News
Korean GP backs $1.5b buyout of US-listed Meridian Bioscience
SJL Partners, a Korea-based private equity firm that specialises in cross-border transactions, has teamed up with domestic in vitro diagnostics business SD Biosensor to acquire US-listed peer Meridian Bioscience for USD 1.53bn.
India fintech player Cred closes $140m Series F
Cred, an India-based credit card rewards provider, has closed a USD 140m Series F round that includes a secondary component intended to facilitate exits for existing investors.
Korea's Kakao considers partial divestment of mobility spin-out
South Korean internet giant Kakao has indicated it may sell around 10% of Kakao Mobility, its transportation division, which has several private equity backers.
Quadrant exits Australia underwear brand to Swedish strategic
Quadrant Private Equity has exited Australian hygiene apparel brand Modibodi to Swedish strategic Essity for AUD 140m (USD 96m).
Accel-KKR targets Australia-listed SaaS player Damstra
Damstra Technology, a listed Australian software-as-a-service (SaaS) provider specialising in worker safety and risk management, has received an unsolicited buyout proposal from Accel-KKR.
Navis exits Hong Kong's Texon to global strategic
Navis Capital Partners has exited its entire controlling position in Hong Kong footwear components supplier Texon to UK-listed Coats Group for an enterprise value of USD 237m.
Government funds support China's Dark Matter AI
Dmai, a Chinese cognitive artificial intelligence (AI) platform also known as Dark Matter AI, has raised RMB 500m (USD 75m) in the first tranche of a Series B round from five state-backed investors.
Blackstone backs Australia, US clean commodities platform
The Blackstone Group has led a USD 400m investment in Xpansiv, an Australia and US-based marketplace for trading clean commodities such as carbon offsets, renewable energy credits (RECs), and low-carbon fuels.
Australian start-up wins backing for spider venom drug
Infensa Bioscience, a newly established Brisbane-based drug developer, has raised AUD 23m (USD 15.6m) in funding to support the licensing of a nascent treatment that uses spider venom to mitigate heart attacks and strokes.
Asia's Emerald Hill makes top 10 in global fund-of-funds ranking
Emerald Hill Capital Partners, which closed its last fund in 2014 and decided against raising a successor vehicle several years ago, is the sole Asian representative in the top 10 of a global fund-of-funds performance ranking compiled by business school...
Legend leads $150m Series E for China CRO ClinChoice
US and China-based clinical contract research organization (CRO) company ClinChoice has raised a USD 150m Series E round led by Legend Capital.
Singapore blockchain player Rubix raises $100m
Singapore-based crypto transaction infrastructure provider Rubix has raised USD 100m from US-based LDA Capital to transition into a more web3-oriented and “green blockchain” model.
PAG launches Asia renewables platform
PAG plans to commit more than USD 1bn to renewables over the next several years with the launch of a platform dedicated to the development, construction, and operation of projects in Asia.
Sequoia raises $8.8b for China funds
Sequoia Capital has hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn for deployment in seed through late-growth rounds.
China IC software player raises $81m
Semi-Tech, a China-based semiconductor manufacturing software provider, has raised CNY 540m (USD 81m) across two rounds - the second extended tranche of a Series A and a Series B.
Sequoia, Dayone back China solid state battery developer
China-based Enpower Greentech, which claims to be a pioneer in next-generation all-solid-state batteries (ASSBs), has raised more than USD 20m in an extended Series A round led by Sequoia Capital China and Dayone Capital.
BII names new India head
British International Investment (BII), a UK development finance institution formerly known as CDC Group, has named 20-year private equity veteran Manav Bansal as its head of India.
India start-up financier GetVantage raises $36m
GetVantage, a provider of revenue-based financing to Indian start-ups, has secured USD 36m in funding led by Varanium Nexgen Fintech Fund, DMI Sparkle Fund, Chiratae Ventures, and Dream Incubator Japan.
Arpwood leads acquisition of India's Sterling Hospitals
Indian private equity firm Arpwood Capital has led the acquisition of Sterling Addlife India, operator of the Sterling Hospitals chain, for an undisclosed sum.
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
Joy sets modest target for China VC fund - update
Beijing-based Joy Capital has set a lower target for its latest US dollar-denominated fund than in the previous vintage and decided against raising a second accompanying growth vehicle.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
India affordable housing player raises $112m
Indian lower-income mortgage lender Shubham has raised USD 112m led by British International Investment (BII). It facilitates exits for Elevar Equity and Motilal Oswal Private Equity (MOPE).
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.