Official Record
Deal focus: L Catterton hitches a ride with Tenways
Electric bicycle brand Tenways has built its business on European design capabilities and Asian manufacturing smarts. L Catterton is backing the two-year-old company to become a global leader
Deal focus: VIG secures rare airline turnaround opportunity
VIG Partners stepped into the breach when Eastar Jet’s previous white knight bailed. It agreed to recapitalise the airline on obtaining assurances that key licenses and routes remain in place
Deal focus: Anchorage gets Aussie icon for a song
Anchorage Capital Partners has acquired David Jones, a longstanding and beloved Australian department store chain, for one-fourth the cost of recent renovation work at a single location
Deal focus: TR leads $150m multi-asset secondary for India's Samara
TR Capital first worked with Samara Capital on a single-asset continuation fund for Sapphire Foods India – and saw the local Yum Brands franchisor go public about three months after the deal was announced. It has now reunited with Samara for what amounts...
To pastures new: Asia PE people moves
A selection of the transfers, promotions, arrivals, and departures in the private equity community in 2022
Fund focus: Southeast Asia piques Silicon Valley interest
Singapore’s Iterative is dazzling its entrepreneurial friends in the US with tales of seed-stage success in Southeast Asia and channelling that interest into a sophomore fund
Deal focus: Prosperity7 widens mandate with Australia’s Vow
Prosperity7 Ventures has well and truly escaped its energy sector roots, leading a hefty early-stage round for Australia’s Vow, a company making cell-cultured meat with a twist
Deal focus: Ruiyun heats up China’s cold chain industry
Ruiyun Cold Chain will use its pre-Series A funding to continue industry consolidation efforts, build out full-truckload and less-than-truckload services, and develop a tech platform that does more than matchmake
Deal focus: LionRock finishes polishing Clarks
LionRock Capital is exiting Clarks to its majority partner, Li Ning-owned and Hong Kong-listed Viva China, having helped the struggling British shoe brand survive the pandemic
Deal focus: IFM secures debut long-term capital deal
Targeting PRP Diagnostic Imaging through its long-hold fund meant IFM Investors could offer the company stability and partnership. It expects to generate dividend yield and capital growth
Fund focus: Panacea defies biotech downturn
Having raised its second fund amid weakening investor sentiment for biotech, Panacea Venture expects deployment to be guided by a widening valuation gap between the US and China
Deal focus: KKR agrees first Australia growth tech deal
KKR has led a USD 68m Series B round for Australia’s Advanced Navigation, an autonomous systems developer for robots and vehicles used everywhere from the freeway to orbit
Deal focus: Reap looks beyond Hong Kong
Having proved its business model and build up a customer base in Hong Kong, small business credit specialist Reap will use part of its USD 40m Series A round to pursue international expansion
Deal focus: NSSK builds out drugstore empire
NSSK found a rare succession-driven special situations deal in Japan’s prosperous healthcare space with pharmacy operator Kraft. It is the eight-year-old private equity firm’s largest deal to date
Fund focus: BPEA Credit spins out, closes Fund III on $475m
Baring Private Equity Asia's credit unit has entered a new phase as an independent manager with a fund more than three times larger than the previous vintage
Deal focus: Elevation makes Korea healthcare debut
Adverse fundraising conditions didn’t deter deal-by-deal player Elevation Private Equity from investing in Korea healthcare turnaround, and by extension, aligning with a key domestic partner
Deal focus: Gamurs gears up for M&A boom
Gamurs claims to have carved a niche as the largest gaming news publisher in the English-speaking world on the back of 39 acquisitions in seven years. Its Series A will go towards more purchases
Fund focus: Local LPs lift Fireside to new heights
India’s Fireside Ventures has soaked up rising domestic investor appetite for start-ups with an outsized third vintage, claiming that its consumer brands thesis is beginning to bear fruit
Deal focus: Fortitude rings in 9x return on Shopper
Shopping mall-focused digital advertising business Shopper Media Group rode out Australia’s lockdown woes to seal a sale to Woolworths, with Fortitude Investment Partners getting a 9x return
Deal focus: Well-Link aims to make gaming even more real
China’s Well-Link Technologies raised a Series B extension to support long-term investment and blue sky thinking around the role of real-time cloud rendering in gaming and metaverse applications
Deal focus: Food app targets Thailand’s first internet IPO
Thai restaurant delivery app Line Man Wongnai has leveraged the massive messaging service penetration of its parent company to position itself for what is hoped to be a breakthrough IPO
Fund focus: Dymon Asia completes quickfire fundraise
Careful – and protracted – cultivation of prospective LPs and relatively strong performance for Southeast Asia helped Dymon Asia Private Equity secure USD 650m for its third fund
Deal focus: Euler finds favour with India-oriented EVs
Euler Motors is one of several India-based electric vehicle manufacturers attracting significant private capital, but the company believes its customised offering for commercial users is truly differentiated
Deal focus: GPs pile into US-India tech corridor
US and India-based Accion Labs continues to collect private equity backers as it further globalises its IT services offering. Incoming investors don’t want to shake up the winning formula