Tencent and Capital Today led a CNY2.5b (approximately USD360m) Series C for China-based fresh produce retailer Yipin Shengxian, with participation from existing investor Eastern Bell Venture Capital. Read more… Read More
Navis Capital Partners has exited its controlling stake in Malaysia-based information and communications technology (ICT) company Strateq via a sale to a subsidiary of Singapore-listed StarHub for MYR130m (approximately USD31m). Navis might receive an additional MYR30m (approximately USD7m) based on Strateq’s performance in 2021. Read more… Read More
US-based financial software company Intuit has agreed to acquire TradeGecko, a Singapore-based inventory management software platform, for a reported USD80m. The transaction has facilitated an exit for existing shareholders Openspace Partners, Wavemaker Partners, Golden Gate Ventures, and Jungle Ventures. Read more… Read More
South Korea-based PE firm STIC Investments has invested USD200m in Grab, a Singapore-based ride-hailing transport services company reportedly valued at USD14.3b and backed by SoftBank. Read more… Read More
The New York State Common Retirement Fund has committed USD300m to KKR Asia Fund IV. The vehicle, which targets USD12.5b, will make pan-Asia investments with a focus on control buyout transactions. The fund has reportedly raised USD11b to date. Read more… Read More
Tata Capital Growth Fund has agreed to invest INR2.25b (approximately USD30m) in India-based biopharmaceuticals company Biocon Biologics for a 0.85% stake in a deal that reportedly values the business at USD3.5b. Read more… Read More
Warburg Pincus has divested a 2.2% stake in India-based AU Small Finance Bank for INR5.17b (approximately USD69m) through an open market transaction. Buyers include Abu Dhabi Investment Authority, Reliance Mutual Fund, Morgan Stanley Asia Singapore, and Westbridge AIF I. Warburg retains a ~4.5% stake in the bank. Read More
Navis Capital Partners has acquired Cambodia-based CIA First International School for an undisclosed amount. Read more… Read More
Advent International has agreed to acquire a controlling stake in India-based pharmaceutical company RA Chem Pharma from Micro Labs for an undisclosed amount. Read more… Read More
Altos Ventures, IMM Investment, and Axiom Asia have invested KRW43.2b (approximately USD36m) in MyRealTrip, a South Korea-based travel app that positions itself as a one-stop-shop for travel bookings. Read more… Read More
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