News
Temasek commits $100m in China 21Vianet
Temasek Holdings has invested $100 million in 21Vianet Group, a US-listed Chinese carrier-neutral internet data center services provider, for about a 10% stake.
IDG, CreditEase to launch financial innovation fund
IDG Capital Partners and CreditEase, a Chinese peer-to-peer (P2P) microcredit lender, have set up a financial innovation fund, targeting a first close of $100 million. The vehicle - IDG CreditEase Financial Innovation Fund – will support online financial...
500 Startups raises $44.1m second fund
Silicon Valley-based incubator 500 Startups has held a final close of $44.1 million second fund that will back seed and accelerator companies. The vehicle – 500 Startup Fund II - is larger than its predecessor but below the $50 million target.
Yamaguchi bank launches $30.7m SME restoration fund
Yamaguchi Capital and the Regional Economy Vitalization Corporation of Japan have together set up a JPY3 billion ($30.7m) fund - Yamaguchi Business Restoration Fund - to provide capital to distressed small- and medium-sized businesses (SME).
Japan's Integral backs TBI Group
Japanese private equity firm Integral Corp. has acquired part of TBI Group, a restaurant chain operator with 78 outlets, as part of a management buyout. The financial terms of the deal were not disclosed.
Northstar Group seeks to raise $1b Southeast Asia fund
Northstar Group, the Singapore-based private equity firm backed by TPG Capital, is looking to raise around $1 billion for its fourth fund, which will focus on Southeast Asia.
Investors see bifurcation in Asia real assets exposure - AVCJ Forum
Investor appetite for real assets in Asia is strong, but infrastructure and real estate players speaking at the AVCJ Real Assets forum in Singapore noted that the nature of demand – between real estate and infrastructure and also between different entry...
VC-backed Chinese online marketplace targets $150m US IPO
Chinese venture capital-backed local marketplace website 58.com filed for its US IPO, targeting up to $150 million.
Axa spins off private equity unit
Axa Private Equity - now renamed Ardian - has completed its spin-out from the Axa Group in deal which values the unit at EUR510 million ($690 million).
Baidu, VC-backed travel website Qunar files for $125m IPO
Qunar, a Chinese travel website majority-owned by internet search giant Baidu, is looking to raise up to $125 million through an IPO in the US. GSR Ventures and GGV Capital still hold minority positions in the company but it is unclear whether they plan...
ICG adds Nyree Hu to Asia team
Specialist asset manager Intermediate Capital Group (ICG) has hired Nyree Hu as Asia director with its 11-strong global distribution team.
CDC hires UTI Capital's Murugappan for Asia funds team
CDC, the UK development finance institution, has hired Alagappan Murugappan as managing director with its Asia funds team. Murugappan was previously CEO with private equity firm UTI Capital.
KKR buys 10% stake in China home appliance maker for $552m
KKR has acquired a 10% stake in Qingdao Haier (QH), a Chinese home appliance maker, for RMB3.38 billion ($552 million) - its biggest investment in China to date.
CITIC Goldstone to end US dollar fund, continue RMB fund
Goldstone Investment, the direct investment arm of China’s CITIC Securities, is likely to discontinue its US dollar-denominated fund but the firm will remain active on the renminbi side.
Hony among first batch of companies to set up in Shanghai free trade zone
Hony Capital was among the first batch of companies to be awarded licenses to operate in Shanghai's new free trade zone, which is being touted as a new test bed for economic reform.
KKR acquires Panasonic healthcare unit for $1.67b
KKR has agreed to acquire an 80% stake in Panasonic Healthcare, a unit of the Japanese electronics giant, for JPY165 billion ($1.67 billion) - the buyout firm's biggest deal in the country to date.
Malaysia’s Khazanah invests in Beijing Enterprises Water Group
Mount Reskit Investments, a wholly-owned unit owned by Malaysian sovereign fund Khazanah Nasional, plans to invest HK$1.18 billion ($152 million) in Beijing Enterprises Water Group. Upon completion, it will hold a 4.95% stake in the state-owned water...
Australia’s Wolseley exits magazine publisher to trade buyer
Wolseley Private Equity has completed its second exit in a month with the sale of Australian magazine publisher nextmedia to Forum Media Group.
AVCJ daily bulletin returns October 3
There will be no AVCJ bulletin on October 1 due to a public holiday in Hong Kong marking China's National Day.
KPCB, IPV back Singapore stock market app Series A round
Kleiner Perkins Caufield Byers (KPCB) and IPV Capital have together led a $10 million Series A round for MyHero, the Singapore-based start-up behind the stock market simulation app TradeHero.
India eases offshore listing rules
Indian companies will be allowed to pursue IPOs overseas without first listing domestically in a move that should please private equity and venture capital investors looking for alternative exit routes. The broader policy objective is to shore up capital...
Japanese government panel suggests pensions shift to alternatives
A Japanese government-appointed advisory panel has suggested that the country's JPY160 trillion ($1.6 trillion) public pension system - which includes the JPY120 trillion Government Pension Investment Fund (GPIF) - reallocate a portion of its holdings...
VC-backed Montage raises $71m in US IPO, closes up on first day trading
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, saw its stock jump 28% to close at $12.80 on its first day of trading on NASDAQ. It is the second PE-invested Chinese company to go public...
WL Ross settles with SEBI over SpiceJet case
WL Ross has paid INR11 million ($177,000) in a settlement with the Securities and Exchange Board of India (SEBI), ending a long-running case over its investment in low-cost Indian airline SpiceJet.