Funds
Australia’s Heal Partners closes debut fund on $137m
Australia’s Heal Partners, a health, education, and lifestyle-focused venture capital firm, has closed its first fund on AUD 200m (USD 137m). The target was AUD 100m.
PAG closes fifth credit fund on $2.6bn
PAG has closed its fifth pan-Asian private credit fund at the hard cap with USD 2.6bn. It is said to be the largest direct lending fund raised in the region to date.
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
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
Hong Kong’s E15 VC raises $61m for third fund
Hong Kong’s E15 VC has hit a first close of USD 60.75m on its third global deep tech fund with an anchor investment from existing cornerstone LP Sun Hung Kai & Co (SHK).
Affirma hits first close on renminbi fund
Emerging markets-focused private equity firm Affirma Capital has reached a first close of approximately CNY 1.5bn (USD 215m) on its debut renminbi-denominated fund.
India's Blume closes fourth India VC fund on $250m
India’s Blume Ventures has closed its fourth fund targeting seed-stage tech start-ups on USD 250m, beating a target of USD 200m. Fund III raised USD 105m in 2020.
Thoma Bravo raises $32b for deployment in software
Thoma Bravo, a specialist investor in software companies, has closed its latest set of buyout funds with more than USD 32.4bn in commitments. This compares to USD 22.8bn in the previous vintage.
India's Innoven fractionalises venture debt fund
India’s Innoven Capital, a joint venture between UOB and Temasek Holdings-owned Seviora Holdings, has fractionalised a USD 50m venture debt fund using blockchain and smart contracts.
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
China's InnoVision seeks $250m for third fund
InnoVision Capital, a Chinese private equity firm founded by Lane Zhao, who was one of the original members of KKR’s China team, is targeting USD 250m for its third fund and first US dollar-denominated vehicle.
Korea's Daesung Private Equity raises $85m metaverse fund
Daesung Private Equity, an affiliate of Korean conglomerate Daesung Group, has launched a metaverse-focused fund with KRW 110bn (USD 84.6m) in commitments.
Secondary investor backs Hidden Hill's $465m fundraise
Hidden Hill Capital, which is backed by warehouse operator turned logistics and infrastructure investment manager GLP, has closed its debut growth-stage US dollar-denominated fund on USD 465m with secondaries specialist NewQuest Capital Partners among...
FWD, Artem launch Malaysia insurtech fund
Hong Kong-based insurer FWD Group and Malaysia’s Artem Ventures have set up a MYR 45m (USD 10.2m) VC fund focused on insurance technology and Islamic financial technology in Malaysia.
India's 3one4 seeks $200m for fourth VC fund
3one4 Capital, an India-based early-stage investor, has launched its fourth venture capital fund with a target of USD 200m. It raised the same amount in the previous vintage.
Singapore’s Iterative closes second VC fund on $55m
Singapore-based early-stage VC firm and accelerator Iterative has closed its second Southeast Asia fund with USD 55m in commitments.
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
Asia Partners targets $600m for second Southeast Asia fund
Asia Partners, a Singapore-based private equity firm focused on growth-stage technology investments, is targeting USD 600m for its second fund.
Proterra raises $200m for Asia food fund
Proterra Investment Partners has reached a final close on a Singapore-domiciled fund that will make food-related investments across Asia with more than USD 200m in commitments.
China's Primavera targets $300m for credit fund
Primavera Capital Group is looking to raise USD 300m for a private credit fund as the China-focused private equity firm continues to diversify its offering by geography and strategy.
India's Kae Capital closes Fund III on $94m
Indian seed-stage investor Kae Capital has closed its third flagship fund at about INR 7.7bn (USD 94m) with about 40% of the capital coming from overseas investors.
Unison Korea targets $680m for Fund III
Unison Capital is targeting KRW 800bn-KRW 900bn (USD 603m-USD 680m) for its third Korea fund, nearly twice what was raised in the previous vintage.
