News
China cross-border fintech start-up secures $20m
Dowsure, a Shenzhen-based financial technology start-up that has developed credit-checking software that enables banks to lend to small-scale e-commerce vendors, has secured USD 20m in Series B funding.
India banking start-up Niyo raises $100m Series C
Accel Partners and Lightrock India have led a USD 100m Series C round for India’s Niyo, which offers digital savings accounts and other banking services in partnership with traditional banks.
Investcorp seeks $400m for India private equity fund
Investcorp is targeting USD 400m for its third India private equity fund as part of efforts to quadruple its assets under management (AUM) in the country to USD 2bn within six years.
ZWC, IDG back China social CRM service provider
Wshoto – a Chinese social customer relationship management (SCRM) service provider that focuses on the WeChat ecosystem - has raised a CNY 300m (USD 47m) Series B round across two tranches.
Korea's Biorchestra gets $45m Series C
Biorchestra, a Korea-based drug developer specialising in RNA therapeutics for neurodegenerative diseases, has closed a Series C funding round of KRW 54bn (USD 45m).
A91, Z3Partners lead Series B for India's Shipsy
A91 Partners and Z3 Partners have led a USD 25m Series B round for India-based Shipsy, an artificial intelligence (AI) platform that helps companies automate logistics.
India's IvyCap secures foreign LP backing for Fund III first close
India’s IvyCap Ventures is progressing on efforts to diversify its LP base, with 15% of the first close commitments in Fund III coming from international investors, while many of its domestic institutional backers re-upped.
Ex-Hostplus PE head launches state-level early-stage fund
V-Ignite, an investment firm established by the former PE and VC head at Australian superannuation fund Hostplus, is looking to raise AUD 120m (USD 86m) for a fund-of-funds that will support managers in the state of Victoria.
Apis doubles down on Asia rewards, incentives space
Apis Partners has backed India-based rewards and incentives start-up Xoxoday through a USD 30m joint investment with Giift, one of its portfolio companies.
India's MediBuddy gets $125m Series C
Quadria Capital and Lightrock India have led a USD 125m Series C round for Indian healthcare platform MediBuddy.
Mubadala leads $500m round for Princeton Digital
Abu Dhabi’s Mubadala Investment has contributed USD 350m to a USD 500m equity round for Singapore-based data centre developer Princeton Digital Group (PDG).
Warburg Pincus commits $210m to India medical devices business
Warburg Pincus has acquired a minority interest in Micro Life Sciences, the parent company of India-headquartered medical devices manufacturer Meril, for approximately USD 210m.
Singapore crypto player Amber hits $3b valuation
Singapore-headquartered crypto financial service provider Amber Group has raised USD 200m in an extended Series B round led by Temasek Holdings, achieving a valuation of USD 3bn.
PEP targets $742m for second Australia secure assets fund
Australia’s Pacific Equity Partners (PEP) is preparing to launch its second secured assets with an AUD 1bn (USD 724m) target while planning to spin out one of the top-performing Fund I investments into a single-asset continuation vehicle.
CLSA launches $500m China growth fund
CLSA Capital Partners (CLSA CP) has launched a China growth fund focused on healthcare, smart manufacturing, renewable energy, tech-enabled media. The target is USD 500m.
Ex-OTPP Asia head named CalPERS CIO
Nicole Musicco, a former Asia Pacific head of Ontario Teachers’ Pension Plan (OTPP), has been appointed CIO of California Public Employees’ Retirement System (CalPERS).
Huaxing Growth hits $800m second close on China fund
Huaxing Growth Capital, the private equity division of China Renaissance, has achieved a USD 800m second close on its fourth flagship US dollar-denominated fund.
IFM's decarbonisation credentials attract Australian LPs
Australia’s Clean Energy Finance Corporation (CEFC) has committed AUD 80m (USD 57.5m) to IFM Investors’ mid-market growth fund, which achieved a second close of AUD 380m at the end of 2021.
L Catterton backs China pet food brand
L Catterton, a private equity firm specialising in consumer sector investments, has committed an undisclosed sum to Shanghai Enova Pet Products, owner of Chinese premium pet food brand Pure & Natural.
Navis poised for 6x return on TES-Envirocorp
Navis Capital Partners is set to generate a 6x return on its investment in Singapore-based TES-Enivrocorp, following an agreement to sell the environmental services provider to Korea’s SK Ecoplant at a valuation of USD 1bn.
China’s Fenbeitong raises $140m
Chinese enterprise payment and expense management software provider Fenbeitong has raised USD 140m at a valuation of at least USD 1bn in an extended Series C round led by DST Global.
Hong Kong game developer 6Waves bought by European strategic
6Waves, a Hong Kong-based mobile game developer that previously received funding from Insight Partners, has been acquired by Swedish gaming studio Stillfront Group for USD 201m, comprising cash and shares.
ADIA leads $210m Series E for India's DealShare
Abu Dhabi Investment Authority (ADIA) has contributed USD 45m to a USD 210m Series E round for Indian social e-commerce start-up DealShare at a valuation of USD 1.7bn.
Blue Owl recruits Pak-Seng Lai from UBS
Blue Owl Capital, a US alternatives manager expanding its Hong Kong operations, has hired Pak-Seng Lai, a managing director at UBS, to head its Asia Pacific private wealth business.