By Juliet Shwe Gaung
Cambodia-based internet startup Groupin is the holding company of e-commerce platform Little Fashion and digital media firm Mediaload.
The latest round comes shortly after Yijiupi closed its $200 million Series D round five months ago, which was led by Meituan and Tencent.
Firms including Blackstone Group LP and GAW Capital Advisors are in talks with banks in Asia for loan deals of more than $2 billion so far this year.
CLSA Capital said the transaction will close in early April 2019.
Ekuinas has an option to up its stake up to 54 per cent.
Gaw-led groups snapped up properties worth HK$35 billion ($4.5 billion) in Hong Kong in less than two years.
An uncertain macro-economic environment, rising interest rates, and growing chasm between large and smaller funds pose significant hurdles to dealmaking.
As part of the transaction, Warburg Pincus plans to infuse Rs 300 crore primary equity capital into Avanse to fund its future growth.
The PE firm will reportedly pay around $1 billion for Ayumi, including debt.
EQT closed its latest Asian mid-market fund at $800 million last May, which will make control or co-control investments in mid-market companies in Greater China and Southeast Asia.