Asia (LAWFUEL) – DLA Piper today announced it has advised Daiwa Securities SMBC Principal Investments Co. Ltd. (“Daiwa Securities SMBC PI”) and Quantum Leaps Corporation (“Quantum Leaps”) in the formation of a US$ 300 million new growth fund aimed at investing in technology oriented companies with high growth potential in Asia. The deal was led by Koji Ishikawa in DLA Piper’s Tokyo office, supported by Yang Du in Tokyo and Bryant Woo in Shanghai offices.
DLA Piper advised both Daiwa Securities SMBC PI and Quantum Leaps on fund formation, fund structure, documentation and regulatory issues.
The new fund is being established under a joint venture between Daiwa Securities SMBC PI, an integrated financial services provider, and Quantum Leaps, a business production company which focuses on creating new businesses and industries. It will provide risk capital for emerging technology companies in Asian countries including Japan, China and India, focused on helping companies acquire technologies and management skills from Japan while supporting Japanese companies to expand across the region. The fund has a target of a total subscription of JPY 30 billion and scheduled to launch in June 2009.
Koji Ishikawa, Partner of DLA Piper Tokyo office and lead partner of this deal said: “The economic crisis can in fact open up a wealth of opportunities for Asia’s technology sector and stimulate innovation. I think the successful establishment of this fund by strong industry leaders Daiwa Securities SMBC PI and Quantum Leaps is a vote of confidence to the sector as well as Asian business going forward. The fund will be able to tap high quality deals and create new value opportunities for both Japanese and other Asian companies.”
“We continue to advise clients in Asia on a broad spectrum of financing as they tackle ever greater challenges but also opportunities in a changing economic landscape,” added Alastair Da Costa, Managing Director of DLA Piper Asia. “We have a strong track record advising numerous leading international and Japanese financial institutions and different types of borrowers across key industries and across multiple jurisdictions. We are fully committed to help clients such as Daiwa and Quantum Leaps boost their competitive edge by leveraging our depth of experience, global resources, and practice capabilities across the region and internationally.”