Industrials
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
Searchlight backs Singapore’s Synergy Marine Group
US-based Searchlight Capital Partners has taken a minority stake in Singapore’s Synergy Marine Group, a shipping fleet manager and maritime services provider, for an undisclosed sum.
Proterra backs Singapore biodiesel player
Specialist food and agriculture investor Proterra Investment Partners has agreed to invest in Aperion Bioenergy, a Singapore-based bioenergy producer that sources used cooking oil for feedstocks.
GIC leads Series C for India EV maker Euler
GIC has led a USD 60m Series C round for Euler Motors, an India-based manufacturer of commercial electric vehicles (EVs), at a valuation of USD 200m.
GP profile: ShawKwei & Partners
Helping Asian manufacturers climb the product value chain and lock in multinational customers is a key part of the ShawKwei & Partners thesis. It sees no reason to change, even amid sector volatility
China silicon supplier Lihao gets $305m Series B
Lihao Semiconductor, a China-based supplier of silicon materials used in solar panels, has raised CNY 2.2bn (USD 305m) in Series B funding from an investor group featuring Oceanpine Capital, V Fund, and Harvest Capital.
Petronas Ventures backs Malaysian drone player
Petronas Ventures, the VC arm of Malaysian oil giant Petronas, has led a USD 30m round for drone developer Aerodyne Group with support from domestic pension fund KWAP.
Polaris exits Japan LCD panel business
Polaris Capital Group has fully exited Aimechatec, a supplier of LCD panel manufacturing equipment it carved out from Hitachi in 2016 and took public last year, with proceeds of JPY 3.96bn (USD 27.6m).
Fund focus: Glenwood gains traction with carve-out thesis
Korea-focused Glenwood Private Equity has closed its second fund on KRW 900m (USD 648m) from local LPs, having established itself as a mid-market corporate divestment specialist
Deal focus: Anchorage exits rail player, launches Fund IV
Australia-based Anchorage Capital Partners has extended a string of exits with the sale of a local rail industry player, while going to market seeking AUD 500m (USD 339m) for its fourth fund
Korea: A good time to be different?
Macroeconomic uncertainty and liquidity risk are pushing Korean private equity firms to think beyond buyouts, double down on operational capabilities, and consider all their exit options
East leads $26m Series A for Indonesia agtech start-up
East Ventures has led a USD 26m Series A round for Indonesia’s Gokomodo, an agriculture technology provider focused on simplifying fragmented and inefficient supply chains.
China circuit board maker JLC raises $129m
Chinese circuit board manufacturing company Jialichuang (JLC) has raised CNY 900m (USD 129m) from State Development & Investment Corporation (SDIC), Eastern Bell Capital and Jianfa Xinxing Investment.
Anchorage exits Australia rail operator
Australia’s Anchorage Capital Partners has sold local rail operator Rail First Asset Management for AUD 425m (USD 290m) to Dutch GP DIF Capital Partners and Amber Infrastructure of the UK.
Navis exits Singapore's Adampak after 10-year hold
Navis Capital Partners has sold 100% of Singapore-based Adampak, a diversified manufacturer specialising in labels and barcode stickers, to Oji Imaging Media, a leading Japanese paper company.
Orchestra Private Equity buys Japan scaffolding business
Orchestra Private Equity, which specialises in cross-border transactions involving Korea, Japan, and China, has acquired Japan-based scaffolding provider Stack for an undisclosed sum.
Japan’s D Capital nears target for debut PE fund
Japan’s D Capital, a private equity firm specialising in digital transformation that spun out from Unison Capital last year, has raised JPY 26bn (USD 188m) for its debut fund against a target of JPY 30bn.
Japan carve-outs: Improving the old
Private equity investors are keen to acquire mature but unloved assets from Japanese corporates and reposition them for growth. Execution is seldom straightforward, and size often means complexity
Qiming leads Series C for China 3D dental printing start-up
Prismlab, a China-based 3D printing company specialising in dental applications, has raised CNY 200m (USD 29m) in Series C funding led by Qiming Venture Partners.
Bain agrees $3b carve-out from Japan's Olympus
Bain Capital has agreed to acquire Evident, a Japan-based medical devices manufacturer best known for producing microscopes, from Olympus Corporation for JPY 427.7bn (USD 3.08bn).
Dymon Asia carves out shipping industry supplier
Dymon Asia Private Equity has agreed a carve-out of Singapore-based shipping industry equipment supplier RAM Spreaders from its German parent Salzgitter Maschinenbau for an undisclosed sum.
China’s Whale Capital achieves first close on food fund
Chinese consumer-focused VC firm Whale Capital has reached a first close of undisclosed size on its latest renminbi-denominated fund, which will specialise in the food industry. The target is CNY 500m (USD 73m).
Keppel buys Singapore waste management player 800 Super
Keppel Corporation has purchased a majority interest in Singapore waste management services business 800 Super Holdings, which was delisted in 2019 through a KKR-backed take-private, at a valuation of SGD 380m (USD 273m).
Blackstone part-exits Indian auto components maker
The Blackstone Group has realised proceeds of INR 40.4bn (USD 506m) through a partial exit from Sona Comstar, an India-listed manufacturer of automotive systems and components that trades as Sona BLW Precision Forgings.
