WeWork China, a subsidiary of U.S.-based office rental and co-working company WeWork, has raised US$500 million in a Series B funding round. Investors in the round included China-focused private equity fund managers Trustbridge Partners and Hony Capital, Singaporean sovereign wealth fund Temasek Holdings, global technology conglomerate SoftBank and the SoftBank… Read More
China-based online automotive services platform Cango has raised US$44 million in its initial public offering (IPO) on the New York Stock Exchange. Cango, which is backed by private equity fund managers Warburg Pincus and Primavera Capital Group, technology conglomerate Tencent Holdings and ride-hailing company Didi Chuxing, sold 4 million American… Read More
Baring Private Equity Asia has reportedly reached a first close for its seventh flagship fund with US$4.5 billion in capital commitments. Investors in the fund include Rhode Island State Treasury Public Pension Fund, which committed US$50 million, Teacher Retirement System of Texas and Canada Pension Plan Investment Board, as well… Read More
China-focused venture capital fund manager China Creation Ventures (CCV) has reached a final close for its debut U.S. dollar-denominated fund with US$200 million in capital commitments. The fund will target early-stage opportunities in the technology, media and telecom (TMT) sectors in China. CCV, which was established in 2016 by former… Read More
China-focused venture capital fund manager Long Hill Capital has reached a final close for Long Hill Capital Venture Partners 2 with US$265 million in capital commitments. Investors in the fund include pension funds, endowments, foundations, financial institutions, family offices and funds of funds. The fund will target opportunities in select… Read More
A consortium led by global alternative investment manager KKR has agreed to acquire all issued and outstanding shares of Taipei Stock Exchange-listed LCY Chemical for TWD56 (approximately US$1.83) per share and take the company private. The deal values LCY, which produces specialty chemicals for various industries, at TWD47.8 billion (approximately… Read More
Global private equity fund manager Warburg Pincus has led a US$140 million Series D funding round for China-based fintech company Hangzhou Wacai Internet Financial Services. China-focused venture capital fund manager Qiming Venture Partners, which originally invested in the company in 2014, also participated in the round. Wacai offers various mobile… Read More
Global investment banking and asset management group Goldman Sachs and China-based e-commerce and technology conglomerate Alibaba Group Holding have led a US$600 million Series A funding round for Suning Sports, the sports-focused arm of China-based retailer Suning. Yunfeng Capital, Lion Rock Capital, Evergrande Group, SenseTime, China Construction Bank, Industrial &… Read More
Emirati sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and global alternative asset manager TPG have agreed to invest US$1.2 billion for a combined 22 percent stake in India-based agrochemical manufacturer UPL Corporation. The company plans to use the funds to support its acquisition of 100 percent of Arysta LifeScience,… Read More
The Centre for Innovation, Incubation and Entrepreneurship (CIIE), the incubator program of the Indian Institute of Management (IIM) in Ahmedabad, has reached a first close for Bharat Innovation Fund. Investors in the fund include Small Industries Development Bank of India, financial services firms ICICI Lombard and RBL Bank and corporate… Read More
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