News
Northern Light leads $12m Series B round for China's Teambition
Northern Light Venture Capital has led a $12 million Series B round for Chinese collaboration app Teambition, with participation by existing investors IDG Capital Partners, Vangoo Capital and Gobi Partners.
Blackstone rejects Gateway offer for India freight business
The Blackstone Group has rejected an offer from Indian logistics player Gateway Distriparks (GDL) to buy its stake in freight subsidiary Gateway Rail Freight (GRFL) for INR6 billion ($90.3 milion).
PE firms set for part-exits as IMAX China targets $276m HK IPO
FountainVest Partners and CMC Capital Partners plan to make partial exits from IMAX China as the movie theater operator looks to raise as much as $276 million in a Hong Kong IPO.
NewQuest, Tsing exit China Hydroelectric to Shenzhen Energy
Publicly-traded Shenzhen Energy has agreed to acquire China Hydroelectric for $542.6 million, paving a full exit for PE backers NewQuest Capital Partners and Tsing Capital.
Hong Kong Broadband's PE backers make partial exit
CVC Capital Partners and its co-investors, AlpInvest Partners and GIC Private, have sold a 7.6% stake in Hong Kong Broadband (HKBN), the internet services provider they acquired in 2012 and took public in March.
India's TVS Capital commits $12.9m to Prabhat Dairy
TVS Capital Funds has bought a 7.6% stake in recently-listed milk products manufacturer Prabhat Dairy, for INR850 million ($12.9 million).
Carlyle exits India's Elitecore to Sterlite
Indian optical fiber and power cable producer Sterlite Technologies has bought telecommunication software developer Elitecore Technologies from The Carlyle Group.
Tiantu leads $63m round for China fruit store chain
Chinese fruit store chain Pagoda has completed a RMB400 million ($63 million) Series A round of funding, with consumer-focused GP Tiantu Capital contributing RMB350 million.
China delivery app Beequick raises $70m
Beequick, a Chinese online food and drink delivery app, has completed a Series C round worth $70 million from Hillhouse Capital, Eastern Bell Venture Capital, Tiantu Capital and Sequoia Capital.
CDC invests $55m in Asia frontier markets online retailer
CDC Group, the UK development finance institution, has invested EUR50 million ($55 million) in Daraz, an online retailer operating in Pakistan, Bangladesh and Myanmar.
India home healthcare provider gets $37.5m
Accel Partners has led a $37.5 million Series B round for home healthcare start-up Portea Medical, with participation from the International Finance Corporation (IFC), Qualcomm Ventures, and Ventureast.
Hudson commits $100m to Japan, Latin America solar partnership
Hudson Clean Energy Partners has teamed up with independent power producer Sky Solar to develop solar projects in Japan and Latin America. The PE firm will contribute $100 million to the partnership.
CMC in $65m round for US VR tech developer Jaunt
Jaunt, a US-based start-up that develops virtual reality (VR) technology, has received a $65 million Series C round of funding led by Walt Disney, media-focused PE firm China Media Capital (CMC), TPG Growth, Evolution Media Partners and Participant Media....
Chrysalix, HKSTP form clean energy partnership
Canadian VC firm Chrysalix Energy Venture Capital has partnered with the Hong Kong Science & Technology Parks Corporation (HKSTP) to support cleantech start-ups.
Singapore's NRF commits $28m to VC funds
Singapore's National Research Foundation (NRF) will commit S$40 million ($28 million) to local venture capital funds through the third installment of its Early Stage Venture Fund (ESVF).
Hony targets $2b for flagship China fund
Hony Capital is looking to raise $2 billion for its latest Greater China-focused fund. A first close of $1 billion is expected in mid-October.
Mergermarket Group acquires AVCJ
Asian Venture Capital Journal has been acquired by Mergermarket Group, a BC Partners portfolio company. It brings to an end Incisive Media’s nine-year tenure as owner of the brand.
Bain invests $199m in India's L&T Finance
Bain Capital has acquired a 10.3% stake in L&T Finance Holdings, the financial services unit of Indian engineering conglomerate Larsen & Toubro (L&T), for approximately INR13.04 billion ($199 million).
PE backers to exit 7 Days Group to hotel operator Jin Jiang
A group of PE backers, including The Carlyle Group and Actis Capital, are set to exit Chinese budget hotel chain 7 Days Group as industry peer Shanghai Jin Jiang Hotels agreed to acquire a majority stake in the company for RMB8.3 billion ($1.3 billion)....
Secondaries specialist NewQuest to seek $500m for Fund III
NewQuest Capital Partners, which targets secondary direct transactions across Asia, wants to raise $500 million for its third pan-regional fund.
EMR Capital to buy Australian copper mine
EMR Capital has agreed to buy Australia's Mt. Gordon copper mine from its current owner, India's Aditya Birla Minerals, for A$15 million ($10.8 million).
India's Trifecta reaches $30m first close on venture debt fund
Trifecta Capital, the venture debt firm set up by former Canaan Partners Managing Director Rahul Khanna, has reached a first close of INR2 billion ($30 million) on its debut fund.
BlaBlaCar raises $200m for emerging markets push
Insight Venture Partners and Lead Edge Capital have led a $200 million Series D round for French ride-sharing start-up BlaBlaCar to fuel its push into emerging markets.
China VCs back US communications start-up
A group of VC investors including Morningside Technologies, SIG, GGV Capital, Shunwei Capital Partners and IDG Capital Partners have invested in a $20 million Series B round of funding for Agora, a US-based communications-as-a-service provider.