Asia-focused private equity fund manager Affinity Equity Partners, along with BRV Capital Management, an affiliate of U.S.-based venture capital firm BlueRun Ventures, has agreed to invest more than KRW1 trillion (approximately US$938 million) in the e-commerce operations of Korea-based retail conglomerate Shinsegae Group. The deal will spin out the online… Read More
Vietnam-focused private equity fund manager Mekong Capital has fully exited its investment in Vietnam-based mobile device and home appliance retailer MobileWorld. The firm sold five million shares for VND165,000 (approximately US$7.26) per share for proceeds of VND825 billion (approximately US$36.3 million). Mekong originally invested US$3.5 million for a 35 percent… Read More
CITIC Capital Partners, the private equity arm of CITIC Capital, has led a Series A round for Bazhuayu, a China-based developer of automated web data scraping software. The company plans to use the funds to develop big data, artificial intelligence and scenario-based application technologies. Financial details of the transaction were… Read More
India-focused venture capital fund manager Equanimity Investments has reached a first close for its debut fund with INR700 million (approximately US$11 million) in capital commitments. Investors in the fund include individuals from India and the United States. The fund, which has a target of INR1 billion (approximately US$15.7 million), will… Read More
India-focused venture capital firm 3one4 Capital has reached a final close for 3one4 Capital Fund II with INR2.5 billion (approximately US$39.3 million) in capital commitments. Investors in the fund include institutions, corporations, family offices and fund managers from various countries. The firm will target opportunities in enterprise intelligence and automation,… Read More
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, has reportedly agreed to invest LKR3.11 billion (approximately US$20 million) in Sri Lanka-listed diversified conglomerate Softlogic Holdings. The company will issue 182.7 million ordinary shares via private placement for LKR17.00 (approximately US$0.11) per… Read More
Emerging markets specialist private equity fund manager LeapFrog Investments has led a US$47 million investment round for India-based digital lender NeoGrowth Credit. Existing investors Aspada Investment Company and Quona Capital also participated in the round. NeoGrowth, which lends to small and medium-sized businesses based on digital payments data, plans to… Read More
Global specialist asset manager Intermediate Capital Group (ICG) has acquired 100 percent of Singapore-based tertiary education provider PSB Academy from Asia-focused alternative asset management firm Baring Private Equity Asia (BPEA). PSB, which operates two campuses in Singapore and schools in Vietnam, Myanmar and Indonesia, offers tertiary degrees under the brands… Read More
Global private markets manager AlpInvest Partners has led a consortium of investors, including Singaporean sovereign wealth fund GIC, in a US$450 million stapled secondary investment for Southeast Asia-focused private equity fund manager Southern Capital. The investment will primarily be used to acquire stakes in Southern Capital’s Mulberry Asia Fund II,… Read More
India-based non-banking financial company Janalakshmi Financial Services has reportedly raised a funding round of approximately INR6 billion to INR7 billion (approximately US$94 million to US$110 million) from a group of investors including global private markets asset manager HarbourVest Partners. HarbourVest reportedly contributed INR2.5 billion to INR2.6 billion (approximately US$39 million… Read More
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