News
Bain buys Chinese financial leasing business
Bain Capital has acquired an 80% interest in China-based Lionbridge Financial Leasing. It is the private equity firm's first investment in China's financial services sector.
Chinese consortium, Benchmark in $70m US education play
Chinese after-school tutoring provider TAL Education Group has teamed up ZhenFund, Yongjin Group and Silicon Valley VC firm Benchmark Capital to invest in an undergraduate education business in the US.
India's Lightbox reaches $100m close on Fund II
Indian venture capital firm Lightbox Management has reached a INR6.1 billion ($100 million) close on its second fund.
Former Carlyle, TPG executives plan $500m India fund
Rajeev Gupta, formerly of The Carlyle Group, and Amol Jain, previously of TPG Capital, are launching a new PE fund that will focus on mid-market buyout opportunities in India.
Levin Zhu resigns as CEO of CICC
Levin Zhu, son of former Chinese premier Zhu Rongji, has resigned as CEO and chairman of the management in China International Capital Corporation (CICC) after 16 years.
DCM raises $170m China top-up fund, wins SFERS backing
The San Francisco Employees' Retirement System (SFERS) has committed $25 million to a China-focused venture capital fund being raised by DCM that will make follow-on investments in later-stage portfolio companies.
Bain leads $18m investment in Korean car-sharing service
Bain Capital has led a KRW18 billion ($18 million) Series A round of funding for Socar, a Korean car sharing company.
SoftBank to buy VC-backed online video site DramaFever
Japanese telecom giant SoftBank has agreed to buy DramaFever, a streaming video service that specializes in Korean TV shows and movies. Financial details were not disclosed.
CyberAgent, Mizuho back Japan venue rental marketplace
CyberAgent Ventures and Mizuho Capital have together invested JPY100 million (about $1 million) in SpaceMarket, a Japanese online platform that lists vacant spaces that users can rent for corporate events such as meetings and training courses.
Baring Asia reaches $3.2b first close on Fund VI
Baring Private Equity Asia has reached a $3.2 billion first close on its sixth pan-regional fund, exceeding its original target of $3 billion for the entire vehicle.
Hahn & Co in $900m first close on second Korea fund
South Korean GP Hahn & Co – which was founded by Scott Hahn, formerly CIO of Morgan Stanley Private Equity Asia (MSPEA) – has reached a first close of approximately $900 million on its second fund.
PayU acquires VC-backed Indian payments start-up
Online payment solutions provider PayU India has acquired Cobboc, the VC-backed start-up behind mobile payments app Eashmart.
Shaw Kwei to support German manufacturer in China expansion
Shaw Kwei & Partners has invested $40 million in German equipment manufacturer Schmid Group to support the company’s expansion domestically and in China.
Voting for the 2014 AVCJ Awards has now closed
Voting for the 2013 AVCJ Private Equity & Venture Capital Awards has now closed. Thank you for taking the opportunity to pay tribute to the leading fundraises, investments, exits, individuals and firms of the past 12 months.
CVC set for partial exit from Indonesia's Link Net
CVC Capital Partners is set for a partial exit from Link Net, Indonesia’s second-largest fixed-line broadband and cable TV operator, through a share placement.
Tencent leads $100m round for Chinese medical service platform
Tencent Holdings has led a $100 million round of funding for Guahao.com, a Chinese healthcare information portal.
Warburg Pincus leads $30m round for India's CarTrade
Warburg Pincus has led a INR1.85 million ($30 million) investment in Indian auto classifieds site CarTrade. Existing investors Canaan Partners and Tiger Global also took part.
India payments firm FSS raises $57m from Premji Invest
Premji invest - the family office of Wipro Enterprises chairman Azim Premji - has invested INR3.5 billion ($57 million) India payments firm FSS.
Intel invests in China cloud communication service Gotye
Intel Capital, the corporate investment arm of the US chipmaker Intel Corp, has invested an undisclosed sum in Gotye.com, a Shanghai-based start-up that provides cloud communication technology solutions.
J-Star to exit healthcare firm HCM to Alshok Group
Japanese security firm Alshok Group has agreed to acquire Tokyo-based healthcare service provider HCM Corporation, paving an exit for mid-market GP J-Star.
Gree Ventures backs Japan marketing start-up
Japanese online marketing firm Somewrite has raised JPY100 million (about $1 million) from corporate venture capital arm Gree Ventures and other undisclosed investors.
Gaja reaches $130m first close on second India fund
Indian mid-market GP Gaja Capital has reached a $130 million first close on its second fund - Gaja Capital Fund II.
Bertelsmann Asia launches angel fund in China
Bertelsmann Asia Investments (BAI), the Beijing-based investment arm of German media giant Bertelsmann, has launched a new angel fund to focus on seed-stage investments in China.
China's Xiaomi commits $14m to GPS firm Careland
Chinese VC-backed smart phone maker Xiaomi has invested RMB84 million ($14 million) in Careland Information System, a Shenzhen-based GPS mapping technology developer.