News
Bain raises $2b for Asia special situations fund
Bain Capital has closed its second Asia special situations fund with more than USD 2bn in commitments. The firm described it as the largest vehicle in the region dedicated to the likes of direct lending, mezzanine debt, and distressed asset opportunities.
DCP hits $2.5b first close on second China fund
DCP Capital has already completed five investments from its second China fund, having completed a first close of USD 2.5bn in January.
LPs warm up to crypto strategies – survey
Two in five LPs regard crypto-enabling businesses as a legitimate investment target, according to Coller Capital’s latest private equity barometer survey, underlining the sector’s emergence as a mainstream target for PE and VC.
China machine vision company AlpsenTek raises $30m
Chinese machine vision developer AlpsenTek has raised a CNY 200m (USD 30m) Series A round led by Xunxing Investment, an arm of mobile brand Oppo, and Cowin Capital.
Japan's Luca Science secures $30m Series B
Luca Science, a Japanese biotech start-up focused on dysfunctional and damaged tissues and organs, has raised a USD 30.3m Series B round led by life sciences specialists 4BIO Capital and DCI Partners.
India's Anicut Capital hits first close on VC fund
Indian early-stage investor Anicut Capital has achieved a first close of INR 1.1bn (USD 14.2m) on its latest VC fund, which is targeting INR 5bn. It coincides with the nomination of a new partner.
China autonomous driving player Minieye raises $120m
Chinese autonomous driving solutions provider Minieye has raised CNY 800m (USD 120m) in Series D funding across three tranches. The third tranche was led by Cathay Capital.
Malaysia's IHH Healthcare sells education arm to Rise Fund
A consortium led by The Rise Fund, TPG’s global impact investment platform, has agreed to acquire the medical education arm of Malaysia-headquartered IHH Healthcare for MYR 1.35bn (USD 306m).
Cathay achieves $241m first close on renminbi fund
Cathay Capital Private Equity has reached a first close of CNY 1.6bn (USD 241m) on its second renminbi-denominated growth fund.
Australia's Go1 raises $100m at $2b valuation
Australia-based workforce training platform Go1 has raised a USD 100m growth round featuring AirTree Ventures and SoftBank Vision Fund 2 at a valuation of USD 2bn.
Vision Fund, GGV back China blockchain infrastructure player
China-based blockchain infrastructure developer InfStones has received USD 66m in funding led by SoftBank Vision Fund 2 and GGV Capital. Ince Capital, 10T Fund, SNZ Holding, and A&T Capital also participated.
Temasek launches decarbonisation investment platform
Singapore’s Temasek Holdings has committed an initial SGD 5bn to a newly launched platform designed to make investments that accelerate decarbonisation globally.
Hong Kong's Saltagen targets $120m for biotech fund
Saltagen Ventures, a Hong Kong-based venture capital firm led by Canada’s trade representative to the Asia Pacific Economic Cooperation (APEC) forum, is looking to raise USD 120m for a global biotech fund.
Indonesia crypto player Pintu gets $113m Series B
Indonesia crypto wallet and trading platform Pintu has raised a USD 113m Series B round from Intudo Ventures, Lightspeed Venture Partners, Northstar Group, and sector specialist Pantera Capital.
Indonesia social commerce player Super raises $70m
NEA has led a USD 70m Series C round for Super, an Indonesia-based social commerce platform that targets the country’s lower-tier cities and rural areas.
Alpha Wave leads $57m round for India's Cuemath
Alpha Wave Global, formerly Falcon Edge Capital, has led a USD 57m investment in Indian one-on-one online math tutoring platform Cuemath.
India's Gupshup acquires VC-backed OneDirect
India-based B2C messaging services provider Gupshup has acquired OneDirect, a local customer service platform that previously received several rounds of funding from Sequoia Capital India.
Sequoia leads Series A extension for China's ProfoundBio
Sequoia Capital China has led a USD 70m extended Series A round for ProfoundBio, a Chinese drug developer with two cancer treatments entering phase-one clinical trials.
Boyu, Confitop lead pre-IPO round for China pet food player
Shandong Seek Pet Products, a China-based pet food manufacturer, has raised nearly CNY 500m (USD 75m) in pre-IPO funding led by Boyu Capital and Confitop Capital.
Affirma targets Korea private debt, secondaries
Affirma Capital is expanding its Korean coverage with the launch of dedicated private debt and secondaries businesses following a relaxation in local regulations.
Elevar leads $32m round for India start-up credit provider
Indian impact investor Elevar Equity has led a INR 2.5bn (USD 32.2m) round for StrideOne, a start-up credit platform launched last year by the managing partners of local venture debt firm Stride Ventures.
Indonesia grocery delivery player Astro raises $60m
Indonesia-based on-demand grocery delivery platform Astro has secured USD 60m in Series B funding led by Accel Partners, Citius, and Tiger Global Management.
Creador, InvAscent invest $68m in India medical supplier
Malaysia-based Creador and Indian healthcare specialist InvAscent have invested a combined USD 68m in Indian medical equipment supplier Accumax Lab Devices.
AVCJ daily bulletin returns June 6
AVCJ’s daily bulletin will not be published on June 3 due to a public holiday in Hong Kong.