alibaba Group and Ping An Group have agreed to provide $300 million in Series A funding to 58 Daojia, the online-to-offline (O2O) local services platform of US-listed Chinese classifieds site 58.com.
AngelList raises $400m from China's CSC Group
Start-up funding platform AngelList has raised a $400 million early-stage focused fund from CSC Venture Capital, the US arm of private equity firm China Science & Merchants Investment Management Group, also known as CSC Group.
Temasek, Silver Lake back Dell in $67b acquisition of EMC
Singapore's Temasek Holdings is supporting the $67 billion acquisition of data storage and cloud computing company EMC Corporation by US-based computer maker Dell. Other backers include Silver Lake and MSD Partners.
Everstone pays $54m for controlling stake in India's SJS - update
Everstone Capital has reportedly bought a 51% stake in India-based industrial graphics maker SJS Enterprises for INR3.5 billion ($54 million).
NLVC leads round for China-based English learning platform
Northern Light Venture Capital (NLVC) has led a $20 million Series B round of funding for VIPKID, a China-based English-language learning platform that targets primary and secondary school students.
Cardno board rejects takeover bid from Australia's Crescent
The board of Australian engineering company Cardno has advised shareholders to reject a buyout offer from Crescent Capital Partners on the grounds that it is opportunistic and undervalues the business.
Vertex Ventures appoints India head
Vertex Ventures, a VC firm controlled by Singapore’s Temasek Holdings, has appointed Ben Mathias as managing director and head of India. He joins from New Enterprise Associates.
Apax buys stake in Indian IT player Zensar, Electra exits
Apax Partners has acquired a 23.2% stake in India-based Zensar Technologies for $129 million, providing an exit for Electra Partners, which has been an investor in the business since 1997.
CMC Capital Partners to raise $1b China media fund
China’s CMC Capital Partners, a private equity firm set up by Ruigang Li, formerly president of Shanghai Media Group (SMG), is looking to raise $1 billion for a media-focused fund.
India's Elgi Equipments gets $6.5m from Nalanda
Singapore-based Nalanda Capital has bought an approximately 2% stake in compressed-air equipment manufacturer Elgi Equipments for INR420 million ($6.5 million).
IDG leads $15m round for China healthcare start-up
IDG Capital Partners has led a $15 million Series A round for Zhangshang Tangyi, a Chinese start-up that is developing a health data tracking device and mobile app for people with diabetes.
Aion invests $90m in India's Varun Beverages
Aion Capital has invested INR6 billion ($90 million) in India's Varun Beverages (VBL), a major drinks manufacturer and bottler for PepsiCo in South Asia.
Warburg Pincus, Embassy in $250m India warehousing JV
Warburg Pincus and Indian real estate developer Embassy Group has formed a joint venture to build industrial parks with warehousing facilities in key cities in India.
Philippines' PLDT Capital backs US start-up
PLDT Capital, the recently-formed investment arm of Philippine Long Distance Telephone (PLDT), has committed $10 million to US mobile app development platform Phunware and will support expansion in Southeast Asia.
PE-backed Giant to re-list in Shenzhen via reverse merger
Chinese online game developer Giant Interactive Group, which was taken private last year by a consortium of PE investors in conjunction with the company’s CEO, is seeking to re-list in Shenzhen through a reverse merger.
QIC leads $1.3b purchase of Australian gas storage facility
QIC Global Infrastructure Fund has led a consortium to purchase the Iona Gas Storage Facility in Australia for A$1.78 billion ($1.3 billion).
Sequoia, Kalaari commit $10m to India's Grabhouse
Sequoia Capital and Kalaari Capital have committed $10 million in Series B funding to Indian start-up Cryptopy Technologies, the developer of rental property listing platform Grabhouse.
Northstar set for $800m close on Fund IV
Northstar Group is scheduled to reach a final close on its fourth fund – which targets Southeast Asia, with a particular focus on Indonesia – at approximately $800 million at the end of October.
Lippo sponsors Southeast Asia VC fund
Former Monk's Hill Ventures partner Stefan Jung has announced the launch of Venturra Capital, a new Southeast Asia-focused VC fund backed by the Lippo Group.
AGIC reaches $550m first close on China-Europe fund
Asia-Germany Industrial Promotion Capital (AGIC), a PE firm focused on China-Europe cross-border investments, has reached a first close of $550 million on its debut fund.