Global alternative investment fund manager Avenue Capital Group has reached a final close for Avenue Asia Special Situations Fund V with US$450 million in capital commitments. The fund will make direct loans to Asia-based companies with limited access to bank financing, as well as acquire non-core assets from multinational companies… Read More
Thailand-focused private equity fund manager Lakeshore Capital has acquired a controlling stake in Thailand-based pharmaceutical company Devakam Apothecary Hall. The company, which manufactures over-the-counter analgesic creams under the Namman Muay brand, plans to partner with Lakeshore to recruit new management, expand its product lines, modernize the company brand and improve… Read More
Emerging markets specialist private equity fund manager LeapFrog Investments has acquired a majority stake in India-based medical products manufacturer Ascent Meditech. The company, which markets orthopedic, mobility and wound care products primarily under the Flamingo brand, will partner with LeapFrog to expand its product line and geographic presence in Sub-Saharan… Read More
Three private capital-backed companies have completed their initial public offerings (IPOs) on the Hong Kong Stock Exchange. Orchid Asia Group-sponsored Qeeka Home, a China-based online interior design and construction platform, and China-based video streaming platform Inke—which is backed by GSR Ventures, SAIF Partners and PurpleSky Capital—each raised HKD1.2 billion (approximately… Read More
South and Southeast Asia-focused private equity fund manager Creador has reportedly reached a first close for Creador IV with US$430 million in capital commitments. The fund, which has a target of US$500 million, will invest primarily in Malaysia, India, Indonesia, Vietnam and the Philippines. Read More
U.S.- and India-focused venture capital fund manager SRI Capital has reportedly reached a first close for SRI Capital Fund I with US$40 million in capital commitments. Investors in the fund include the family office of SRI Capital founder Sashi Reddi, which contributed US$20 million, and U.S.-based individuals. The fund, which… Read More
China-based coffee shop operator Luckin Coffee has raised US$200 million in a Series A round led by Centurium Capital. GIC Private, Legend Capital and Joy Capital also participated in the round. The company, which operates 525 stores in 13 cities in China, will use the funds for product research, technology… Read More
Panda Capital, a venture capital fund manager focused on technology, media and telecom in China, has reportedly reached a final close for its second renminbi-denominated fund with CNY700 million (approximately US$105 million) in capital commitments. Investors in the fund, which will focus on artificial intelligence, retail, mobility, entertainment, fintech and… Read More
U.S.- and India-focused venture capital fund manager Inventus Capital has reportedly reached a first close for its third fund with INR2 billion (approximately US$29 million) in capital commitments. The fund, which is targeting INR3.25 billion (approximately US$47 million) in total commitments, will make Series A investments in India-based technology companies… Read More
A group of investors led by CITIC Capital, CICC Capital, Bank of China Group Investment and CITIC Securities has agreed to invest CNY13 billion (approximately US$2 billion) in JD Finance, the consumer credit and wealth management spinout of China-based e-commerce retailer JD.com. JD Finance spun out from JD.com in 2017… Read More
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