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
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
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