News
IDG-Accel China in take-private bid for US-listed Memsic
IDG-Accel China has submitted a takeover bid for NASDAQ-listed Memsic that values the semiconductor manufacturer at $96.8 million. The prospective investor would like to work with Yang Zhao, Memsic’s founder and CEO, to formulate a definitive proposal...
CDIB Capital invests in US-based Smith-Cooper
CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has invested in Smith-Cooper International, a US-based manufacturer of pipe, valves and fittings. Blue Point Capital Partners also participated in the funding...
Secura launches second Shariah compliant VC fund
Secura Investment Management, part of the Hi LITE group, has launched its second India-focused Shariah compliant venture capital fund with a size of INR500 million ($9 million).
Composition launches VinaLand counter-proposal
Composition Capital Partners, which is leading a shareholder revolt against the board of VinaLand - a Vietnam real estate fund - over reorganization plans, has now launched a counter-proposal.
Everstone, ICICI invest $23.5m in Sohan Lal Commodity
Everstone Capital and ICICI Bank's Emerging India Fund (EIF) have jointly invested INR1.3 billion ($23.5 million) in Sohan Lal Commodity Management as part of a Series C round of funding. The two investors now own stakes of 25.55% and 6.93%, respectively.
VC-backed Happiest Minds targets IPO by 2019
Happiest Minds Technologies, an Indian cloud-based services provider backed by Canaan Partners and Intel Capital, is targeting an IPO by 2019.
VCs channel $25m into China’s Innovent Biologics
Innovent Biologics, a China-based manufacturer of monoclonal antibodies, has raised $25 million in Series B financing from Lilly Asia Ventures, the VC arm of global pharmaceutical company Eli Lilly, and existing investors Fidelity Biosciences and Fidelity...
Silver Lake-owned Allyes names new CEO
Silver Lake-owned Allyes, a Chinese digital marketing company, has appointed Hanhua Wang as CEO, effective December 1. He replaces Eric Chen, a managing director at Silver Lake, who had been serving as interim CEO. Chen remains chairman of the Allyes...
Malaysia’s Ekuinas wants Icon Offshore to list by 2014
Ekuinas, the Malaysia sovereign wealth fund, plans to list its oil and gas services unit, Icon Offshore, within three years. Abdul Rahman Ahmad, the Icon’s CEO, said the company was already eligible for an IPO but they want to wait until earnings justify...
NewQuest to invest $140m in India
Secondaries specialist NewQuest Capital Partners expects to invest about $140 million in India - almost one third of its $400 million NewQuest Asian Fund I.
Australia's PageUp People gets $10m from Accel-KKR
Accel-KKR, a Silicon Valley-based PE firm, has invested $10 million for an undisclosed stake in PageUp People, an Australian firm that provides software for tracking worker performance.
Bain-baked Gome records $110m loss for first nine months
Bain Capital-backed Gome Electrical Appliances has reported a loss of RMB686.7 million ($110 million) for the first three quarters of 2012.
Northstar set to complete Nera telecommunications take-private
Northstar Pacific Partners has agreed to buy a controlling 50.05% stake in Nera Telecommunications from power conversion specialist Eltek and is offering to buy the entire company for S$177.3 million ($145 million). This is the Indonesian GP's first...
Pension plans unsure about VC commitments
North American pension plans are exhibiting mixed feelings towards venture capital funds – some find GPs that were once refused to take meetings are now opening up to a wider range of investors while others are backing off from the asset class, blaming...
Australia’s Anacacia reaches $129m second close
Australian GP Anacacia Capital has arrived at a second close of A$125 million ($129 million) for its second fund. The private equity firm has already exceeded its target of A$100 million and is on course to reach its hard cap of A$150 million.
Last chance to vote in the AVCJ Indian Awards
Voting for the 2012 AVCJ Indian Private Equity & Venture Capital Awards closes today. The region’s private equity community has until 5 p.m. (Hong Kong time) to pay tribute to the leading fundraising, investments, exits, individuals and firms of the...
Australia’s PEP targets $3.6b for Fund IV
Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.
Ontario Teachers leads funding round for China’s 360Buy.com
Ontario Teachers' Pension Plan (OTPP) has led a $300 million round of funding for 360Buy.com, China’s second-largest business-to-consumer e-commerce website by revenue.
Billabong director explores buyout options
Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...
Carlyle, Seven Group plan Coates Hire sale
The Carlyle Group and Australia's Seven Group are planning to sell their stakes in Australian equipment rental company Coates Hire. The news comes after the pair failed to proceed with an A$800 million ($831 million) IPO of the company earlier this year.
Industry experts predict next 25 years of Asian PE - AVCJ Forum
The future of Asian private equity will see the rapid macro growth fuel the buy-out market while LPs demand more co-investment opportunities, said industry participants at the AVCJ Forum.
Squadron’s Prasanna joins Morgan Creek in Shanghai
Anand Prasanna, known to many in the industry as Anand RP, will join Morgan Creek Capital Management as a director in their Shanghai office. He left his previous position as an investment director at Squadron Capital, an Asia-focused fund-of-funds, two...
Cross-border deals complicate the 'regional fund vs country fund' debate - AVCJ Forum
As GPs become more efficient at cross-border deals and invest across wider areas, industry participants say the regional funds versus country funds debate is becoming less clear cut.
Slowdown in IPO exits is boon for trade sales - AVCJ Forum
Public market volatility has more or less cutting off IPO exits and investors don't expect a turnaround in the short term. However, PE firms that target control deals are excited by the prospects for trade sales.