Expansion
India’s Byju’s raises $250m, ramps up overseas
Indian education technology provider Byju’s has raised USD 250m from existing investors with plans to expand its international business. Funding raised this year alone now tops USD 1bn.
AVCJ Awards 2022 - voting has closed
Voting for the 2022 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks for your participation.
Asia PE investment sees significant drop-off in third quarter
PE investment in Asia reached USD 36.8bn in the third quarter of 2022, its lowest level since activity seized up in the early stages of COVID-19, with notable declines in India and Southeast Asia.
Google backs India edtech player Adda247
Google has joined a INR 2.7bn (USD 35m) round for Adda247, an education technology start-up that claims to be India’s largest vernacular language exam preparation platform.
China's VectorBuilder raises $57m Series C
Guangzhou-based gene delivery company VectorBuilder has raised a CNY 410m (USD 57m) Series C round led by Legend Capital, Sui Kai Equity Investment, and Yuexiu Industrial Fund.
MO Alternates commits $28m to Indian footwear brand
Motilal Oswal Alternates (MO Alts), formerly Motilal Oswal Private Equity, has invested INR 2.2bn (USD 28m) in India’s Asian Footwears, which produces several shoe brands.
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
3Q analysis: Lean times
A flicker in India fails to disguise a miserable quarter for exits; a handful of fast fundraises snap Asia out of its slump; investment gravitates towards developed markets and manufacturing
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
Q&A: WeRide's Tony Han
Tony Han, founder and CEO of China’s WeRide, on commercialising fully autonomous passenger vehicles, surviving a capital winter, and why universities are vital to the hard-tech revolution
Vision Fund leads Series D for China dental 3D printing player
SprintRay, a China-based 3D printing company that specialises in orthodontics, has raised a USD 100m Series D round led by Softbank Vision Fund 2.
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.
Airwallex raises another $100m, valuation holds steady
Hong Kong-based Airwallex, a cross-border payments provider turned broader financial technology platform, has raised USD 100m in a second extension to its Series E round at a valuation of USD 5.5bn. It comes 11 months after the company secured the same...
Investors call on Japanese start-ups to pursue overseas capital - AVCJ Forum
Japanese start-ups must attract more institutional capital from overseas given the paucity of local investors, especially in the growth stages, the AVCJ Japan Forum heard.
Japan healthcare start-up Ubie closes $43m Series C
Japanese healthcare technology start-up Ubie has closed its Series C round on JPY6.3bn (USD 43.2m) with the latest tranche featuring PE-owned pharmacy chain operator Sogo Medical.
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.
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
Brookfield commits $500m to carbon recycling specialist LanzaTech
Brookfield Renewable, a business controlled by Brookfield Asset Management, has agreed to invest USD 500m in LanzaTech, a US carbon recycling specialist with a significant Asia presence.
Singapore's ShopBack secures $80m Series F extension
Temasek Holdings-controlled investor 65 Equity Partners has led a USD 80m equity investment in Singaporean retail platform ShopBack, extending a Series F round in June.
BlackRock leads $300m investment in Indonesia's Traveloka
BlackRock has led a USD 300m investment in Indonesia’s Traveloka via a credit fund as expectations mount for an IPO by the travel platform.
India's Molbio secures Temasek backing, becomes unicorn
India’s Molbio Diagnostics, a medical equipment maker best known for its COVID-19 testing systems, has raised a USD 85m round featuring Temasek Holdings at an enterprise valuation of USD 1.6bn.
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.
