Official Record
Deal focus: New angle on logistics flourishes in China
China’s DST Car Rental has achieved a level of vertical integration unique among start-ups in electrified logistics. With the model proving itself at home, an overseas expansion awaits
Deal focus: NFT start-up declares war on the internet
Hong Kong’s Animoca Brands is at the forefront of securing digital property rights via cryptographic tokens. The concept is germinating in the games sector, but it is expected to change everything
Deal focus: L Catterton backs Social Bella to emulate Perfect Diary
Social Bella has risen to prominence in Indonesia as an omnichannel distributor for other beauty brands, but the start-ups is now developing some of its own. L Catterton is backing this diversification drive
Deal focus: The e-commerce agglomeration effect
Inspired by Thrasio buying up e-commerce brands in the US and using its resources to drive growth, Una Brands wants to do the same in Asia. The start-up has secured $40 million to kick-start this effort
Deal focus: Bibit lays claim to be Indonesia’s Robinhood
A couple of quickfire funding rounds for Bibit reflects global investor appetite for robo-advisory businesses and the Indonesian company’s rare double-headed product offering
Deal focus: Cityneon proves the show must go on
Singapore’s Cityneon has seen a robust rebound in its live events business, driven primarily by China. The company now has $177 million in new funding and deals covering everything from ancient Egypt to Avatar
Fund focus: Main Sequence differentiates by going deep
Australia’s Main Sequence Ventures, a government-established VC, has raised 100% of its second fund with outside capital. It credits much of the success to the high barriers of hard science
Deal focus: DCP, KKR milk new dairy opportunity
The private equity firms are backing Adopt A Cow’s combination of high-quality, high-transparency dairy products and its ability to reach young Chinese consumers through non-traditional channels
Deal focus: Xingyun’s trade flow proposition
Having built its business on imports into China, e-commerce enabler Xingyun now wants to take Chinese brands global as well. For HI Transformational Fund, it represents a compelling inflection point
Deal focus: Cattle herding enters the app age
New Zealand’s Halter is bringing innovation to an industry that hasn’t seen many new tools since the invention of barbed wire. Blackbird Ventures is offering its support
Deal focus: China big data player goes global
China’s Kyligence is plugging new technologies into an increasingly cloud-based and services-oriented enterprise software space. It has raised $70 million to pump up an international expansion
Vintage update: Australia 2010-2012
A selection of Australia-based assets that remain in the portfolios of Advent Partners, Anchorage Capital Partners, CHAMP Ventures, and Crescent Capital Partners
Fund focus: Lakeshore remains one of Thailand’s few
Thailand is hardly a hotbed of private equity activity in Asia, but Lakeshore Capital has demonstrated an ability to deploy and return capital. It now has a $150 million second fund to put to work
Deal focus: Loyal Valley realizes $600m from the Bilibili show
Chinese video-streaming platform Bilbili has won the hearts, minds, and wallets of users amid an intensifying content-based battle. Loyal Valley Capital picked an opportune time to make a partial exit
Deal focus: Plus pulls financial, strategic levers
China’s first autonomous driving truck will shortly enter mass production, courtesy of Plus and its array of private equity and automotive industry supporters
Deal focus: Centurium, Joy re-up in China's Luckin Coffee
Centurium Capital and Joy Capital have invested $250 million in scandal-hit Chinese coffee shop chain, with Centurium describing it as a sign of faith in the company’s business model and long-term prospects.
Deal focus: Gobi sees 100x return on Airwallex
Gobi Partners became Airwallex's first institutional investor in 2016 due to a lack of support in the Australian company's home market. The GP made a partial exit in a recent Series D round at a valuation of $2.6 billion
Fund focus: Long Hill burns the midnight oil
Embarking on its first Zoom-based fundraise, China's Long Hill Capital succeeding in closing just above target on $300 million while significantly diversifying the LP base
Deal focus: Partners Group-backed IT play ripens early
Partners Group is set to generate a 5x return on the sale of its 45% stake in GlobalLogic to Hitachi as momentum in corporate digital transformation makes the IT services player a hot commodity
Fund focus: Qingsong plays the long game
Qingsong Fund differs from most renminbi fund managers by virtue of its uncommon diversification and farsighted strategy. Data and deep tech will be key focus areas for the firm’s new $153 million fund
Deal focus: Rethinking Australia’s biggest resource
Adamantem Capital’s acquisition of carbon farming specialist Climate Friendly recognizes the increasing sophistication of the Australian carbon credit market as well as its room for improvement
Fund focus: CityU promotes entrepreneur enablement
City University of Hong Kong plans to invest $64 million in creating 300 start-ups over the next three years, offering students and staff a more structured route to commercializing academic research
Deal focus: Affinity to close JobKorea’s technology gap
When Affinity Equity Partners was drawing up plans for JobKorea, it found Seek’s product innovations in Australia a useful reference point. This gave context to a $795 million acquisition
Deal focus: IvyCap’s timely 22x windfall
With the launch of its third fund a few weeks away, IvyCap Ventures leveraged strong investor interest in beauty e-commerce player Purplle to secure one of India’s largest rupee VC exits