News
Vista Equity acquires Indian-owned TIBCO in $4.3b take-private
Tech-focused GP Vista Equity Partners has agreed to buy TIBCO Software, the US-listed business software provider founded by Indian entrepreneur Vivek Ranadivé, in a deal worth $4.3 billion including debt.
VC-backed Chinese car rental firm eHi files for US IPO
EHi Car Services, a Shanghai-based car rental company backed by a string of VC investors, has filed for an IPO on the New York Stock Exchange (NYSE).
Shaw Kwei invests $17m in Singapore marine logistics firm
Greater China and Southeast Asia-focused private equity firm Shaw Kwei & Partners has paid $17 million for a 60% stake in Singapore marine logistics firm Amos International.
Southern Capital agrees $180m Singapore engineering carve-out
Southern Capital Group has agreed to acquire a majority stake in United Engineers’ Singapore-listed engineering and construction division for S$230.2 million ($180 million) in cash.
GGV, Tencent invest $13m in US tracking device maker
Tile, a US start-up that makes devices used to track lost items, has raised $13 million in funding from China-based investors.
NZ regulator targets Archer consortium over aborted Abano deal
A consortium of investors including Archer Capital is subject to a civil action launched by New Zealand’s Financial Markets Authority (FMA) over an unsuccessful bid for Abano Healthcare Group.
IFC set to invest as Everstone targets $650m for Fund III
The International Finance Corporation (IFC) has proposed investing up to $50 million in India-focused GP Everstone Capital’s third fund, which has a target size of $650 million.
3i exits Asian medical device maker LHi to US trade buyer
3i Group has exited LHi Technology – a medical equipment manufacturer bought from Baring Private Equity Asia in 2008 – to US-based Carlisle Companies for an enterprise valuation of around $195 million, claiming a 2.9x money multiple.
Rocket Internet shares close down 13% on Frankfurt debut
German internet incubator and investor Rocket Internet saw its shares close down 13% on the first day of trading on the Frankfurt Stock Exchange following a EUR1.6 billion ($2 billion) IPO.
Kendall Court exits Malaysian broadband provider
Kendall Court Capital Partners has exited Packet One Networks – a Malaysian broadband provider heavily involved in 4G telecommunications technology – as Telekom Malaysia (TM) bought a controlling stake in the company.
Matrix India backs online food-ordering platform LimeTray
Matrix Partners India has provided a Series A round of funding for Alchemy Web Private, operator of online food-ordering platform LimeTray. The size of the commitment was not disclosed.
China's CIC in $311m partial exit from Noble Group
China Investment Corporation (CIC) has made a partial exit from Singapore-listed agriculture and energy supply chain manager Noble Group, generating proceeds of S$396 milion ($310.6 million).
Gree Ventures backs Philippines payments business
Gree Ventures has participated in a Series C round of funding for Philippines-based digital payments business Ayannah. Wavemaker Labs, Golden Gate Ventures, IMJ Investment Partners and Beenos Asia also participated.
JD Capital reaches $200m final close on second US dollar fund
Chinese GP JD Capital, formerly known as Jiuding Capital, has achieved its target of a $200 million final close on its second US dollar-denominated fund.
Google, Lightspeed lead $38m round for China's InnoLight
Google Capital, the growth-stage venture arm of Google, and Lightspeed China Partners have co-led a $38 million Series C round of funding for InnoLight Technology, a Chinese manufacturer of cloud computing optical transceivers.
Jungle Ventures commits $1.6m to Thailand fashion site
Jungle Ventures has led a $1.6 million pre-Series A round for Pomelo, a Thailand-based online fashion retailer.
Affinity backs poultry producer in debut Malaysia deal
Affinity Equity Partners has secured its debut Malaysia investment after agreeing to buy a significant minority stake in poultry producer Leong Hup International in a deal that values the company at around $600 million excluding debt.
SCPE invests $90m in Vietnam agribusiness player
Standard Chartered Private Equity (SCPE) has completed its second Vietnam deal in the space of a month, paying $90 million for a significant minority stake in agribusiness player An Giang Plant Protection (AGPP).
AVCJ daily bulletin returns October 3
There will be no AVCJ bulletin on October 1-2 due to public holidays in Hong Kong marking China's National Day and the Chung Yeung Festival, respectively.
Japan's J-Star sees 8x return with first secondary exit
Japanese investor J-Star has exited Burn Holdings, a local repair business that primarily serves property developers, to Shinsei Corporate Investment and Creation Capital. The gross return multiple is said to be 8x.
Intel commits $1.5b to Tsinghua University-funded semiconductor business
Intel Corporation has agreed to invest up to RMB9 billion ($1.5 billion) for a 20% stake in Tsinghua Unigroup, owner of Chinese semiconductor makers Spreadtrum Communications and RDA Microelectronics.
Alibaba invests $458m in hotel IT software firm
Alibaba Group has bought a 15% stake in Beijing Shiji Information Technology, a Chinese hospitality information technology developer, for RMB2.81 billion ($458 million).
Australia's Treasury Wines ends PE buyout talks
Australia’s Treasury Wine Estates (TWE) has ended talks with two private equity suitors, TPG Capital and a consortium comprising KKR and Rhône Capital, after deciding the offer was too low.
Shunwei invests $10m in Chinese female social networking site
Shunwei Capital Partners has committed $10 million in Series B funding to 520guimi.com, a female-focused social networking site in China.