News
Bain-led consortium closes tender for Japan's Hitachi Metals
A Bain Capital-led consortium has completed its tender offer for Hitachi Metals – at a valuation of JPY 816.8bn (USD 5.6bn) – 18 months after first submitting a bid for the Japan-based industrial components manufacturer.
China’s Welkin Capital puts IPO on hold
China’s Welkin Capital has paused a planned USD 300m London IPO for an entity seeded with assets from its debut private equity fund, citing macro uncertainty and market volatility.
US GP buys India’s Acqueon from Everstone
US-based Long Ridge Equity Partners has acquired a majority stake in Indian customer engagement software provider Acqueon from Everstone Capital for an undisclosed sum.
CDPQ invests $474m in Japan energy programme
Caisse de depot et placement du Quebec (CDPQ) has committed JPY 70bn (USD 474m) to a Japanese energy transition programme led by local renewables developer Shizen Energy.
China EV brand Aion raises $2.5b
GAC Aion, an electric vehicle (EV) brand under GAC Group, a Chinese state-owned automotive manufacturer, has raised CNY 18.3bn (USD 2.5bn) in Series A funding at a valuation of CNY 103.2bn from 53 so-called strategic investors.
KKR, Mubadala form $1b Asia credit partnership
KKR and Mubadala Investment – a sovereign investor controlled by the government of Abu Dhabi – have established a partnership through which they will co-invest in performing credit opportunities across Asia Pacific.
Sofina leads $46m round for India agtech player DeHaat
Sofina, a Belgium-headquartered holding company and an active investor in Asia-based start-ups, has led a INR 3.66bn (USD 45.8m) Series E round for Indian agricultural technology platform DeHaat at a valuation of USD 695m.
Philippines fintech start-up gets $16m Series A
Abu Dhabi’s ADQ has backed a USD 16m Series A round for a Philippines-based financial technology start-up founded by former executives of Russian digital banking leader Tinkoff Bank.
PE investors commit $500m to India agribusiness giant UPL
India-headquartered UPL, which claims to be the world’s fifth-largest agrochemicals company, has announced a restructuring that will see KKR, TPG, Brookfield Asset Management, and Abu Dhabi Investment Authority (ADIA) invest INR 40.4bn (USD 500m) across...
Carlyle poaches Morrison's Australia, New Zealand co-head
The Carlyle Group has appointed Geoff Hutchinson, formerly of Morrison & Co. and Pacific Equity Partners (PEP) as a managing director and head of private equity for Australia and New Zealand.
Permira shuts down Japan office
Permira is closing its Japan office, 17 years after establishing its first Asian foothold in Tokyo.
Saudi Arabia's Sidra targets Asia, teams up with BlackRock
Sidra Capital, a Saudi Arabia-based alternative asset manager, has teamed up with BlackRock to offer shariah-compliant private equity opportunities in Asia Pacific.
VC-backed Singapore biotech start-up agrees SPAC merger
Singapore’s AUM Biosciences, a VC-backed oncology treatments developer, has agreed to a NASDAQ listing via special purpose acquisition company (SPAC) at a pre-money equity valuation of USD 400m.
Pavilion backs Singapore influencer platform
Temasek Holdings-owned Pavilion Capital has joined a USD 7m round for Singapore’s Partipost, which claims to be Asia’s fastest-growing crowd influencer marketing and commerce platform.
Indonesia solar start-up raises $33m Series A
Indonesia’s Xurya, a solar power rental and installation start-up, has lifted its Series A round to USD 33m with new commitments from Mitsui & Co and local property conglomerate Surya Semesta Internusa.
Warburg Pincus commits $350m to SE Asia insurance platform
Warburg Pincus has seeded a digital insurance platform for Southeast Asia with a USD 350m equity commitment and two recent acquisitions from Spain-headquartered insurance giant Mapfre.
Permira recruits India head from Warburg Pincus
Permira has established a presence in India and recruited Siddharth Narayan, who previously spent a decade at Warburg Pincus, as country head.
Globis leads $22m Series C for Japan's Trend Express
Globis Capital Partners has led JPY 3.3bn (USD 22.1m) Series C round for Japan’s Trend Express, a cross-border marketing and data analysis platform focused on Japan-China tourism.
India's Ather Energy adds $50m to Series E
India’s Ather Energy, a two-wheel electric vehicle (EV) brand, has raised about USD 50m from existing investors, extending its Series E round to around USD 178m.
China energy storage player Hithium gets $276m Series B
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has secured CNY 2bn (USD 276m) in Series B funding led by ABC International.
Horizons leads Series A for Australia's Nourish Ingredients
Nourish Ingredients, an Australia-based alternative protein start-up that uses synthetic biology to produce animal-free fats, has raised USD 28.6m in Series A funding.
Baring Asia, EQT plan rollout of additional Asia strategies
Mid-cap buyout has been primed as the first of multiple strategies EQT pursues in Europe and North America that will be rolled out in Asia following the completion of the firm’s merger with Baring Private Equity Asia (BPEA).
Advantage recruits partner, co-head for Asia ex-Japan
Japan’s Advantage Partners has hired Rahul Bhargava, previously of ADV Partners, as a partner and co-head of Asia ex-Japan. It coincides with the acquisition of a Japanese jewellery industry supplier.
Korea pizza chain raises $25m for India push
Korea-headquartered pizza chain Gopizza has raised USD 25m in Series C funding from new and existing backers to drive an India expansion.