iCarsClub gets $60m Series B funds for China arm

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Singapore’s iCarsClub has raised $60 million, in Series B round of funding, for its China venture – PPzuche, a Chinese peer-to-peer (P2P) car-rental – from IDG Capital Partners & MorningSide Ventures. Source Code Capital, Sequoia Capital, Future Capital and Crystal Stream also participated in this round of funding, taking the… Read more »

GIC-led investors to buy IndCor for $8 billion

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Blackstone Group LP is planning to sell IndCor Properties Inc to a group of investors led by Singapore’s sovereign wealth fund GIC Private Ltd, for over $8 billion, according to a report in Bloomberg. IndCor Properties Inc owns industrial real estate assets (about 11 million square meters of warehouses) in… Read more »


Lombard acquires minority stake in Viet Uc Seafood

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Lombard’s PE fund has picked up a minority stake in Vietnam-based sea food processor Viet Uc Seafood, for an undisclosed amount. A company representative for Viet Uc Seafood, one of the largest shrimp seed producers in the country, confirmed the development to DEALSTREETASIA. This investment will be used to improve the… Read more »


Mekong Capital set to close fourth Vietnam fund

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Mekong Capital, a Vietnam-focused Private Equity firm, specializing in consumer driven sectors such as retail, restaurants, consumer products and distribution, is working on a $150 million fund , its fourth in the country, and may close this round soon, if it can raise between $80-$100 million, DEALSTREETASIA has learnt. Its… Read more »


CashCashPinoy raises $2m from Hera Capital

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CashCashPinoy, a mobile e-commerce platform in the Philippines today said it secured a $2 million investment in a Series B round from Singapore-based private equity firm Hera Capital. Frederic Levy, Founder and CEO of the daily deals site said the funding and the expertise from Hera Capital would facilitate business… Read more »


SCPE buys 49% in Omni Capital, to form JV

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Standard Chartered PE (SCPE), the investment arm of the British Bank, will inject up to $50 million, into a company that is wholly owned by TT International, a Singapore based player that undertakes global trading of consumer electronics. SPCE will invest in TT International company Omni Capital through a share… Read more »


PE firm Creador exits Repco partially

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Malaysia-based private equity firm Creador has partially exited from Repco Home Finance, an India-based firm, it had invested in  2013. Creador generated a three-fold return on investment. Creador exited Repco Home Finance through a bulk transaction on the Bombay Stock Exchange, selling 325,000 shares at INR 470 per share. The sale… Read more »


CIMB buys 10% in Indonesia’s 7-Eleven operator

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CIMB Private Equity Sdn Bhd, the wholly-owned investment arm of Malaysia’s CIMB Group, will buy a 10% stake, valued at $25 million, in PT Modern Internasional Tbk, the parent firm of 7-Eleven convenience stores in Indonesia, the company said. The deal, that is slated to close early November, will see… Read more »


Temasek’s deal spree in October – 4 and counting

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Singapore’s Temasek Holdings has closed a slew of transactions across the globe this month, even as it celebrates its 40th anniversary, and its appetite for deal making is far from finished India appears to the flavor of the month for the city-state’s sovereign wealth fund, as it is reported to… Read more »


Navis Capital exits Trio for $220-m

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Kuala Lumpur-based private equity company Navis Capital Partners has sold its 100% stake in Trio Engineered Products, to Weir group PLC, at an enterprise valuation of $220 million. Trio, which is expected to generate about $120 million in revenues in 2014, is a Chinese-American manufacturer of crushing and separation equipment… Read more »