China-focused private equity firm Green Harbor Investment has led a CNY800 million (approximately US$125 million) Series D round for China-based used-car auction platform Jiangsu Chezhibao Information Technology. Existing investors PAG, Addor Capital and Gobi Partners also participated in the round. The company plans to use the new capital to expand… Read More
Asia Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has partially exited South Korea-listed train maker Hyundai Rotem for KRW245 billion (approximately US$229 million), selling 7 million shares at KRW35,075 (approximately US$33) per share through a block trade on the Korea Exchange. MSPEA originally acquired a 42.36 percent… Read More
U.K.-based semiconductor company Arm Holdings, a subsidiary of SoftBank Group, has agreed to sell a 51 percent stake in its Chinese division, Arm Technology China, to a consortium led by Hou An Innovation Fund for US$775 million. Hou An Innovation Fund is an investment vehicle co-managed by Arm Holdings and… Read More
India-focused private equity fund manager Kedaara Capital has acquired India-based auto component manufacturer Sunbeam Auto at a reported enterprise value of INR8.5 billion (approximately US$127 million) to INR9 billion (approximately US$134 million). The company designs, manufactures and sells automotive aluminum die casting components. Read More
India Resurgent Fund (IRF), a joint venture between Bain Capital Credit and India-based conglomerate Piramal Enterprises, has invested INR8 billion (approximately US$119 million) in India-based Archean Chemical Industries in a debt and equity transaction. IRF has reportedly acquired the existing loans of Archean from a group of public sector banks… Read More
Vietnam-focused private equity fund manager Mekong Capital has invested in Vietnam-based mattress and bedding retailer Vua Nem through Mekong Enterprise Fund III. With Mekong’s support, Vua Nem plans to merge its two existing brands, Dem.vn and Vuanem.vn, into the unified Vua Nem brand, build a new e-commerce website and expand… Read More
Global private equity fund manager Warburg Pincus has agreed to acquire a 26 percent stake in IndiaFirst Life Insurance from U.K.-based financial services provider Legal & General Group for INR7.1 billion (approximately US$105 million). Legal & General, Bank of Baroda and Andhra Bank founded IndiaFirst in 2009 as a joint… Read More
Pakistan-focused Ijara Capital Partners has acquired a 100 percent stake in Pakistan-based frozen food company Quick Foods Industries. The company principally operates under the Mon Salwa brand, offering a range of frozen meatballs, kebabs, burger patties and nuggets. Financial details of the transaction, which is the first completed by Ijara’s… Read More
China-based artificial intelligence company SenseTime has raised a US$620 million Series C+ round valuing the company at more than US$4.5 billion. Investment firms Fidelity International, Hopu Investment Management, Silver Lake and Tiger Global Management led the round, which also included participation from Qualcomm Ventures and other financial and strategic investors. Read More
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital fund manager YourNest and several angel investors have jointly invested INR90 million (approximately US$1.3 million) in India-based fintech startup CredRight. CredRight provides credit to unserved and underserved micro-, small- and medium-sized enterprises. The company partners… Read More
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