G M Omar Faruque Chowdhury FCMA

Alternative Investments

The National Investment and Infrastructure Fund Ltd has for MEF IV. The vehicle will make growth equity marked the final close of its NIIF Master Fund at $2.34 investments in Vietnamese companies operating in billion (Rs 17,293 crore) after receiving commitments the retail, education, restaurants, consumer services, from a fifth set of Limited Partners. The firm said health care, and fast-moving consumer goods sectors. that Canadian Public Sector Pension TPG’s The Rise Fund led an USD210m Series D for Investment Board (PSP Investments), US International Meishubao, a Chinese online art education platform, with Development Finance Corporation (DFC), and existing participation from Fortune Capital, Winsdom Capital, investor Axis Bank, signed agreements for investments SAIF Partners, Bojia Capital, and Chuangzhi Capital. of around $107 million (about Rs 790 crore) with OP Finnfund Global Impact Fund I has reached a EUR135m NIIF Master Fund. International investors have rights (approximately USD166m) second close. The impact to co-invest an additional $3 billion alongside the fund. vehicle, which targets investments in emerging markets Alibaba, Tiger Global, SoftBank Vision Fund, Sequoia across renewable energy, financial institutions, and Capital , and FountainVest Partners have invested sustainable agriculture, reached a EUR76m (~USD93.5m) an USD1.6b Series E for China-based edtech Zuoyebang first close in June 2020. The second round of funding ended Existing investors Sequoia Capital China led an in December 2020 and raised EUR58m (~USD71.5m). USD515m Series E for -based on-demand The Carlyle Group led an USD123m Series D for delivery company Lalamove, with follow-on from China-based biotech firm Abbisko, with participation Shunwei Capital Partners and Hillhouse Capital. from Warburg Pincus, OrbiMed, and Lake Bleu Trustbridge Partners led a USD500m funding Capital. Janchor Partners, Sage Partners, SHC, and round for China-based healthtech DXY, with Greater Bay Area Homeland Development Fund also participation from Tencent and GL Ventures. participated in the round, and existing investors Lilly Asia Oceanpine has reached an USD400m final close for its Ventures, Temasek Holdings, Qiming Venture Partners, second fund targeting investments in tech and health care. Hankang Capital, and CICC Capital followed on. Ontario Teachers’ Pension Plan (OTTP) has agreed to 5Y Capital (formerly Morningside Venture Capital), invest KRW300b (approximately USD275m) in South Hillhouse Capital’s GL Ventures, and Capital Today Korea-based fried chicken restaurant chain BHC Group, led the USD150m first tranche of a Series C for facilitating a full exit for Elevation Equity Partners. China-based AI chip designer Horizon Robotics, with participation from Guotai Junan International and KTB. CITIC PE, CICC Capital, and Primavera Capital led a CNY1.8b (approximately USD279m) Series Everstone Capital has agreed to sell India-based C for China-based AI chip designer Enflame bread and bakery brand Modern Foods to Mexican Technology, with follow-on from Tencent Holdings, bakery giant Grupo Bimbo for an undisclosed amount. Summitview Capital, and Redpoint Ventures China. CITIC Capital has invested an undisclosed amount in Max- Mekong Capital has reached an USD246m final close Inf, a China-based provider of baby travel safety systems.

THE COST AND MANAGEMENT 58 ISSN 1817-5090, VOLUME-48, NUMBER-06, NOVEMBER-DECEMBER 2020