Investments
Co-Stone leads $43m round for China biosynthesis player
Co-Stone Capital Management has led a CNY 300m (USD 43m) Series B round for Readline, a Shenzhen-based company that specialises in synthetic biology.
TPG buys India's Poonawalla Housing Finance
TPG Capital Asia has agreed to acquire Poonawalla Housing Finance for a pre-money equity valuation of INR 39bn (USD 473m) and inject an additional INR 10bn to support growth.
China solar cell manufacturer raises $72m
Temasek Holdings, Sequoia Capital China, and IDG Capital have led a CNY500m (USD 72m) Series B investment in Chinese solar cell manufacturer GCL Photoelectric Materials.
2023 preview: Hard-tech
As China’s technology space has shifted toward more advanced domains of R&D, bubbles have formed and geopolitics have complicated investment. There is scope for some turnaround on these points
2023 preview: Buyouts
Even though debt is more readily available in Asia than in the US or Europe, financing costs are up, and buyout investors are reluctant to move for assets in an uncertain and overvalued market
2023 preview: Fundraising
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
2023 preview: Private debt
Asia-based private debt managers hope to take advantage of renewed LP appetite for the asset class, while enjoying higher returns driven by rising interest rates and widening spreads
Q&A: CICC Capital’s Mengyang Yang
Mengyang Yang, an executive director and head of private equity in Hong Kong at CICC Capital, on China’s post-pandemic revival, plans for a flagship US dollar fund, and managing guidance funds
2023 preview: Exits
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
2023 preview: India PE
India’s domestic growth story appears unobstructed, but some international investors could hold their fire. The local PE industry will not graduate to the next level without that foreign capital
2023 preview: China macro
Private equity is eager to re-engage with China as a sudden post-pandemic re-opening reminds investors focused on the country to expect the unexpected. A weak global picture could spoil the party
2023 preview: Australia PE
Market pressures on Australian businesses, including an increasingly serious labour shortage, are a challenge and opportunity for domestic private equity. So is China, but in less discernible ways
2023 preview: Southeast Asia VC
Southeast Asia VC is in fair position to hobble through a global downturn and cooling appetite for all things tech despite controversial politics in the region’s largest market and a dicey IPO outlook
2023 preview: Japan middle market
Confidence in Japan’s middle market is whipping up new deal flow, new funds, and new exit channels that will play out in 2023. This includes the possible reanimation of a dormant IPO market
China automotive chip company raises $43m
Indiemicro, a Chinese chip designer targeting the automotive industry has raised a CNY300m (USD 43m) round featuring semiconductor-focused Sunic Capital.
Q&A: Bain Capital’s David Gross-Loh
David Gross-Loh, a managing director and a founding member of the Asia business at Bain Capital, on expanding into Osaka, targeting large-cap carve-outs in Japan, and the availability of deal financing
2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
New Zealand's Partly gets $21m Series A
New Zealand’s Partly, a company that uses big data to source replacement parts for the global automotive industry, has raised a NZD 37m (USD 21m) Series A round led by UK-based Octopus Ventures.
Overallocation-driven secondary sales more talk than action – Coller
More LPs are considering sales of private equity positions via the secondary market as they find themselves overallocated to the asset class following sharp adjustments in public markets valuations, but Coller Capital has yet to see this translate into...
Australia's Potentia pursues two technology take-privates
Australia-based specialist B2B technology investor Potentia Capital appears to be continuing its pursuit of two listed companies – Nitro Software and Tyro Payments – despite several rejections.
China semiconductor player Eswin Material raises $576m
Eswin Material, the integrated circuit manufacturing unit of Eswin Technology Group, has raised CNY 4bn（USD 576m）in Series C funding led by the New Materials Fund of China National Building Material.
Korea's Google-backed Mathpresso raises $70m
Seoul-based education technology start-up Mathpresso has closed its Series C round on USD 70m following an investment of undisclosed size last year from Google.
Winter Capital leads $22.5m Series A for India's Uolo
Dubai-based Winter Capital has led a USD 22.5m Series A round for Indian education technology platform Uolo with support from local investor Blume Ventures.
Hillhouse buys Australia CRO George Clinical
Hillhouse Capital has agreed to buy George Clinical, an Australia-based clinical research organisation (CRO) with a global footprint, for an undisclosed sum.
