Cosco Shipping provided $800m for Cofco subsidiary Cofco Fortune while Avary Holding invested $136m in Interconnected Semiconductor Technology.

A man and a woman holding a test tube

Funds

Imbiba, a UK-based venture capital firm targeting lifestyle and entertainment investments, reached the £70m ($86m) first close of a £90m fund with backing from limited partners including Asahi UK, part of beverage producer Asahi Group. British Business Bank’s Enterprise Capital Funds scheme also contributed to the close.

India-based VC firm Z3Partners has raised roughly $67m for the final close of its Z3 Partners Tech Fund, having secured capital from insurer HDFC Life as well as family offices and financial institutions including Small Industries Development Bank of India.

Fubon Life Insurance, the insurance subsidiary of Taiwan-headquartered financial services group Fubon Financial, has put up about NT$1.2bn ($39.5m) for VC firm AppWorks’ fourth fund, Nikkei Asia has reported. The fund is targeting a $360m close by mid-2023, its executive team said.

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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