News
Singapore's Azalea launches sustainability fund-of-funds
Temasek Holdings-owned Azalea Investment Management has launched its first sustainability fund-of-funds, which will target opportunities that deliver positive environmental and social outcomes alongside private equity-style financial returns.
Investment becomes Tencent's main profit driver in 2021
Investment accounted for the bulk of Tencent Holdings' annual profit for the first time in 2021 as the Chinese technology giant saw earnings from its core business contract in the second half of the year.
Philippines MSME service provider secures $77m Series C
GrowSari, a Philippines-based start-up that helps micro, small, and medium-sized enterprises (MSMEs) take retail operations online, has seen its Series C swell to USD 77.5m with the addition of the International Finance Corporation (IFC) and Temasek Holdings-owned...
China's JD Property closes $800m Series B
Warburg Pincus and Hillhouse Investment have re-upped in JD Property, the infrastructure property asset management arm of Chinese e-commerce giant JD.com, as part of a USD 800m Series B round.
Australia's Carthona hits $75m first close on VC fund
Australia-based VC firm Carthona Capital has reached a first close of AUD 100m (USD 75m) – against a target of AUD 200m – on its fourth fund, which will add Web3 to its existing focus areas.
Quadrant secures $217m Australia IT services exit after two-year hold
Quadrant Private Equity has sold Australian IT enterprise services business Arq Group to NCS Group, a SingTel Group-owned IT and communications engineering player, for AUD 290m (USD 217m).
IIFL Private Equity targets $524m for latest India pre-IPO fund
IIFL Private Equity is seeking up to INR 40bn (USD 524m) in commitments for its latest India pre-IPO fund as part of a broad fundraising push intended to secure INR 70bn to INR 80bn across multiple strategies over the next 12 months.
India cricket metaverse start-up raises $100m
Insight Partners has led USD 100m Series A round for FanCraze, an Indian digital assets start-up that earlier this year launched a range of cricket-themed non-fungible tokens (NFTs).
Diageo divests Korean whisky brand to local PE consortium
Global beverage giant Diageo has agreed to sell Windsor, Korea’s best-selling whisky brand, to Bayside Private Equity and Metis Private Equity for KRW 200bn (USD 163.2m).
PAG files for Hong Kong IPO
PAG, which has seen its assets under management (AUM) across private equity, credit, and real assets grow 6x to more than USD 50bn in the past decade, has become the first large-cap Asian manager to file for an IPO.
Goldman leads $900m stapled secondary for Baring Asia
Baring Private Equity Asia (BPEA) has completed a stapled secondary of nearly USD 900m, which saw an investor consortium commit capital to its eighth fund and take out positions in two earlier vehicles.
CBC strikes China's first royalty-based biomedicine deal
R-Bridge Fund, a credit vehicle established by healthcare-focused private equity firm CBC Group, has completed what it claims is the first royalty-backed investment in China’s biomedicine space.
Liverpool Partners buys Australian fertility business
Australian healthcare player Healius has agreed to divest another asset to private equity, with the sale of its fertility business to Liverpool Partners for AUD 30.5m (USD 23m).
A91 leads $35m Series C for India beauty brand
A91 Partners has led a USD 35m Series C round for Plum, an India-based direct-to-consumer (D2C) personal care brand. Existing investors Unilever Ventures and Faering Capital also participated.
Inflection Point seeks $50m for India early-stage fund
India’s Inflection Point Ventures, an early-stage investment platform with about 2,000 angel members, has launched a fund with an initial target of USD 50m.
China enterprise AR specialist Rokid raises $160m
Rokid, a China-based company specialising in augmented reality (AR) technology applications, has raised USD 160m in Series C funding across two tranches.
India's Ofbusiness secures $200m round for lending unit
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised USD 200m in Series A funding for its lending unit.
India's EverSource acquires local EV fleet operator
India’s EverSource Capital has acquired a majority stake in Lithium Urban Technologies, a local electric vehicle (EV) fleet and charging infrastructure operator, for an undisclosed sum.
Australia's IFM hits first close on long-hold fund
Australia’s IFM Investors has reached a first close of AUD 450m (USD 337m) on a long-term private capital (LTPC) fund designed to hold assets for 10 years or more. The overall target is around AUD 1bn.
China AI start-up Aibee joins unicorn club
China-based artificial intelligence start-up Aibee has achieved a valuation of more than USD 1bn on closing a new funding round led by smartphone brand Xiaomi and featuring China Merchants Capital.
EQT buys China pest control business
EQT Private Equity Asia has acquired majority stake in Guardian Hygiene Service, China’s largest domestic pest control company, for an undisclosed sum. It facilitates a full exit for Jade Invest.
Temasek's Seatown targets mass affluent with latest fund
Seatown Holdings International, an affiliate of Singapore’s Temasek Holdings, will welcome commitments as small as USD 100,000 from mass affluent investors in its latest fund.
Primavera SPAC to merge with Fosun-owned fashion platform
A special purpose acquisition company (SPAC) with ties to China-based private equity firm Primavera Capital Group has agreed to merge with global luxury fashion platform Lanvin Group at a pro forma enterprise valuation of USD 1.5bn.
India's Reliance buys VC-backed Clovia
Clovia, an India-based lingerie and sleepwear retailer backed by several VC investors, has been acquired by Reliance Retail Ventures (RRVL) at an approximate valuation of USD 140m.