Author: Deal Street Asia Online News

Indian VC firm A91 Partners secures final close of second fund at $525m: Report

Venture capital firm A91 Partners, floated by former Sequoia Capital executives, has reportedly reached the final close of its second fund by garnering $525 million in capital commitments. The sponsors or limited partners in the fund include the Canada Pension Plan Investment Board and financial services major Allianz group, The Economic Times reported. The firm… Continue reading Indian VC firm A91 Partners secures final close of second fund at $525m: Report

LAV leads $50m Series B funding in Chinese drug maker Link Pharmaceuticals

Clinical stage drug maker Lynk Pharmaceuticals Co. has completed a Series B round of financing, raising as much as $50 million, led by the Shanghai-based venture capital firm Lilly Asia Ventures (LAV), the investor announced on Friday.  New investors New Alliance Capital and Hangzhou Heda Industry Fund participated in the round, while returning investors Legend… Continue reading LAV leads $50m Series B funding in Chinese drug maker Link Pharmaceuticals

PE firm Everstone prepares to exit India’s Sahyadri Hospitals

Private equity firm Everstone has initiated the process to exit Sahyadri Hospitals two years after backing the institution. It is targeting an internal rate of return (IRR) of 50-60%. Private equity and venture capital firms typically look at a 5-6 year investment horizon and target an IRR of 20-30%. Seven to eight investors have shown… Continue reading PE firm Everstone prepares to exit India’s Sahyadri Hospitals

Asia Digest: Australia-listed Appen buys SG’s Quadrant; PEP invites bids for Intellihub …

ASX-listed data company Appen announced that it has acquired Singapore-based mobile-location data firm Quadrant, while Australia-based Pacific Equity Partners (PEP) has launched bids for Intellihub with a deadline of September 27. Appen buys Quadrant in cash and shares ASX-listed data company Appen has acquired the Singapore-based mobile-location data firm Quadrant. Appen will make an upfront… Continue reading Asia Digest: Australia-listed Appen buys SG’s Quadrant; PEP invites bids for Intellihub …

New York City approves licences, price controls for food-delivery apps

The New York City Council on Thursday approved legislation to license food-delivery apps including Grubhub, DoorDash Inc and Uber Eats and to permanently cap commissions they can charge restaurants. The companies say the price controls are unfair and vowed to fight them. “This permanent price control is flagrantly unconstitutional and will hurt local restaurants, delivery workers and diners across… Continue reading New York City approves licences, price controls for food-delivery apps

China Deal Review: Unfazed by regulatory action, PE-VC funding rises 11.6% to $7b in July …

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading China Deal Review: Unfazed by regulatory action, PE-VC funding rises 11.6% to $7b in July …

KKR to make first infrastructure investment in NZ, to acquire Ritchies Transport

Global asset manager KKR will acquire New Zealand-based Ritchies Transport Limited as its first infrastructure investment in New Zealand, according to an announcement. KKR is making the investment from its KKR Asia Pacific Infrastructure Fund. Other details of the transaction were not disclosed. The firm said the Ritchie family, which founded Ritchies in 1935, will… Continue reading KKR to make first infrastructure investment in NZ, to acquire Ritchies Transport

LACERS commits to invest up to $50m in Orchid Asia’s $1.6b eighth fund

FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo Premium The Los Angeles City Employees’ Retirement System (LACERS) has committed to invest up to $50 million in China-focused private equity fund Orchid Asia VIII, according to the pension’s board meeting document on August 24. Go to Source

Photo and video editing app Picsart turns unicorn after SoftBank-led $130m funding …

Picsart, a photo and video editing app, was valued at over $1 billion on Thursday after SoftBank Vision Fund 2 led a $130 million funding round in the San Francisco-based company. Venture capital firms GSquared and Tribe Capital also took part in the Series C round, along with existing investors Sequoia Capital, DCM, Graph and… Continue reading Photo and video editing app Picsart turns unicorn after SoftBank-led $130m funding …