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SoftBank Ventures Asia and Daesung Lead USD28m Series D for Indian Fintech True Balance

SoftBank Ventures Asia and Daesung Private Equity led a USD28m Series D for India-based digital payments startup True Balance, with participation from Naver and BonAngels, and follow-on from Shinhan Capital.

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Qiming Reaches USD1.2b Final Close for China VC Fund

Qiming Venture Partners has reached a USD1.2b final close for Qiming Venture Partners Fund VII, a vehicle targeting early-stage investments in the health care and TMT sectors in China. Read

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Sequoia Capital Leads USD5.9m Series A for Indian Livestock Trading Platform Animall

Sequoia Capital India led a INR445m (approximately USD5.9m) Series A for India-based livestock trading platform Animall Technologies, with participation from Omnivore Partners and LetsVenture Fund. Read more

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Future Capital Reaches USD187m Final Close for China-Focused Tech Fund

Future Capital Discovery Fund has reached a USD187m final close for its USD Fund IV, its fourth USD-denominated vehicle targeting early-stage investment opportunities in enterprise technology and consumer technology companies

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GGV Capital Leads USD30m Series D for Indian Insurtech Turtlemint

GGV Capital led a USD30m Series D for India-based insurtech Turtlemint, with participation from American Family Ventures, MassMutual Ventures, and SIG. Existing investors Sequoia Capital India, Blume Ventures, Nexus Venture

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CITIC- and Caixin Global-Led Consortium Exits Market Intelligence Provider ISI Emerging Markets via Sale to Montagu

A consortium led by CITIC Capital and Caixin Global has agreed to fully exit its investment in ISI Emerging Markets Group, a market intelligence provider originally founded in Hong Kong,

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TA Associates to Acquire 60% Stake in Indian Nutraceutical Ingredients Company OmniActive for USD150m, Everstone Exits

TA Associates has agreed to acquire a 60% stake in India-based OmniActive Health Technologies for USD150m, facilitating an exit for Everstone Capital and several HNIs. Everstone held a 35% stake

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Investcorp Acquires Majority Stake in Singaporean Instant Cereal and Beverage Company Viz Branz

Investcorp has acquired a majority stake in Singapore-based instant cereal and beverage company Viz Branz from the company’s CEO, Mr. Ben Chng. Read more

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CDC and DPI to Acquire Indian Drugmaker Celon Laboratories for USD75m via Zanzibar Pharma

CDC Group and Development Partners International have partnered to form Zanzibar Pharma, a pharmaceuticals platform through which they have agreed to acquire Celon Laboratories, an India-based drugmaker backed by Sequoia

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GIC Leads USD200m Series D2 for Chinese Edtech Aixuexi Education

GIC led a USD200m Series D2 for China-based edtech Aixuexi Education Group, bringing the total capital raised by the company through its Series D to over USD300m. Warburg Pincus and

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IDG Leads USD80m Series B for Chinese Biotech Firm PTM Biolabs

IDG Capital led a USD80m Series B for China-based biotech firm PTM Biolabs, with participation from Fortune Capital, Highlight Capital, and SDIC Venture Capital. Read more

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Ascent Capital Reaches USD88m Final Close for Debut Myanmar Fund

Ascent Capital has reached a USD88m final close for its Ascent Myanmar Growth Fund. The vehicle will make 10-15 investments in SMEs active in the consumer, education, financial services, health

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Yingke PE Reaches USD1.5b Final Close for China-Focused Tech and Health Care Fund

Yingke Private Equity has reached a USD1.5b final close for the Yingke China Core Asset Strategic Allocation Fund, a vehicle focused on investments in core technology and biomedical science assets

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GIC Acquires 17.5% Stake in Renewable Energy Platform AC Energy Philippines for USD412m

GIC has agreed to acquire a 17.5% stake in AC Energy Philippines, a Philippines-based renewable energy platform, for USD412.5m. Read more

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OTPP and ADIA Invest USD1.25b in Singaporean Renewable Energy and Waste Infrastructure Developer Equis Development

Ontario Teachers’ Pension Plan Board and Abu Dhabi Investment Authority have committed USD1.25b to Equis Development, a Singapore-based renewable energy and waste infrastructure developer and operator. Read more

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Legend Capital and Lyfe Capital Lead USD226.6m Series B for Chinese Biotech Firm RecBio

Legend Capital and Lyfe Capital led a CNY1.5b (approximately USD226.6m) Series B for China-based biotech firm RecBio, with participation from Sequoia Capital and Temasek’s Vertex Ventures. Other investors include China’s

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MBK Partners to Invest USD228m in Chinese Car Rental Company CAR for 20.9% Stake

MBK Partners has agreed to invest HKD1.7b (approximately USD228m) in Hong Kong-listed China Rental Car from Ucar for a 20.9% stake. Read more

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SoftBank-Backed Grab Leads USD100m Series B for Indonesian Fintech LinkAja

SoftBank-backed Grab led a USD100m Series B for Indonesia-based fintech LinkAja, with participation from Telkomsel, BRI Ventura Investama, and Mandiri Capital Indonesia. Read more

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OTPP Leads USD267m Series C for Chinese Self-Driving Startup Pony.ai

Ontario Teachers’ Pension Plan Board led a USD267m Series C for China-based autonomous driving startup Pony.ai at a post-money valuation of USD5.3b. Fidelity China Special Situations, ClearVue Partners, Eight Roads,

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Mirae Asset-Naver Growth Fund and Others Invest Additional USD146m Series J for Indian Food Delivery Startup Zomato

Mirae Asset-Naver Asia Growth Fund, Steadview Capital, Luxor Capital Group, Lugard Road Capital, and ASP India Fund have invested INR10.85b (approximately USD146m) in the ongoing Series J for India-based food

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Investcorp, Norwest VP, and Gaja Invest USD110m for 31% Stake in Indian Logistics Startup XpressBees

Investcorp, Norwest Venture Partners, and Gaja Capital have invested USD110m in Indian e-commerce logistics startup XpressBees for a collective 31% stake, facilitating an exit for Paytm, Vertex Ventures, and NEA.

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Goldman Sachs Invests USD150m in Indian Biopharma Biocon Biologics

Goldman Sachs has agreed to invest INR11.25b (approximately USD150m) in India-based biopharmaceuticals company Biocon Biologics. True North and Tata Capital Growth Fund invested in the company earlier this year. The

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Nexus VP Leads USD2.15m Seed Round for Singaporean Sales Productivity Platform Nektar

Nexus Venture Partners led a USD2.15m seed round for Singapore-based sales productivity platform Nektar.ai, with participation from Insignia Venture Partners, Arka Venture Labs, Better Capital, and Vietnam Investments Group. Read

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Armstrong Asset Management to Exit Vietnamese Wind Farm Dam Nai Wind Power to SN Power AS

SN Power AS has signed a binding agreement to acquire Vietnam-based wind farm Dam Nai Wind Power from Armstrong South East Asia Clean Energy Fund, a fund managed by Armstrong

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SoftBank Vision Fund 2 Leads USD180m Series C for Chinese Edtech VIPThink

SoftBank Vision Fund 2 led a USD180m Series C for Chinese edtech VIPThink, with participation from Sinovation Ventures, Alpha Animation CEO Dongqing Cai’s family foundation, private educational services provider New

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Saudi Arabia’s PIF to Invest USD1.3b for 2.04% Stake in Reliance Industries’ Retail Unit

Saudi Arabia’s Public Investment Fund has agreed to invest INR95.55b (approximately USD1.3b) in Reliance Retail Ventures, the retail unit of Indian conglomerate Reliance Industries, for a 2.04% stake. Read more

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Walmart-Backed Flipkart and Accel Invest Undisclosed Series F for Indian Fashion Brand House USPL

Walmart-backed Flipkart and existing investor Accel Partners have invested an undisclosed Series F for India-based fashion brand house Universal Sportsbiz (USPL). Read more

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Hony Capital Reaches USD130m Final Close for Debut China VC Fund

Hony Capital has reached a USD130m final close for Hony Ventures Fund I, a vehicle targeting early-stage investments in the consumer, internet, and digital enterprise service sectors in China. Read

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Openspace and Mandiri Capital Lead Undisclosed Series A for Indonesian Omnichannel Sales SaaS Platform iSeller

Openspace Ventures and Mandiri Capital led an undisclosed Series A for Indonesia-based omnichannel sales SaaS platform iSeller. Read more

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NIIF Acquires Two Toll Road Projects in India from Essel

The National Investment and Infrastructure Fund (NIIF), through its NIIF Master Fund, has acquired two toll road projects from Essel Group for an estimated INR15-18b (approximately USD201-241m). Read more

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Monk’s Hill Leads USD6m Series A for Indonesian Logistics Platform Logisly

Monk’s Hill led a USD6m Series A for Logisly, an Indonesia-based trucking logistics platform. Read more

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KKR Invests in Philippines’ Telco Tower Builder Pinnacle Towers

KKR has made an undisclosed investment in Philippines-based telecom tower builder and operator Pinnacle Towers through its infrastructure fund. Read more

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Chiratae Leads USD7m Series A for US- and India-Based Marketing Cloud Startup Pyxis

Chiratae Ventures led a USD7m Series A for US- and India-based AI-enabled marketing cloud startup Pyxis, with participation from Pi Ventures and follow-on from Exfinity Venture Partners. Read more

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Chiratae and Eight Roads Lead ~USD10m Series C for Indian Consumer Lending Platform EarlySalary

Existing investors Chiratae Ventures and Eight Roads Ventures led a INR750m (approximately USD10m) Series C for India-based consumer lending platform EarlySalary. Eight Roads and Chiratae invested INR375m (approximately USD5m) each,

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Sequoia Capital and Faering Lead USD55m Investment in Indian Non-Banking Financial Company Finova

Sequoia Capital India and Faering Capital led a USD55m investment in India-based non-banking financial company Finova Capital. Sequoia and Faering provided USD35m, while the remaining USD20m was supplied by other

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KKR Launches Renewable Energy Platform in India

KKR has launched Virescent Infrastructure, a newly created platform to acquire renewable energy assets in India. Virescent will focus on investment opportunities that have stable cash flows stemming from long-term

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Ascent, Investcorp, Investment Corporation of Dubai, DFC, and Allana Group Lead USD121m Series C for Indian E-Commerce Platform FreshToHome

Ascent Capital, Investcorp, the Investment Corporation of Dubai, DFC, and Allana Group led a USD121m Series C for fresh seafood and meat e-commerce platform FreshToHome. Iron Pillar, which led the

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TPG Invests USD221.7m in South Korea’s KakaoBank

TPG invested USD221.7m in South Korea-based Kakao Bank through subscription of new shares.The deal reportedly values the internet bank arm of Kakao Corp at an estimated USD8.3b. Read more

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YF Capital Leads USD315m Series E for Chinese Industrial Products Marketplace ZKH

YF Capital led a USD315m Series E for ZKH Industrial Supply, a China-based distribution platform for industrial products, with participation from China Structural Reform Fund, CIC Capital, and two funds

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Jungle Ventures Leads USD10m Series B for Indian Workforce Management Platform Betterplace

Jungle Ventures led a USD10m Series B for India-based workforce management platform Betterplace, with follow-on from Unitus Ventures, 3one4 Capital, and Venture Highway. Read more

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Warburg Pincus Partially Exits Philippines’ Broadband Operator Converge

Warburg Pincus has partially exited Converge ICT Solutions, a Philippines-based broadband operator, via the company’s USD600m IPO on the Philippine Stock Exchange. Warburg Pincus maintains a 13.8% stake. Read more

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Genesia Ventures Reaches USD75m Final Close for Japan and Southeast Asia VC Fund

Genesia Ventures reached a USD75m final close for its Genesia Venture Fund II to invest in Japan and Southeast Asia-based companies covering the digital transformation, new economy, as well as

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Baring PE Asia Sells 6.3% Stake in India’s Coforge for USD119m via Open Market Transactions

Baring PE Asia exited a 6.3% stake in India’s Coforge (previously known as NIIT Technologies) for INR8.78b (~USD119m) via open market transactions. Read more

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Tencent and DST Global Lead USD2.2b Series G for Chinese Edtech Yuanfudao

Tencent and DST Global led a USD2.2b Series G for China-based edtech Yuanfudao, with participation from Hillhouse Capital, Boyu Capital, IDG Capital, GIC Private, Temasek Holdings, Trustbridge Partners, CPE, DCP

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Legend Capital Reaches USD500m Final Close for China VC Fund

Legend Capital has reached a USD500m final close for LC Fund VIII, a USD-denominated VC fund targeting investments in the TMT and consumer services sectors in China. Read more

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SAIF Partners Reaches USD400m Final Close for India VC Fund, Rebrands as Elevation Capital

SAIF Partners has reached a USD400m final close for SAIF Partners India VII, an India-focused vehicle targeting seed-to-growth stage investments in IT, financial services, consumer products and services, and mobile.

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Keppel Capital Reaches USD295m First Close for Alpha Asia Macro Trends Fund IV

Keppel Capital has reached a USD295m first close for Alpha Asia Macro Trends Fund IV. The vehicle, which targets USD1b, will invest in offices, business parks, logistics facilities, retail, and

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OTPP Leads USD360m Investment in Singaporean Data Center Developer Princeton Digital Group

Ontario Teachers’ Pension Plan Board led a USD360m investment in Singapore-based infrastructure and data center developer Princeton Digital Group, with follow-on from Warburg Pincus. Read more

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Edelweiss Reaches USD900m Final Close for Special Opportunities Fund III

Edelweiss Alternative Asset Advisors has reached a USD900m final close for Edelweiss Special Opportunities Fund III, a vehicle focused on providing structured credit to mid-market companies in India. Read more

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I Squared Capital-Backed Cube Highways Acquires Nine Highways in India from NHAI for USD684m

Cube Highways, a portfolio company of I Squared Capital through its ISQ Global Infrastructure Fund II, has acquired nine highways from the National Highways Authority of India (NHAI) for INR50.1b

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Proterra-Led Consortium and Eat Just Invest USD120m in Singaporean Plant Protein Facility

A consortium of investors led by Proterra Investment Partners Asia has partnered with US plant-based food startup Eat Just to invest USD120m to launch Eat Just’s first Asia-based protein facility.

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Eat Just and Proterra Investment Partners Invest USD120m in Singapore-Based Plant Protein Facility

Eat Just, the US-based plant-based food startup, is partnering with agtech-focused PE firm Proterra Investment Partners Asia to launch its first Asia-based protein facility. Eat Just Asia will focus on

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Sequoia India and Flourish Ventures Lead USD22.5m Series A for Bangladeshi B2B Platform ShopUP

Sequoia Capital India and Flourish Ventures led a USD22.5m Series A for ShopUp, a Bangladesh-based B2B platform for MSMEs, with participation from Speedinvest, Veon Ventures, and Lonsdale Capital Singapore. Read

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