News
China appoints Ding Xuedong chair of CIC
China has named Ding Xuedong, a deputy secretary general of the State Council and former vice finance minister, as head of China Investment Corporation (CIC).
Japanese software testing service in $4m VC round
Shift, a Japanese software testing service, has raised JPY400 million ($4 million) from VC investors Simplex Holdings and Movida Capital as well as strategic investor Bit-isle, a cloud data service provider.
DBJ, SMBC, Mitsubishi UFJ back Japan's Adinnovation
The Development Bank of Japan (DBJ) , SMBC Ventures and Mitsubishi UFJ Capital have together invested JPY160 million ($1.5 million) in marketing specialist Adinnovation.
Korea’s IMM Private Equity invests $87m in Hollys F&B
IMM Private Equity has agreed to pay KRW100 billion ($87 million) for a controlling position in Hollys F&B, the parent company of Hollys Coffee, one of South Korea’s largest coffee shop chains.
Baring-backed Nord Anglia returns to Asia high-yield market
Baring Private Equity Asia-owned Nord Anglia Education has once again tapped Asia’s high-yield market, raising $165 million through a bond issue. This is the third time Nord Anglia has raised debt financing in the last 18 months – and the first of...
Japan's Chiyoda acquires PE-backed energy consultancy
Chiyoda Corp, a Japanese engineering contractor, has acquired a majority stake in Scottish energy consultancy business Xodus Group from UK private equity backer Simmons Parallel Private and Dutch investor Sunrise Xodus. Financial details were not disclosed.
Nissay Capital invests $2m in display component maker Cerebrex
Nissay Capital has invested JPY250 million ($2.4 million) in Cerebrex, a semiconductor start-up that produces components for liquid crystal displays.
Piramal to buy 10% stake in TPG-backed Shriram Capital
Indian conglomerate Piramal will purchase a 10% stake in Shriram Capital, the holding company of Shriram Group's financial services business. TPG Capital owns an 11% stake in the company.
Qiming promotes Nisa Leung to managing partner
Qiming Venture Partners has promoted Nisa Leung, the head of its healthcare practice, to managing partner.
Tiger Global, Accel invest $7.5m in India’s CommonFloor
Tiger Global Management and Accel Partners have invested another $7.5 million in Indian real estate and apartment management portal Commonfloor.com.
Temasek’s portfolio expands to $169b with greater focus on energy
Temasek Holdings saw its portfolio grow to S$215 billion ($169 billion) for the year ended March 2013, up 8.6% from the preceding 12 months.
Asia PE fundraising slumps to $13b in first half of 2013
Asia private equity fundraising came to $13.8 billion in the first half of the year, down 40% on the second half of 2012, according to provisional data from AVCJ Research. This is the lowest six-monthly total since January-June 2009. PE investment reached...
PE consortium, strategics proceed in Optus bidding – report
A consortium comprising The Blackstone group, TPG Capital and Malaysia’s Measat Global has reportedly progressed to the final round of bidding for Optus Satellite, Singapore Telecommunications' (SingTel) Australian satellite unit. France's Eutelsat...
KDDI Fund participates in $2m round for Japanese game developer
KDDI Open Innovation Fund has joined CyberAgent Ventures and Japanese entertainment company FuRyu in committing a total JPY230 million ($2.2 million) to Japanese game developer Mutations Studio.
Actis exits Chinese kitchen equipment maker to US trade buyer
Actis has sold its stakes in Chinese commercial kitchen equipment maker Vesta to Illinois Tool Works (ITW), a US industrial equipment manufacturer. Terms of the transaction were not disclosed.
AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients...
Samsung Electronics buys VC-backed Boxee
Samsung Electronics has acquired Boxee, a VC-backed Israeli start-up that manufactures digital video recorders (DVRs). The financial details of the deal were not disclosed.
India’s ShopClues eyes $50m growth round
Online marketplace ShopClues.com is looking to raise a further $30-50 million from investors, after January’s $10 million round from Helion Venture Partners, Nexus Venture Partners and Japan’s Netprice, which is backed by CyberAgent and Dentsu.
Credit China, jeweler Chow Tai Fook form RQFLP fund
Hong Kong jeweler Chow Tai Fook has teamed up with financial services provider Credit China and private equity firm VMS Investment to form a closed-end Renminbi Qualified Foreign Limited Partnership (RQFLP) fund. The vehicle, named Chongqing Run Ke Equity...
CSRC to regulate Chinese PE, NDRC to promote it – State Council
China’s State Council appears to have resolved the regulatory spat over domestic private equity, designating the China Securities Regulatory Commission (CSRC) as the single agency responsible for the asset class. The National Development and Reform...
South Asian impact fundraising platform gets Series A round
Singapore’s Jungle Ventures has led a $1.1 million round of funding for Milaap Social Ventures, an impact-focused fundraising platform in South Asia. Lion Rock Capital and two angel investors also participated, as did existing investor Unitus Seed Fund.
India Value Fund invests $40m in spice firm VKL
India Value Fund Advisors (IVFA) has committed $40 million to Vallabhdas Kanji Limited (VKL), a seasonings and spices producer, based on expectations of growth in the quick service restaurants segment (QSR) and processed foods industry.
India's Robosoft Technologies gets $3m from Kalaari Capital
India-focused Kalaari Capital has invested INR220 million ($3.69 million) for a minority stake in mobile apps and games developer Robosoft Technologies. Kalaari Managing Director Kumar Shiralagi and Vice President Sumit Jain will join the Robosoft board.
NZ Super allocates $31m to Pioneer Capital
The New Zealand Superannuation Fund has committed NZ$40 million ($31 million) to the second fund of Auckland-based private equity firm Pioneer Capital Partners.