Centurium Capital Leads USD250m Investment in Chinese Coffee Chain Luckin Coffee
Existing investors Centurium Capital and Joy Capital have invested USD240m and USD10m respectively in China-based coffee chain Luckin Coffee. Read more… Read More
Genesis Alternative Reaches USD80m Final Close for Southeast Asia Venture Debt Fund
Genesis Alternative Ventures has reached a USD80m final close for its Genesis Alternative Ventures Fund I (GAVF-I), a venture debt vehicle focused on Southeast Asia. To date, GAVF-I has invested over USD30m in 12 companies. Read more… Read More
SoftBank and Blackrock Lead USD640m Series E for Singaporean Computer Vision Company Trax
SoftBank Vision Fund 2 and existing investor BlackRock led a USD640m Series E for Trax, a Singapore-based computer vision company focused on retail, with participation from OMERS and IGV’s Sony Innovation Fund. Read more… Read More
Grab to List on Nasdaq Through SPAC Merger with Altimeter
Singapore-based super app Grab is set to list on the Nasdaq through a SPAC merger with Altimeter Capital Management in a deal that could value the startup at ~USD39.6b, with an additional ~USD4b PIPE deal in the works. Investors in the PIPE include BlackRock, Counterpoint Global, T. Rowe… Read More
Pine Labs Acquires Malaysian E-Commerce Platform Fave for USD45m
Pine Labs has acquired Malaysia-based e-commerce and fintech company Fave for USD45m, facilitating an exit for all existing investors including Sequoia Capital India and SIG Asia Investments. Read more… Read More
Affirma Reaches USD403m First Close for Korea Fund & Invests in T Map Mobility
Affirma Capital has reached a USD403m first close for Ascenta V, its fifth Korea-focused fund. The vehicle will deploy capital in Korea, China, India and other Southeast Asia markets. The fund will invest USD181m in T Map Mobility, a South Korea-based map-navigation service provider. Read more here… Read More
5Y Capital Reaches Combine USD2b Final Close for USD & CNY Funds
5Y Capital (formerly Morningside Venture Capital) has raised ~USD1.7b for its sixth USD-denominated fund and ~USD290m for its CNY-denominated fund focused on early- and growth-stage investments in China. Read more… Read More
Legend, Lightspeed China and Greater Bay Area Homeland Investments Lead USD100m Series B & B+ for Chinese Pharma StoneWise
StoneWise, a China-based pharmaceutical company that uses AI to accelerate drug discovery, has raised an aggregate USD100m in funding through its Series B and B+ rounds. Legend Capital led the Series B, while Lightspeed China and Greater Bay Area Homeland Investments led the Series B+. New investors CDH… Read More
Tiger Global Leads USD100m Series D for Indian Social Commerce Platform DealShare
Tiger Global Management led a USD100m Series D for DealShare, an India-based e-commerce platform for middle- and lower-income consumers. Read more… Read More
BPEA to Invest USD100m in Chinese Drug Developer HutchMed
Baring Private Equity Asia has agreed to invest USD100m in US- and London-listed Hutchison China MediTech (HutchMed), a China-based cancer drug developer. Read more… Read More
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