Asia

Private equity and venture capital news from Asia

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• Temasek appoints two new presidents in overhaul of top brass 19 Aug 2010. Source: AltAssets. Singapore sovereign wealth fund Temasek Holdings, manager of an estimated $119bn portfolio, has made a raft of recent high-profile appointments to hone its capabilities as an investment house.

• Indian anti-virus software firm Quick Heal sees INR600m 18 Aug 2010. Source: AltAssets. Sequoia Capital’s India arm has invested INR600m ($12.9m) in IT security company Quick Heal Technologies to help it develop its products, expand its distribution network and fund future acquisitions.

• Blackstone has $1bn for India’s energy sector 18 Aug 2010. Source: AltAssets. US private equity firm Blackstone has an appetite to invest up to $1bn in India’s energy sector over the next three to five years, Reuters reports India head Akhil Gupta as saying at a conference.

• Macquarie India infra fund invests $300m in Viom Networks 12 Aug 2010. Source: AltAssets. Macquarie SBI Infrastructure Fund (MSIF), a joint venture between Australian investment bank Macquarie and the State Bank of India, has acquired an 11 per cent stake in mobile tower firm Viom Networks for INR14bn ($298.9m).

• Navis $100m away from $1.2bn fund close 11 Aug 2010. Source: AltAssets. Malaysian private equity firm Navis Capital Partners is on the verge of closing its sixth fund, Navis Asia Fund VI, on $1.2bn and is already sitting on $1.1bn in commitments, according to a Dow Jones report.

• First Pacific-specific PE fund lands final exit with sale of helicopter business 11 Aug 2010. Source: AltAssets. Pioneering private equity vehicle the Kula Fund, the first to invest specifically in the Pacific islands, has landed its final exit with the sale of Papua New Guinean helicopter support service provider Heli Niugini.

• Murdoch’s News Corp sells Chinese TV channels to PE fund 10 Aug 2010. Source: AltAssets. Magnate Rupert Murdoch looks to be backing out of China with the decision to sell a string of his conglomerate News Corp’s media assets in the country to state-owned private equity fund China Media Capital (CMC).

• Gobi to manage China-Singapore VC fund 09 Aug 2010. Source: AltAssets. Gobi Partners is helping to strengthen China and Singapore’s ties with a new venture capital fund that will invest in start-ups in the digital media and technology sectors in both countries.

• Attero raises $3.3m for Indian e-waste recycling 06 Aug 2010. Source: AltAssets. Attero Recycling, an Indian e-waste recycling start-up, has attracted a $3.3m Series B investment from new backer Granite Hill India Opportunities Fund, and current shareholders IndoUS Venture Partners and Draper Fisher Jurveston.

• China’s answer to YouTube raises $50m 05 Aug 2010. Source: AltAssets. Tudou.com, a Chinese video sharing platform in the vein of YouTube, has raised a further $50m, closing off a Series E funding round that saw Singapore sovereign investor Temasek put up $35m.

• Aureos invests $4m in Malaysian hypermarket chain 05 Aug 2010. Source: AltAssets. Emerging markets private equity specialist Aureos Capital has invested $4.16m in TF Wholesale and Distribution, a hypermarket business on the Malaysian peninsula.

• Emerging markets PE investment returning to health in 2010 04 Aug 2010. Source: AltAssets. Post-crisis private equity investment in emerging markets is climbing its way back to health, with $13bn put into companies for the first half of this year, up 55 per cent on the same period in 2009, according to the Emerging Markets Private Equity Association (EMPEA).

• Silver Lake in second China play with Allyes acquisition 02 Aug 2010. Source: AltAssets. Silver Lake Partners, a private equity outfit that specialises in technology and tech-related investments, has made its second China play, taking a majority stake in internet advertising firm Allyes Online Media.

• Carlyle raises half of 5bn yuan fund 30 Jul 2010. Source: AltAssets. Global buy-out house Carlyle has reached the first close of its maiden yuan-denominated fund, having raised 2.4bn yuan ($354.2m) of its 5bn yuan ($738m) target, and will now start putting the capital to work.

• NSSF primed to make foreign PE investments 29 Jul 2010. Source: AltAssets. National Social Security Fund, China’s 700bn yuan ($103.3bn) national pension fund, will soon begin making investments in private equity overseas, according to Reuters.

• Hong Kong’s SAIF Partners picks up juice company from Danone for €200m 29 Jul 2010. Source: AltAssets. SAIF Partners, a Hong Kong-based private equity firm, has entered an agreement to buy a 22.98 per cent share of juice-maker China Huiyuan Juice from France’s Danone for €200m.

• CDC commits to ex-ICICI Venture chief’s debut fund 28 Jul 2010. Source: AltAssets. CDC, the UK’s development finance fund of funds, has made a $30m commitment to Multiples Private Equity Fund I, an Indian vehicle set up by the former managing director and CEO of ICICI Venture, Renuka Ramnath.

• Terra Firma’s Guy Hands looks to China for partners 28 Jul 2010. Source: AltAssets. Guys Hands, the private equity mogul behind the UK’s Terra Firma who spearheaded the ill-fated buy-out of record label EMI, has said that he expects China to dominate over the coming decades and is seeking Chinese partners.

• Carlyle’s Taiwan cable TV sale switches back on 27 Jul 2010. Source: AltAssets. After hitting a regulatory snag, it looks as though Carlyle may have devised a workaround for the sale of Taiwan’s biggest cable television operator, Kbro, to Taiwan Mobile for more than $1bn, according to reports.

• TLG makes first India play with printer cartridge refill deal 26 Jul 2010. Source: AltAssets. TLG Capital, a UK private equity firm set up last year that invests in frontier markets, has made its fourth deal by taking a 36 per cent stake in India’s largest printer cartridge refilling network, Re-feel.

• Orchid targets $600m with new fund 23 Jul 2010. Source: AltAssets. China-focused private equity firm Orchid Asia Group Management has launched its fifth fund, Orchid Asia V, with a target of $600m.

• BanyanTree wraps up maiden fund with $100m 23 Jul 2010. Source: AltAssets. BanyanTree Capital Advisors, a private equity fund manager based in Mumbai, has reached the final closing of its maiden fund, BanyanTree Growth Capital, having raised “approximately” $100m.

• Evolvence Capital launches third India-focused fund 21 Jul 2010. Source: AltAssets. Dubai alternative investment firm Evolvence Capital has launched its third fund focused on India.