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Sequoia India Leads USD65m Round for Indonesian Digital Investment Platform Bibit

Existing investor Sequoia Capital India led a USD65m round for Indonesia-based digital investment platform Bibit, with participation from Prosus Ventures, Tencent and Harvard Management Company and follow-on from AC Ventures

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L Catterton Invests in Indonesian Beauty E-Commerce Platform Sociolla

L Catterton has made an undisclosed investment in Indonesia-based beauty and personal care e-commerce platform Social Bella International (Sociolla). Read more

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True North Exits Indian Ridesharing Company Meru via ~USD10.2m Sale to Mahindra

True North and others have exited their combined 44.14% stake in India-based ridesharing company Meru Travel Solutions via a sale to automotive giant Mahindra & Mahindra for INR760.3m (~USD10.2m). Mahindra

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Motilal Oswal Invests USD25m in India’s Fincare SFB, True North Partially Exits

Motilal Oswal Private Equity, through its India Business Excellence Fund III, has acquired a minority stake in India-based Fincare Small Finance Bank for USD25m through a secondary deal, facilitating a

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Avataar and Prosus Lead USD75m Series D for Indian E-Commerce Logistics Startup ElasticRun

Existing investors Avataar Ventures and Prosus Ventures led a USD75m Series D for ElasticRun, an India-based startup connecting e-commerce companies to MSMEs in rural areas, with follow-on from Kalaari Ventures.

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IMM PE to Acquire 40% Stake in South Korea’s SK Lubricants for ~USD987m

IMM Private Equity, through IMM Credit Solution, has agreed to acquire a 40% stake in South Korea-based oil and lubricant manufacturer SK Lubricants from South Korean refinery-to-battery maker SK Innovation

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SoftBank Ventures Asia Leads USD28m Series B for Indonesian Social Commerce Startup Super

SoftBank Ventures Asia led a USD28m Series B for Indonesia-based hyperlocal social commerce startup Super, with participation from DST Global and TNB Aura and follow-on from Amasia, Insignia Ventures Partners,

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Temasek Invests USD120m in Indian Edtech UpGrad

Temasek has invested USD120m in UpGrad, an India-based edtech offering online courses in the higher education space. Read more

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CITIC Capital Invests in Chinese Online Beauty Business Services Provider Yifei Group

CITIC Capital has made an undisclosed investment in Yifei Group, a China-based online business service provider in the beauty and personal care sector, via its third CNY-denominated fund. Read more

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GLP Reaches USD900m Final Close for China Logistics Fund

GLP has reached a CNY5.8b (USD900m) final close for its China Income Fund II, a China-focused logistics vehicle. Read more

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Prosus Leads USD190m Investment for Indian Home & Beauty Services Platform Urban Company

Prosus Ventures led a USD190m investment for India-based home and beauty services platform Urban Company, with participation from DF International and Wellington Management, at a reported ~USD2b valuation. Read more

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CDC and AddVentures Lead USD51m Series C for Indian B2B Packaging Materials Marketplace Bizongo

CDC Group and AddVentures led a USD51m Series C comprising a mix of debt and equity for Bizongo, an India-based B2B marketplace for packaging materials, with participation from Schroder Adveq

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Blackstone to Roll Over Stake in India’s Mphasis to New Funds for USD2-2.8b; ADIA, UC & GIC to Co-Invest

Three Blackstone affiliate funds have partnered with Abu Dhabi Investment Authority, UC Investments and GIC to roll over the 55.31% stake in India-based IT outsourcing service provider Mphasis currently held

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Blackstone Reaches USD3.1b First Close for Second Asia PE Fund

Blackstone has reached a USD3.1b first close for Blackstone Capital Partners Asia II, its second Asia-focused PE fund with an initial target of USD6b. Read more

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Novo Tellus Invests USD40m in Indian Engineering and R&D Services Provider Tessolve

Novo Tellus Capital Partners has invested USD40m in Tessolve, an India-based provider of engineering and R&D services to semiconductor companies, at a reported USD100m valuation. Read more

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CPE, Matrix Partners, Hopu Investment, Others Lead USD135m Series D for Cybersecurity Services Provider NextData

CPE, Matrix Partners China, Hopu Investment Management, Tencent and Xiang He Capital led a USD135m Series D for China-based cybersecurity services provider NextData. Tencent and Xiang led the company’s USD73m

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Centurium-Led Consortium Completes USD4.76b Take-Private of China Biologics

A consortium of investors led by Centurium Capital and including CITIC Capital, Hillhouse Capital and Temasek has completed a take-private of China Biologic Products Holdings, a China-based producer of plasma-based

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Tiger Global Leads USD66m Series B for Hong Kong’s AfterShip

Tiger Global Management led a USD66m Series B for AfterShip, a Hong Kong-based package tracking platform, with participation from GL Ventures. Read more

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Astra Leads USD80m Series C for Indonesian Healthtech Halodoc

Indonesia-based conglomerate Astra led a USD80m Series C for Indonesia-based healthtech Halodoc, with participation from Temasek, Novo Holdings and Bangkok Bank and follow-on from Openspace Ventures, UOB Venture Management, Singtel

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Yunfeng Capital Leads USD600m Series C2 for Chinese Digital Supply Chain Provider Xingyun Group

Yunfeng Capital led a USD600m Series C2 for Xingyun Group, a China-based digital supply chain provider for cross-border e-commerce, with participation from Crescent Point and Harvest Fund Management and follow-on

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Sapphire Ventures, Tiger Global and Insight VP Lead USD125m Series G for Indian Subscription Billing Platform Chargebee

Sapphire Ventures and existing investors Tiger Global Management and Insight Venture Partners led a USD125m Series G for US- and India-based subscription billing and revenue management platform Chargebee, with follow-on

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General Motors Leads USD139m Series D for Singaporean EV Battery Maker SolidEnergy Solutions

General Motors led a USD139m Series D for Singapore-based EV battery maker SolidEnergy Solutions, with follow-on from Temasek, SK Inc., Applied Ventures, Vertex Ventures, SAIC Group and Tianqi Lithium. Read

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Macquarie Exits India’s ATC Telecom Infrastructure via ~USD176.6m Buyback

Macquarie Group’s SBI Infrastructure Funds have agreed to exit their 7.91% stake in ATC Telecom Infrastructure, the Indian mobile tower business of American Tower Corporation, through a company buyback for

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KKR and DCP Capital Invest in Chinese D2C Dairy Company Adopt A Cow

KKR and DCP led an undisclosed funding round for Adopt a Cow, a China-based D2C dairy company. Read more

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GIC and Sequoia India Lead USD160m Series E for Indian Fintech Razorpay

Existing investors GIC and Sequoia Capital India led a USD160m Series E for India-based fintech Razorpay, with follow-on from Ribbit Capital and Matrix Partners, at a reported USD3b valuation. Read

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CDPQ Leads USD147m Investment in Indian Cloud Data Protection Company Druva

CDPQ led a USD147m growth round for India-based cloud data protection and management company Druva, with participation from Neuberger Berman, Viking Global Investors and Atreides. CDPQ invested USD100m in the

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CPE Reaches USD1.8b First Close for China PE Fund

CPE has reached a USD1.8b first close for its fourth USD-denominated fund. The vehicle, which has a target of USD3b, will focus on healthcare, consumer and internet, technology and industrial,

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IFC, IFC Emerging Asia Fund and Indigo Partners Invest USD250m in Philippine Low-Cost Airline Cebu Pacific Air

IFC, IFC Emerging Asia Fund and Indigo Partners have invested USD250m in the form of convertible bonds in Philippine-listed low-cost airline Cebu Pacific Air. Read more

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Microsoft, GIC and Emtek Lead USD234m Investment in Indonesian E-Commerce Company Bukalapak

Microsoft, GIC and Indonesia-based media conglomerate Emtek led a USD234m investment in Indonesia-based e-commerce company Bukalapak, with participation from SC Ventures and Naver. Read more

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Legend, DST, Coatue and All Stars Lead USD300m Series B for Chinese Fitness Tech Startup Fiture

Legend Capital, DST Global, Coatue Management and All-Stars Investment led a USD300m Series B for Fiture, a China-based fitness tech startup that develops smart home fitness equipment, with follow-on from

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Chinese Autonomous Driving Tech Company TuSimple Raises USD1.35b on Nasdaq

TuSimple, a China-based developer of autonomous driving technology for trucks, has raised USD1.35b on the Nasdaq at a market capitalization of USD8.5b. Existing backer Sina Corporation sold 6.7 million shares

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Temasek Leads USD200m Series E for China’s Arrail Dental

Temasek led a USD200m Series E for China-based dental services provider Arrail Dental, with participation from OrbiMed, Ward Ferry, Hina Group, Industrial Bank and Mirae Asset Global Investments. Read more

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Tiger Global Leads USD55m Series C2 for Indonesian Edtech Ruangguru

Tiger Global Management led a ~USD55m Series C2 for Indonesia-based edtech Ruangguru, with follow-on from GGV Capital, at a ~USD800m reported valuation. Read more

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DST Global and Sequoia India Lead USD63m Series B for Indonesian Logistics Startup Shipper

DST Global and Sequoia Capital India led a USD63m Series B for Indonesia-based digital logistics startup Shipper, with follow-on from Prosus Ventures, Floodgate, Lightspeed, Insignia Ventures, AC Ventures and Y

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Samurai Incubate Reaches ~USD18.6m Final Close for Africa VC Fund

Japan-based VC Samurai Incubate has reached a JPY2b (~USD18.6m) final close for its Samurai Africa 2nd General Partnership fund. The vehicle will target investments in fintech, insurtech, logistics, healthtech, consumer

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Centurium Capital Leads USD250m Investment in Chinese Coffee Chain Luckin Coffee

Existing investors Centurium Capital and Joy Capital have invested USD240m and USD10m respectively in China-based coffee chain Luckin Coffee. Read more

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Genesis Alternative Reaches USD80m Final Close for Southeast Asia Venture Debt Fund

Genesis Alternative Ventures has reached a USD80m final close for its Genesis Alternative Ventures Fund I (GAVF-I), a venture debt vehicle focused on Southeast Asia. To date, GAVF-I has invested

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SoftBank and Blackrock Lead USD640m Series E for Singaporean Computer Vision Company Trax

SoftBank Vision Fund 2 and existing investor BlackRock led a USD640m Series E for Trax, a Singapore-based computer vision company focused on retail, with participation from OMERS and IGV’s Sony

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Grab to List on Nasdaq Through SPAC Merger with Altimeter

Singapore-based super app Grab is set to list on the Nasdaq through a SPAC merger with Altimeter Capital Management in a deal that could value the startup at ~USD39.6b, with

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Pine Labs Acquires Malaysian E-Commerce Platform Fave for USD45m

Pine Labs has acquired Malaysia-based e-commerce and fintech company Fave for USD45m, facilitating an exit for all existing investors including Sequoia Capital India and SIG Asia Investments. Read more

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Affirma Reaches USD403m First Close for Korea Fund & Invests in T Map Mobility

Affirma Capital has reached a USD403m first close for Ascenta V, its fifth Korea-focused fund. The vehicle will deploy capital in Korea, China, India and other Southeast Asia markets. The

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5Y Capital Reaches Combine USD2b Final Close for USD & CNY Funds

5Y Capital (formerly Morningside Venture Capital) has raised ~USD1.7b for its sixth USD-denominated fund and ~USD290m for its CNY-denominated fund focused on early- and growth-stage investments in China. Read more

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Legend, Lightspeed China and Greater Bay Area Homeland Investments Lead USD100m Series B & B+ for Chinese Pharma StoneWise

StoneWise, a China-based pharmaceutical company that uses AI to accelerate drug discovery, has raised an aggregate USD100m in funding through its Series B and B+ rounds. Legend Capital led the

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Tiger Global Leads USD100m Series D for Indian Social Commerce Platform DealShare

Tiger Global Management led a USD100m Series D for DealShare, an India-based e-commerce platform for middle- and lower-income consumers. Read more

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BPEA to Invest USD100m in Chinese Drug Developer HutchMed

Baring Private Equity Asia has agreed to invest USD100m in US- and London-listed Hutchison China MediTech (HutchMed), a China-based cancer drug developer. Read more

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Alteria Capital Reaches ~USD179m First Close for Second Venture Debt Fund

Alteria Capital has reached a INR13.75b (~USD178.7m) first close for its second venture debt fund. The vehicle will make early- and growth-stage investments in startups operating in the consumer, technology

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Tiger Global Leads USD502m Series E for Indian Social Media Startup ShareChat

Tiger Global Management led a USD502m Series E for India-based social media startup ShareChat, with participation from Snap and follow-on from Twitter and Lightspeed Venture Partners, at a reported USD2.1b

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Tiger Global Invests USD100m in Indian Enterprise Messaging Solutions Provider Gupshup

Tiger Global Management has invested USD100m in India-based enterprise messaging solutions provider Gupshup at a reported USD1.4b valuation. Read more

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Falcon Edge Leads USD110m Round for Indian SME Lender OfBusiness

Falcon Edge Capital led a USD110m round for India-based SME financing platform OfBusiness, with follow-on from Matrix Partners India, Creation Investments and Norwest Venture Partners. Read more

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DST Global and Coatue Lead USD700m Series D for Chinese Grocery E-Commerce Platform Dingdong Maicai

DST Global and Coatue Management led a USD700m Series D for China-based grocery e-commerce platform Dingdong Maicai, with follow-on from Tiger Global Management, General Atlantic, CMC Capital, Capital Today, Sequoia

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Tiger Global Leads USD83m Series D for Indian Investment App Groww

Tiger Global Management led a USD83m Series D for India-based investment app Groww at a reported USD1b valuation, with follow-on from Sequoia Capital India, Ribbit Capital, YC Continuity and Proptel

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TPG Growth and Prosus Ventures Lead USD350m Series E for Indian Online Pharmacy PharmEasy

TPG Growth and Prosus Ventures led a USD350m Series E for India-based online pharmacy PharmEasy, with follow-on from Temasek, CDPQ, LGT Lightrock, Eight Roads and Think Investments. Read more

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Lakeshore Capital Reaches USD150m Final Close for Thai Fund

Lakeshore Capital has reached a USD150m final close for its second fund targeting investments in SMEs in Thailand. Read more

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