China-based electric vehicle producer Lixiang Automotive has secured USD530 million in a Series C funding round led by Meituan-Dianping founder and CEO Xing Wang, with participation from Source Code Capital, Intime Retail Group, BlueRun Venture, FutureCap, and Funcity Capital. The deal reportedly values Lixiang at USD2.9 billion. Read More
Korea-based clinical biotechnology company D&D Pharmatech has raised a USD137 million Series B funding round led by US-based investment firm Octave Life Sciences. Korea-focused venture investors Smilegate Investment, InterVest, Magna Investment, and LB Investment also participated in the round, along with individual investors from the US and Korea. D&D Pharmatech… Read More
Korea-focused fund manager Anchor Equity Partners has led an investment round for China-based marketing solutions provider Cue Holdings. Global alternative investment manager KKR, which originally acquired a controlling stake in Cue in 2018, and global technology investor Princeville Capital also participated in the round. Cue provides enterprises with data-driven marketing… Read More
China-focused fund manager 01VC has reached a final close for its second USD denominated fund with USD100 million in commitments. Investors in the fund include international foundations, endowments, family offices, and funds of funds. Fund II will focus on early-stage opportunities in technology-enabled supply chain businesses, logistics platforms, business-to-business companies,… Read More
Global technology group Naspers has led a USD125 million investment round for India-based e-commerce platform Meesho. Other investors in the round include Facebook, individual investor Arun Sarin, and venture capital investors SAIF Partners, Sequoia Capital, Shunwei Capital, RPS Ventures, and Venture Highway. Meesho connects product resellers with suppliers and provides… Read More
Kotak Investment Advisors, the alternative investment arm of Kotak Mahindra Bank, has reached a final close for Kotak Special Situations Fund with USD1 billion in capital commitments. Abu Dhabi Investment Authority anchored the fund with a USD500 million commitment. Kotak Special Situations Fund will focus on structured credit solutions and… Read More
Egypt-based electronic payments platform Fawry has raised EGP1.6 billion (approximately USD96 million) in its initial public offering (IPO) on The Egyptian Exchange. As part of the IPO, Africa-focused private investment firm Helios Investment Partners and impact investment fund manager responsAbility Investments, which respectively invested in Fawry in 2015 and 2017,… Read More
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has reached a final close for CITIC Capital China Partners IV with USD2.8 billion in commitments. Investors in the fund include pension funds, sovereign wealth funds, insurance companies, financial institutions, family offices, and funds of funds. The fund will… Read More
Global investment manager KKR has agreed to acquire a 70 percent stake in NVC China, the China business of Hong Kong-listed multinational lighting products manufacturer NVC Lighting, for USD794 million. The transaction, which is subject to shareholder and regulatory approval and closing conditions, will be completed through KKR’s Asian Fund… Read More
Pakistan-based ride-sharing service Airlift has secured USD2.2 million in seed funding from Fatima Gobi Ventures—a joint venture between Pakistan-based conglomerate Fatima Group and Asia-focused venture investor Gobi Partners—and Pakistan-focused venture capital fund manager Indus Valley Capital, along with multiple high-net-worth individuals. The company allows users to reserve seats on buses… Read More
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