News
Australia's Perpetual rejects $1.1b bid from BPEA EQT, Regal
Australia-based asset manager Perpetual has rejected a buyout offer from BPEA EQT – formerly Baring Private Equity Asia – and listed alternatives manager Regal Partners that values the company at approximately AUD 1.7bn (USD 1.07bn).
China's Inspiration Capital closes Fund II on $82m
Inspiration Capital, a spinout from Qiming Venture Partners, has raised CNY 600m (USD 82m) for its second renminbi-denominated fund focused on cleantech and advanced manufacturing investments in China.
P&G establishes $24m India innovation fund
Procter & Gamble’s (P&G) India unit has established a INR 2bn (USD 24.1m) fund that will invest in technologies that help address challenges within its core business.
Australia VC player Blackbird closes $647m fund
Blackbird Ventures has raised AUD 1bn (USD 647m) for its latest fund, which will invest in “generational” technology companies in Australia and New Zealand. It is the largest ever VC fund raised by an Australia-based manager.
Quadrant spins Australia car services business into continuation fund
Quadrant Private Equity has closed a AUD 255m (USD 165m) single asset continuation fund for MotorOne, an Australia-based automotive after-market services provider it has owned since 2016.
China used goods platform Plum gets $100m Series C
Plum, a China-based online retailer specialising in second-hand apparel and accessories, has raised USD 100m series C funding led by Zhuanzhuan Group, another used goods marketplace.
Bain makes $179m partial exit from India's Axis Bank
Bain Capital has generated proceeds of INR 14.9bn (USD 179.7m) through a partial exit from Axis Bank, a listed Indian lender it first backed five years ago.
Australia recycling start-up Samsara Eco raises $34m
Samsara Eco, an Australia-based start-up that has developed enzymes capable of breaking down plastics into their core molecules so they can be reconstituted in new items, has raised AUD 54m (USD 34.6m) in Series A funding.
China's Bright Capital raises $137m
China-based venture capital firm Bright Capital has raised CNY 1bn (USD 137m) across two funds - its third renminbi-denominated vehicle and its first US dollar fund.
BII leads $25m round for India's Kinara Capital
British International Investment (BII), a UK development finance institution, has led a USD 25m equity funding round for Kinara Capital, an Indian non-banking financial company (NBFC) that lends to micro, small, and medium-sized enterprises (MSMEs).
Warburg Pincus, Malabar commit $60m to India wearables brand
Warburg Pincus and Malabar Investments have injected USD 60m into boAT, an India-based manufacturer of wearables and other electronic devices that was previously on track for an IPO.
TPG completes buyout of Australia's iNova Pharmaceuticals
TPG has completed its acquisition of a majority stake in Australia-based prescription medicines business iNova Pharmaceuticals, facilitating exits for Pacific Equity Partners (PEP) and The Carlyle Group.
Hong Kong payments player Reap gets $40m Series A
Hong Kong-based financial technology company Reap has raised a USD 40m Series A - comprising equity and debt - led by Acorn Pacific Ventures, Arcadia Funds, and HashKey Capital.
Investcorp, Fung Capital launch $500m GBA fund
Bahrain-headquartered Investcorp and Fung Capital, the PE investment arm of Hong Kong’s Fung Investments, have established a USD 500m Greater Bay Area (GBA) fund.
BGH, Sixth Street agree $933m buyout of New Zealand's PushPay
BGH Capital and Sixth Street Partners have agreed to acquire PushPay, a New Zealand and Australia-listed payments business specialising in donor management, for an enterprise value of NZD 1.54bn (USD 933m).
Roc leads Series B for Australia carbon credits specialist
Australia’s Roc Partners has led a AUD 55m (USD 35.6m) Series B round for local carbon credits platform and sustainability advisory Viridios Group.
Axiom, Pavilion back Japan climate tech start-up Asuene
Axiom Asia and Temasek Holdings-controlled Pavilion Capital have joined a USD 20m Series B round for Asuene, a Japan-based climate technology start-up that helps companies track carbon emissions.
India's Jashvik Capital reaches first close on debut PE fund
India’s Jashvik Capital, a private equity firm set up by Naresh Patawari, formerly a partner at TA Associates, has achieved a first close of undisclosed size on its debut fund. The target is USD 350m.
KKR buys Next Digital Engineering from Rohatyn
KKR has agreed to buy Ness Digital Engineering, a US-based provider of digital transformation services that has a significant back-end service delivery presence in India, for an undisclosed sum.
Hidden Hill leads $330m round for Geely's China NEV unit
Farizon Auto, a new energy vehicle (NEV) brand under Chinese automaker Geely, has secured USD 300m in pre-Series A funding led by Hidden Hill Capital, a private equity arm of local warehouse operator turned logistics and infrastructure investment manager...
Australia’s Square Peg raises $550m across two VC funds
Australian venture capital firm Square Peg Capital has raised USD 550m across two vehicles, including its fourth flagship early-stage fund and a follow-on fund.
65 Equity invests $107m in Singapore's Cityneon
Temasek Holdings-backed 65 Equity Partners has invested SGD 150m (USD 107m) in Singapore’s Cityneon, a company that markets entertainment brands by staging elaborate events, displays, and exhibitions.
China IT maintenance player raises $27m
Chinese IT system operations and maintenance solutions provider Bizseer Technology has raised a Series C round of about CNY 200m (USD 27m) led by Firstred Capital.
Australia's Elmo Software agrees take-private with US GP
K1 Investment, a US-based private equity that focuses exclusively on enterprise software companies, has agreed to acquire Australia-listed Elmo Software at a valuation of AUD 483m (USD 313m).