Miss Fresh, a China-based fresh produce delivery service, has raised US$450 million in a funding round led by Goldman Sachs Investment Partners and China-based technology conglomerate Tencent Holdings. Other investors in the round included China Renaissance, Davis Selected Advisers, Glade Brook Capital, Jeneration Capital, Poly Capital, Sofina and Tiger Global… Read More
North Asia-focused private equity fund manager MBK Partners has agreed to sell its 59.15 percent stake in South Korea-listed Orange Life Insurance to Shinhan Financial Group, a South Korea-based, United States-listed financial services conglomerate, for KRW2.3 trillion (approximately US$2.1 billion). MBK will sell 48.5 million shares at KRW47,400 (approximately US$42)… Read More
Southeast Asia- and South Korea-focused early-stage venture capital firm Access Ventures has reached a final close for its first fund with US$15 million in capital commitments. Investors in the fund include high-net worth individuals, family offices and corporations from North Asia, Southeast Asia and the United States. Launched in September… Read More
Private equity and venture capital fund managers Lightspeed Venture Partners and DST Global have invested US$225 million in India-based business-to-business e-commerce portal Udaan, valuing the company at US$1 billion. Udaan allows retailers and small- and medium-sized wholesalers and traders to purchase and sell goods on its platform and underwrites loans… Read More
China-based automotive marketplace SouChe has raised US$578 million in a funding round led by China-focused private equity and venture capital fund managers Primavera Capital Group and Morningside Venture Capital. Existing investors including e-commerce and technology conglomerate Alibaba Group Holding, investment firm Dreamfly Capital and private equity fund manager ClearVue Partners… Read More
Myanmar-focused private equity fund manager Anthem Asia has reached a first close for Myanmar SME Venture Fund with US$34.5 million in capital commitments. Investors in the fund include development finance institutions International Finance Corporation, the Dutch Good Growth Fund and CDC Group. The fund, which is targeting US$50 million in… Read More
China-focused private equity fund manager Bull Capital Partners has led a US$30 million Series C round for Baibu, a China-based business-to-business (B2B) trading platform for textile and fabrics. Existing investors Source Code Capital, Yunqi Partners and Chengwei Capital also participated in the round. Read More
Finch Capital, a venture capital firm investing in early-stage financial technology businesses in Southeast Asia and Europe, has exited its minority stake in Indonesia-based online financial product marketplace Cermati to Indonesia-based conglomerate Djarum Group. Finch originally invested in Cermati’s Series A round in February 2017 and reportedly generated a 2.7x… Read More
Global venture capital firm Sequoia Capital has reached final closes for its latest China-focused funds with US$2.5 billion in aggregate capital commitments. Sequoia raised US$1.8 billion for Sequoia Capital China Growth Fund V, US$550 million for Sequoia Capital China Venture Fund VII and US$150 million for Sequoia Capital China Seed… Read More
Global alternative investment manager KKR, through its credit arm, has agreed to acquire 100 percent of JBF Petrochemicals, a subsidiary of India-based polyester manufacturer JBF Industries. The parent company, which reportedly has total debt of about INR110 billion (approximately US$1.6 billion), will use the funds to partly repay obligations to… Read More
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