Ka Kay Lum
The work currently being delivered at its operations centre in Malaysia will gradually move to other locations.
Alibaba-backed e-commerce platform Lazada has announced former Taobao executive Leo Chow as the new CEO of its Malaysian operations.
The Hong Kong-based firm closed PAG Asia III at $6 billion in November last year.
The digital classifieds operator also intends to go slow on making new investments, given the current market conditions.
The financing was provided by InfraRed NF and Firewave Management Limited, an indirect wholly owned subsidiary of Singapore-listed Metro Holdings Limited.
The round was joined by Sequoia Capital, Temasek, Burda, Sofina and EDBI.
The report proposed eight recommendations to the SC which include the restructuring of existing public VCs to be more commercially-driven.
The round was led by Vision Knight Capital and joined by Kinzon Capital, Cathay Capital, Greenwoods Investment and Yunmu Capital.
Shanghai-based ClearVue Capital targets to raise $600 million for its third fund.
2019 will be TPG’s 25th year investing in Asia and the company has so far deployed 40% of the latest fund across 12 companies.