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BOCOM International, a unit of Hong Kong-listed Bank of Communications, and venture capital firm Cyberport Macro Fund (CMF). Tongcheng Life, a Chinese online community group-buying platform backed by Bertelsmann Asia Investments, has filed for bankruptcy just three years after its inception in August 2018. The startup, which secured an investment of $200 million last June, failed to stay afloat in an increasingly competitive market fuelled by heavy subsidies. All the deals announced in the region are captured in our deal monitor. Fundraising by investors continues unabated Malaysian private equity firm Creador has made the first close of its fifth fund at $500 million, DealStreetAsia has learnt. The fund is on track to make its final close by the end of this year with a corpus of $680 million. ....
Vietnam-focused PE firm Mekong Capital invests in cosmetics retailer HSV Group dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
Editor’s take: The week that was May 3-8 May 9, 2021 As I curate the list of significant developments that unfolded this week, I’ll begin with the fundraising activity in Southeast Asia. While the number of firms or GPs raising capital has been a tad lower when compared to the other weeks, their commitment goes on to signal how LPs or funds-of-funds are increasingly betting big on prominent themes, keeping consumer trends and the long-term growth story in mind. Temasek-backed Big Idea Ventureshit the $50 million final close of its debut alternative protein fund after raising capital from investors such as Le Groupe Bel, the French cheese manufacturer and distributor behind The Laughing Cow; AAK, a Sweden-based global producer of vegetable oil and fats; and Meiji Co, a Japanese food company. ....
Can Private Equity Win With Fashion E-Commerce? businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
L Catterton invests in Indonesian beauty tech platform Social Bella Photo: Pixabay May 5, 2021 Indonesian beauty and personal care e-commerce company Social Bella International (Sociolla) has raised Rp 818 billion ($56.6 million) in fresh funding led by consumer-focused private equity firm L Catterton, according to an announcement on Wednesday. The deal marks L Catterton’s first investment in Indonesia Southeast Asia’s largest economy. The private equity major will join Social Bella’s board, according to the statement. DealStreetAsia had reported in March that Social Bella was in talks with investors to raise around $75 million, bringing the total funding in the company to around $200 million. ....