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Warburg Pincus and Goodwater Capital Lead USD100m Investment in Vietnamese Fintech MoMo

Warburg Pincus and Goodwater Capital co-led a USD100m Series D for Vietnam-based M Service JSC which operates MoMo, a mobile wallet services provider. Affirma Capital, Kora Management, Tybourne Capital, and

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Hanwha Leads USD300m Investment in Grab Financial

South Korea’s Hanwha Asset Management led a USD300m investment in Southeast Asian ride-hailing and food delivery giant Grab’s fintech business. Flourish Ventures and Arbor Ventures, as well as existing investors

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CICC Capital Reaches USD648m Second Close for Biomedical Fund

China’s CICC Capital reached a CNY4.2b (approximately USD648m) second close of its Qide Innovation Biopharmaceutical Equity Investment Fund, backed by China’s state-owned enterprises, corporations, and high-net-worth individuals. Read more

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CITIC Invests in Chinese Baby Travel Safety System Provider Max-Inf

CITIC Capital has invested an undisclosed amount in Max-Inf, a China-based provider of baby travel safety systems. Read more

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Accial Capital Invests USD21m Debt in Indonesian Fintech Pintek

Accial Capital has invested USD21m in debt in Pintek, an Indonesia-based fintech platform that provides credit to students and their families, educational institutions, and their suppliers. Read more

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Bow Wave Capital Management Leads USD175m Investment in Mynt

Philippine mobile wallet GCash has raised more than USD175m from Bow Wave Capital Management. Bow Wave now has a 14% stake in Mynt, which operates GCash. Read more

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Horizons Ventures and Alpha JWC Lead USD25m Series A for Indonesian Digital Investment Platform Ajaib

Horizons Ventures and Alpha JWC led a USD25m Series A for Indonesia-based digital investment platform Ajaib Group, with follow-on from SoftBank Ventures Asia, Insignia Ventures, and Y Combinator. Read more

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KKR Reaches USD3.9b Final Close for Asia Pacific Infrastructure Fund

KKR has reached a USD3.9b final close for its KKR Asia Pacific Infrastructure Investors fund. The vehicle will focus on infrastructure-related investments across Asia Pacific. Read more

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Carlyle Leads USD123m Series D for Chinese Biotech Abbisko

The Carlyle Group led a USD123m Series D for China-based biotech firm Abbisko, with participation from Warburg Pincus, OrbiMed, and Lake Bleu Capital. Janchor Partners, Sage Partners, SHC, and Greater

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Sequoia China Leads USD150m Series B for Chinese Biotech Visen Pharmaceuticals

Sequoia Capital China led a USD150m Series B for China-based biotech firm Visen Pharmaceuticals, with participation from OrbiMed, Sherpa Healthcare Partners, Cormorant, HBM Healthcare Investments, Pivotal bioVenture Partners China, Logos

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Omnivore Invests Seed Round for Indian Agtech Agri10x

Omnivore has invested an undisclosed seed round for Agri10x, an India-based agtech that operates a blockchain-based marketplace connecting farmers and buyers. Read more

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Lightspeed VP, Tencent, DST Global, GGV Capital, and Altimeter Capital Invest USD280m in Indian B2B Marketplace Udaan

Existing investors Lightspeed Venture Partners, Tencent Holdings, DST Global, GGV Capital, and Altimeter Capital, and new investors Octahedron Capital and Moonstone Capital have invested USD280m in India-based B2B e-commerce firm

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CITIC PE, CICC, and Primavera Lead USD279m Series C for Chinese AI Chip Designer Enflame

CITIC PE, CICC Capital, and Primavera Capital led a CNY1.8b (approximately USD279m) Series C for China-based AI chip designer Enflame Technology, with follow-on from Tencent Holdings, Summitview Capital, and Redpoint

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Openspace Ventures, Northstar, Alpha JWC, and Others Invest Pre-Series B for Indonesian Edtech Zenius

New investors Openspace Ventures and Alpha JWC Ventures and existing investors the Northstar Group, Kinesys, and BeeNext have invested an undisclosed pre-Series B round for Indonesia-based edtech Zenius Education. Read

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Endiya Partners Reaches USD75m Final Close for India VC Fund

Endiya Partners has reached a INR5b (approximately USD75m) final close for its second fund. The vehicle will make early-stage investments in startups in the consumer internet services, health care, SaaS,

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Fubon Life Insurance Commits USD85m to Coller and Hamilton Lane Funds

Taiwan-based insurer Fubon Life Insurance has committed a combined USD85m to two PE funds: Fubon committed USD65m to Coller International Partners VIII, a vehicle managed by Coller Capital; and USD20m

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Mekong Capital Reaches USD246m Final Close for Fourth Fund

Mekong Capital has reached a USD246m final close for MEF IV. The vehicle will make growth equity investments in Vietnamese companies operating in the retail, education, restaurants, consumer services, health

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Sequoia India Leads USD30m Investment in Indonesian Digital Investment Platform Bibit

Sequoia Capital India led a USD30m investment in Indonesia-based digital investment platform Bibit, with follow-on from East Ventures, EV Growth, AC Ventures, and 500 Startups. Read more

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Westbridge Exits Indian Gaming and Sports Media Company Nazara Technologies to Plutus Wealth Management

Westbridge Capital has exited India-based gaming and sports media company Nazara Technologies to Plutus Wealth Management via a share sale worth INR5b (approximately USD68.5m). Read more

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Warburg to Invest USD100m in Indian Consumer Electronics Startup BoAt

Warburg Pincus has agreed to invest USD100m in BoAt, an India-based consumer electronics startup which sells low-cost bluetooth speakers and other personal electronics products. Read more

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Trustbridge Leads USD500m Investment in Chinese Healthtech DXY

Trustbridge Partners led a USD500m funding round for China-based healthtech DXY,  with participation from Tencent and GL Ventures. Read more

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Oceanpine Reaches USD400m Final Close for Fund II

Oceanpine has reached a USD400m final close for its second fund targeting investments in tech and health care. Read more

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Alibaba, Tiger Global, SoftBank, Others Invest USD1.6b Series E for Chinese Edtech Zuoyebang

Alibaba, Tiger Global, SoftBank Vision Fund, Sequoia Capital China, and FountainVest Partners have invested a USD1.6b Series E for China-based edtech Zuoyebang. Read more

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Yunfeng Capital Invests USD300m in Chinese Edtech Yuanfudao

Yunfeng Capital has invested USD300m in China-based edtech Yuanfudao, bringing the overall funding raised by the company in 2020 to USD3.5b. In March 2020, Hillhouse led the company’s USD1b Series

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TPG Rise Fund Leads USD210m Series D for Chinese Edtech Meishubao

TPG’s The Rise Fund led a USD210m Series D for Meishubao, a Chinese online art education platform, with participation from Fortune Capital, Winsdom Capital, SAIF Partners, Bojia Capital, and Chuangzhi

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Sequoia China Leads USD515m Series E for Hong Kong’s On-Demand Delivery Company Lalamove

Existing investors Sequoia Capital China led a USD515m Series E for Hong Kong-based on-demand delivery company Lalamove, with follow-on from Shunwei Capital Partners and Hillhouse Capital. Read more

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5Y Capital, Hillhouse, and Capital Today Lead USD150m Series C1 for Chinese AI Chip Designer Horizon Robotics

5Y Capital (formerly Morningside Venture Capital), Hillhouse Capital’s GL Ventures, and Capital Today led the USD150m first tranche of a Series C for China-based AI chip designer Horizon Robotics, with

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NIIF Master Fund Reaches USD2.34b Final Close

The National Investment and Infrastructure Fund has reached a USD2.34b final close for NIIF Master Fund, a vehicle targeting investments in operating assets in core infrastructure sectors, primarily transportation and

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OTTP to Invest USD275m in South Korean Fried Chicken Chain BHC Group

Ontario Teachers’ Pension Plan (OTTP) has agreed to invest KRW300b (approximately USD275m) in South Korea-based fried chicken restaurant chain BHC Group, facilitating a full exit for Elevation Equity Partners. Read

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Everstone to Exit Indian Bread and Bakery Brand Modern Foods via Sale to Grupo Bimbo

Everstone Capital has agreed to sell India-based bread and bakery brand Modern Foods to Mexican bakery giant Grupo Bimbo for an undisclosed amount. Read more

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DCP and CPE Lead USD300m Round for Chinese Cloud Infrastructure Provider Hotwon Group

DCP Capital Partners and CPE (formerly CITIC Private Equity) led a USD300m round for China-based cloud computing infrastructure provider Hotwon Group. Read more

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FountainVest Reaches USD1.6b First Close for PE Fund

FountainVest Partners has reached a USD1.6b first close for its fourth USD-denominated PE fund, which has an initial target of USD2.8b. Read more

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Warburg Pincus Exits Remaining Stake in India’s AU Small Finance Bank for USD173m

Warburg Pincus exited its remaining 4.47% stake in India’s AU Small Finance Bank via open market transactions. WestBridge Capital Partners bought 5.95 million shares for INR5.42b (approximately USD73.4m). Read more

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CICC Leads Undisclosed Series C for Chinese AI Consulting Business AInnovation at USD1b Valuation

CICC Capital led an undisclosed Series C for AInnovation, the consulting unit of China-based Sinovation Ventures at a USD1b valuation, with participation from Shanghai Guohe Capital and Riverhead Capital, and

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Partners Group Invests USD250m in India’s Ecom Express and Facilitates a Partial Exit for Warburg

Partners Group invested USD250m in Indian logistics company Ecom Express, facilitating a partial exit for controlling shareholder Warburg Pincus. Partners Group and Warburg Pincus now both have 35% stakes in

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IMM Completes USD1.8b Final Close Targeting South Korea

IMM Private Equity completed a final close for its fourth South Korea-focused vehicle, RoseGold IV. Read more

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Fubon Life Commits USD130m to Two Hillhouse Funds

Fubon Life Insurance, the insurance arm of Taiwan-based financial conglomerate Fubon Financial Holdings, has invested a combined USD130m in two Hillhouse Capital funds. Fubon has committed USD65m to Hillhouse Fund

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Gaja Capital Leads USD32m Series B for Indian SaaS Startup LeadSquared

Gaja Capital led a USD32m Series B for Indian marketing automation and customer-relationship platform LeadSquared with participation from existing investors GSK Velu-led Stakeboat Capital and AppDynamics founder Jyoti Bansal. Read

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Multiple Ventures Invests in India’s Nova Benefits

Multiple Ventures invested an undisclosed seed round in Indian HRtech Nova Benefits. Read more

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Befor Capital Reaches Combined USD106.8m First Close Across China VC Funds

Chinese VC Befor Capital has reached a USD76.3m first close for Fund III and a USD30.5m first close for Fund IV. Befor invests in the consumption upgrade, advanced technology, and

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Quona Leads USD21m Series B for Indian Agtech Arya

Quona Capital led a USD21m Series B for Arya, an India-based agtech focused on post-harvest services for farmers, with participation from Omnivore and LGT Lightstone Aspada. Read more

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CVC Invests USD124m in Philippines Logistics Company Fast Group

CVC Capital Partners invested PHP6b (approximately USD124m) for a 40% stake in Philippines third-party logistics company Fast Group. Read more

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CVC to Acquire Myanmar’s Irrawaddy Green Towers in USD700m Deal

CVC Capital has agreed to acquire Myanmar-based telecom tower company Irrawaddy Green Tower in a deal reportedly valued at USD700m. Read more

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India Alternatives Partially Exits Indian Credit Information Company TransUnion CIBIL for USD46m

India Alternatives has partially exited its 2.9% stake in India-based credit information company TransUnion CIBIL via a USD46m sale to Malaysian sovereign fund Khazanah Nasional Berhad. Read more

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PE-Backed Chinese E-Commerce Company Pop Mart Makes Hong Kong Trading Debut with USD674m IPO

Sequoia Capital China-, China Renaissance Group-, and Loyal Valley Capital-backed Pop Mart International Group, a Chinese fashion toy retailer, completed a USD674m IPO on the Hong Kong Stock Exchange. Read

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Multiples Exits 2% Stake in Indian Movie Theater Chain PVR for USD24m

Multiples Alternate Asset Management has sold 2% of its 11% stake in India-based movie theater chain PVR through an open market transaction for USD24m. Read more

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UOBVM and Credit Suisse Reach USD60m First Close for Asia Impact Fund

UOB Venture Management (UOBVM) and Credit Suisse have reached a USD60m first close on their second Asia impact investment fund. Read more

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CLSA Reaches USD226m Final Close for Debut Asia Private Debt Fund

CLSA has reached a USD226m for Lending Ark Asia Secured Private Debt Fund, a vehicle targeting SMEs in the Asia Pacific region. Read more

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Insitor Impact Asia and TRIREC Lead USD2m Series A2 for Myanmar’s Solar Energy Startup SolarHome

Insitor Impact Asia Fund and TRIREC led a USD2m Series A2 for SolarHome, a solar energy startup offering pay-as-you-go solutions for off-grid households in Myanmar, with participation from Anthem Asia

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ZWC Partners Reaches USD400m First Close for China and Southeast Asia VC Fund

ZWC Partners has reached a USD400m first close for its latest USD-denominated fund, a vehicle targeting early- and growth-stage startups specializing in industrial internet and new consumer across China and

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Lilly Asia Ventures and ARCH Venture Partners Lead USD100m Series A for US- and China-Based Drug Developer SciNeuro

Lilly Asia Ventures and ARCH Venture Partners led a USD100m Series A for SciNeuro Pharmaceuticals, a China- and US-based drug developer specializing in treatments for central nervous system disorders, with

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CLSA Capital Completes USD226m Final Close for PE Debt Fund

CLSA Capital Partners has closed its maiden private debt fund, Lending Ark Asia Secured Private Debt, at USD226m. The fund targets Asia and is to be managed by a joint

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Asia Partners Leads USD30m Series D for Malaysian Used Car Marketplace Carsome

Asia Partners led a USD30m Series D for Malaysia-based used car marketplace Carsome, with participation from existing investors Burda Principal Investments and Ondine Capital. Read more

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