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Actis Acquires Two Indian Solar Assets from Acme

Actis has acquired two solar projects in India totaling 400MW from Acme Solar Holdings for an undisclosed amount. The acquisition was completed through Actis Long Life Infrastructure Fund. Read more

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Ping An Capital and Riverhead Capital Lead USD186m Series B for Chinese Startup Lepu Biotech

Ping An Capital and Riverhead Capital led a CNY1.291b (approximately USD186m) Series B for China-based biotech startup Lepu Biotech, with participation from SDIC Unity Capital, Haitong Innovation Capital Management, and

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Byju’s Acquires Indian Edtech WhiteHat for USD300m, Nexus VP, Omidyar, and Owl Ventures Exit

Byju’s, an India-based edtech backed by General Atlantic, Tiger Global Management, Tencent, and Bond Capital, has acquired India-based code training platform WhiteHat Jr for USD300m, facilitating an exit for WhiteHat-backers

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Intudo Ventures Leads USD5m Series A for Indonesian Eatery Solutions Provider Wahyoo

Intudo Ventures led a USD5m Series A for Indonesia-based eatery tech Wahyoo, which digitizes and automates operations for food stalls, with participation from Kinesys Group, Amatil X, Arkblu Capital, Indogen

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Gobi Partners-Led Consortium to Acquire E-Commerce Arm of Singapore’s Synagie for USD44.8m

A consortium of investors led by Meranti ASEAN Growth Fund, a fund managed by Gobi Partners, has agreed to acquire the e-commerce business of Singapore-based Synagie for USD44.8m. The consortium

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Morgan Stanley Reaches Final Close for India Infrastructure Fund

Morgan Stanley has reached an undisclosed final close for its North Haven India Infrastructure Fund, which reportedly had an initial target of USD750m and plans to invest in roads, airports,

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Tencent and Capital Today Lead USD360m Series C for Chinese Fresh Produce Retailer Yipin Shengxian

Tencent and Capital Today led a CNY2.5b (approximately USD360m) Series C for China-based fresh produce retailer Yipin Shengxian, with participation from existing investor Eastern Bell Venture Capital. Read more

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Navis Exits Stake in Malaysian ICT Company Strateq via Sale to StarHub for ~USD31m

Navis Capital Partners has exited its controlling stake in Malaysia-based information and communications technology (ICT) company Strateq via a sale to a subsidiary of Singapore-listed StarHub for MYR130m (approximately USD31m).

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Intuit Acquires Singapore’s TradeGecko for Reported USD80m, Openspace, Wavemaker, and Others Exit

US-based financial software company Intuit has agreed to acquire TradeGecko, a Singapore-based inventory management software platform, for a reported USD80m. The transaction has facilitated an exit for existing shareholders Openspace

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STIC Invests USD200m in Singapore’s Ridesharing Company Grab

South Korea-based PE firm STIC Investments has invested USD200m in Grab, a Singapore-based ride-hailing transport services company reportedly valued at USD14.3b and backed by SoftBank. Read more

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New York State Common Commits USD300m to KKR Asian Fund IV

The New York State Common Retirement Fund has committed USD300m to KKR Asia Fund IV. The vehicle, which targets USD12.5b, will make pan-Asia investments with a focus on control buyout

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Tata Capital Growth Fund to Invest USD30m in Indian Biopharma Biocon Biologics for 0.85% Stake

Tata Capital Growth Fund has agreed to invest INR2.25b (approximately USD30m) in India-based biopharmaceuticals company Biocon Biologics for a 0.85% stake in a deal that reportedly values the business at

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Warburg Partially Exits Stake in India’s AU Small Finance Bank for USD69m

Warburg Pincus has divested a 2.2% stake in India-based AU Small Finance Bank for INR5.17b (approximately USD69m) through an open market transaction. Buyers include Abu Dhabi Investment Authority, Reliance Mutual

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Navis Acquires Cambodian International School CIA First

Navis Capital Partners has acquired Cambodia-based CIA First International School for an undisclosed amount. Read more

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Advent to Acquire Controlling Stake in Indian Pharmaceutical Company RA Chem

Advent International has agreed to acquire a controlling stake in India-based pharmaceutical company RA Chem Pharma from Micro Labs for an undisclosed amount. Read more

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Altos Ventures, IMM Investment, and Axiom Asia Invest USD36m in South Korean Travel App MyRealTrip

Altos Ventures, IMM Investment, and Axiom Asia have invested KRW43.2b (approximately USD36m) in MyRealTrip, a South Korea-based travel app that positions itself as a one-stop-shop for travel bookings. Read more

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Foundation Holdings Leads USD46.8m Series D for Indian Edtech Toppr

Foundation Holdings led a INR3.5b (approximately USD46.8m) Series D for India-based edtech Toppr, with participation from existing investor Kaizen Private Equity. Read more

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Permira Acquires 60% Stake in EF Education First’s China and Indonesia Unit

Permira has acquired a 60% stake in the China- and Indonesia-focused EF Kids & Teens unit of Switzerland-headquartered education company EF Education First. The deal values EF Kids & Teens

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EV Growth and Others Invest USD250m in Indonesian Travel Aggregator Traveloka

Existing backers including EV Growth, a joint venture between Sinar Mas and East Ventures, and unnamed investors have invested USD250m in Indonesia-based online travel platform Traveloka. Read more

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Sherpa Healthcare Partners Reaches Final Close for Debut US-Denominated China Fund

China-based Sherpa Healthcare Partners has reached a final close for US-denominated Sherpa Healthcare Fund I. The vehicle, which targeted USD200m, was oversubscribed and will invest in biopharma, gene technology, medtech,

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Square Peg Leads USD16m Series C for Singaporean Digital Wealth Manager StashAway

Square Peg led a USD16m Series C for Singapore-based digital wealth management platform StashAway, with participation from Burda Principal Investments and Eight Roads Ventures. Read more

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KKR Leads USD800m Series C+ for Chinese Grocery E-Commerce Platform Xingsheng

KKR led a USD800m Series C+ for China-based grocery e-commerce platform Xingsheng, with participation from Sequoia Capital China and China Renaissance’s Huaxing Growth Capital. Read more

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Warburg Leads USD171m Series B for Chinese Drug Developer Haihe Biopharma

Warburg Pincus led a USD171m Series B for China-based cancer drug developer Haihe Biopharma, with participation from CMB International, Legend Capital, CICC Capital, Beijing Langzi Asiana Asset Management, Chaos Investment,

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CICC Leads USD495m Investment in Chinese Grocery Delivery Startup MissFresh

CICC Capital led a USD495m investment in China-based grocery delivery startup MissFresh, with participation from ICBC International, Tencent, Abu Dhabi Capital Group, Suzhou Changshu Government Industry Fund, Tiger Global Management,

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KDB, NVESTOR, Intervest, and IMM Investment Lead USD41.8m pre-Series D for South Korean Edtech Riiid

Korea Development Bank (KDB), NVESTOR, Intervest, and existing investor IMM Investment led a USD41.8m pre-Series D for South Korean edtech Riiid, a tutoring platform focused on mobile test prep that

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Vitalbridge Reaches USD150m Final Close for Debut China VC Fund

Chinese VC Vitalbridge Capital has reached a USD150m final close for its first US-denominated fund. The vehicle will invest in innovation-driven startups across the fields of education, health care, and

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CITIC’s CPE Fund and GDS Acquire Chinese Greenfield Data Center Project for USD371m

CITIC Private Equity Funds Management’s CPE Fund and Chinese data center operator GDS Holdings have agreed to jointly acquire BJ13, a greenfield data center project in China, for USD371m. The

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responsAbility Invests USD15m in Indian Renewable Power Services Company Fourth Partner Energy

responsAbility Investments has invested USD15m in Fourth Partner Energy, an India-based renewable power services company focused on building and financing solar rooftop projects. This is responsAbility’s third investment in the

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OMERS Acquires Additional 7% Stake in Warburg-Backed ESR at Reported USD490m

Ontario Municipal Employees’ Retirement System (OMERS) has acquired an additional 7% stake in ESR Cayman, a Hong Kong-based logistics real estate platform backed by Warburg Pincus, from WP OCIM One,

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FMO Commits USD10m to Nepal-Focused Dolma Impact Fund II

FMO has committed USD10m to Dolma Impact Fund II, a vehicle managed by Dolma Fund Management. The fund will provide growth capital to SMEs in the health care, renewable energy,

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Fidelity Leads USD97m Series C for Chinese Therapeutics Company Antengene

Fidelity Management & Research Company led a USD97m Series C for China-based oncology-focused therapeutics company Antengene, with participation from Hillhouse Capital and GIC, and follow-on from Qiming Venture Partners and

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Aspex, Coatue, Hillhouse, and Sequoia Invest USD500m Series C+ for Chinese Smart EV Company Xpeng Motors

Aspex Management, Coatue Management, Hillhouse Capital, and Sequoia Capital China have invested a USD500m Series C+ for China-based smart EV company Xpeng Motors. The company closed a USD400m Series C

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Hillhouse, UBS, JPMorgan, and Others Invest USD2.8b in Chinese EV Battery Manufacturer CATL

Hillhouse Capital, UBS, JPMorgan, Goldman Sachs International, Merrill Lynch International, and Honda Motor Company have invested USD2.8b in China-based EV battery manufacturer Contemporary Amperex Technology (CATL) via a private share

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Kotak Special Situations Fund Invests USD66.5m in Indian Building Materials Manufacturer and Retailer Nuvoco

Kotak Special Situations Fund, managed by Kotak Investment Advisors, has invested INR5b (approximately USD66.5m) in India’s Nuvoco, the building materials manufacturer and retail arm of Nirma Group, to finance the

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Coatue Management Leads USD100m Series D for Indian Edtech Vedantu

Coatue Management led a USD100m Series D for India-based edtech Vedantu, with participation from existing investors Tiger Global, GGV Capital, Westbridge, and Omidyar Network. Read more

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Wavemaker Partners Reaches USD111m Final Close for Third Southeast Asia Fund

Wavemaker Partners has reached a USD111m final close for its third Southeast Asia fund, exceeding its initial target of USD100m. The vehicle will invest in early-stage enterprise and deep tech

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Google to Invest USD4.5b in India’s Jio Platforms for 7.7% Stake

Google has agreed to invest USD4.5b in India-based telecommunications and technology company Jio Platforms, a subsidiary of Indian conglomerate Reliance Industries, for a 7.7% stake. Read more

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SFERS Commits USD75m to SSG Secured Lending Opportunities III

San Francisco Employees’ Retirement System has committed USD75m to SSG Secured Lending Opportunities III, a fund managed by Asia-focused credit and special situations investor SSG Capital Management. The vehicle will

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Hillhouse Capital to Invest USD310m in Chinese Drug Maker Joincare via Private Placement

Hillhouse Capital has agreed to invest USD310m in Shanghai-listed drug maker Joincare Pharmaceutical Group Industry through a private placement for an 8% stake. Read more

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Walmart Leads USD1.2b Investment in Indian E-Commerce Company Flipkart

Walmart led a USD1.2b investment in India-based e-commerce company Flipkart, with participation from existing shareholders. Walmart first invested in Flipkart in 2018, when it acquired a 77% stake for USD16b.

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Google to Launch USD10b India Digitization Fund

Google has announced the launch of a INR750b (approximately USD10b) fund to make equity, operational, infrastructure, and ecosystem investments that accelerate the pace of digitization in India. Read more

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Qualcomm Invests USD97m in India’s Jio Platforms for 0.15% Stake

Qualcomm Ventures has agreed to invest INR7.3b (approximately USD97m) in India-based telecommunications and technology company Jio Platforms, a subsidiary of Indian conglomerate Reliance Industries, for a 0.15% stake. Read more

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IFC to Commit USD60m to Mekong Capital’s MEF IV

International Finance Corporation has approved a USD60m commitment to Mekong Capital’s Mekong Enterprise Fund IV. Of the USD60m, USD30m has been allocated to co-investment opportunities. The vehicle, which targets USD250m,

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Hudson Bay Leads USD102.8m Series C for US- and China-Based Biotech Harbour BioMed

Hudson Bay Capital led a USD102.8m Series C for US- and China-based biotech Harbour BioMed, with participation from Orbimed Asia, Country Garden VC, GTJA Investment Group, Octagon Capital, and Sage

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CICC Capital Leads USD129m Series D for Chinese Energy Services Platform Newlink

CICC Capital led a CNY900m (approximately USD129m) Series D for China-based energy services platform Newlink Group, with participation from Xiaomi Corporation and existing investors Joy Capital, Nio Capital, and Korea

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Yingke PE Reaches USD286m Final Close for Latest China Fund

Yingke Private Equity has reached a USD286m final close for its latest CNY-denominated fund. The vehicle will invest in biomedicine, consumer, military and aerospace sectors in China. Read more

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SkyLake to Acquire South Korea’s EV Battery Materials Maker Doosan Solus for Reported USD585m

SkyLake Investment has agreed to acquire Doosan Solus, the EV battery materials maker unit of South Korea-based conglomerate Doosan Group. The company is looking to sell its entire 61% stake

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SoftBank-Backed DCM Reaches USD780m Final Close for Latest China Fund

SoftBank-backed DCM Ventures has reached a USD780m final close for China-focused DCM IX and has secured a further USD100m for DCM A-Fund III. Read more

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Warburg Partially Exits Chinese Reproductive Services Provider Jinxin Fertility for USD194m

Warburg Pincus has partially exited Hong Kong-listed assisted reproductive services provider Jinxin Fertility by selling approximately 5.39% of its 18.39% stake in the company for HKD1.5b (approximately USD194m). Read more

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DEG Provides USD22.5m Loan to Bangladeshi Electrical Device Manufacturer Walton Hi-Tech Industries

DEG has agreed to provide EUR20m (approximately USD22.5m) in financing to Bangladesh-based electrical and electronics device manufacturer Walton Hi-Tech Industries. Read more

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Openspace Ventures Reaches USD90m+ First Close for Third Southeast Asia Fund

Openspace Ventures has reached a USD90m+ first close for its third Southeast Asia-focused fund, which is targeting USD200m. Read more

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Sequoia Leads USD100m Series C for Chinese Storytelling Mobile App Kuaidian

Sequoia Capital China led a USD100m Series C for China-based storytelling mobile app Kuaidian, with participation from existing investors GGV Capital and Morningside Venture Capital. Read more

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ADB Secures USD4b via 3-Year Bond Issuance to Support Emerging Economies in Asia

The Asian Development Bank (ADB) has secured USD4b through the sale of a 3-year global bond, the proceeds of which will be used in assisting countries affected by the pandemic

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