The State Bank of India is reportedly planning to establish a 50 billion rupees (US$1 billion) infrastructure fund with the Gujarat government. Earlier, SBI teamed up with Australia’s Macquarie Group Ltd. to raise the Macquarie India Infrastructure Opportunities Fund that has a target fund size of between US$1 billion to US$1.5 billion.(India)

China Kinwa High Technology Co. Ltd. announced an allocation of 75 million yuan (US$10.97 million) to set up Hangzhou Internet Venture Capital Co. Ltd., its joint venture with Hangzhou Hi-Tech Venture Capital Co. Ltd. and Hangzhou Hi-Tech Venture Capital Management Co. Ltd. (People’s Republic of China)

Jacob Ballas Capital India Private Limited (‘Jacob Ballas’) announced the final closing of its third private equity fund, NYLIM Jacob Ballas India Fund III, LLC, at US$440 million. New York Life Insurance Co. is the anchor investor of this fund.
       Following the final closing of this fund, Jacob Ballas’ private equity pool will sit at over US$600 million. (India)

Aditya Birla Group announced the launch of a private equity fund with a target size of US$250 million. It will commit US$100 million to Aditya Birla Private Equity Fund. (India)

Intel Capital announced three investments in India aggregating to US$23 million. The recipients of the funds are One97 Communications Pvt. Ltd., IndiaMART.com, and Global Talent Track.
       One97 Communications is the country’s largest, privately-owned mobile value-added services provider; IndiaMART.com is India’s largest online B2B marketplace; and Global Talent is a vocational institute. (India)

JAFCO Asia and Sequoia Capital India have led the second round of financing for ApnaPaisa Pvt. Ltd. (formerly Apnaloan.com Services Pvt. Ltd.). The investee had previously raised funds from Sequoia Capital India in October 2007. (India)

Ironbridge Capital and Gresham Private Equity are reportedly preparing a bid for ABC Learning Centres New Zealand (‘ABC New Zealand’), the New Zealand business of the bankrupt ABC Learning Centres Ltd. ABC New Zealand operates 127 centres and currently holds 8% of the national market. (New Zealand)

Hopu Investment Management Co. (‘Hopu Investment’), manager of the US$2.5 billion Hopu Fund, has reportedly acquired approximately 30% of the stake sold by Royal Bank of Scotland Group in Bank of China Ltd. The transaction is estimated to be worth HK$5.54 billion (US$714 million). (People's Republic of China)

Infinity Equity, KPCB China, Japan Asia Investment Co., Ltd.and China Spring Fund recently committed a total of US$13 million to Chiral Quest Inc. (‘Chiral Quest’), which is headquartered in New Jersey, USA and has operations in Jiashan, Zhejiang Province. It assists pharmaceutical and biotechnology firms to develop manufacturing processes for their drugs. (People’s Republic of China)

Beijing-based online information technology product retailer 360buy.com has completed its second round of fundraising, receiving a total of US$21 million from Capital Today, Bull Capital Partners, as well as an individual investor. (People’s Republic of China)

Darby Hana Infrastructure Fund Management Co. Ltd. has acquired a 32.4% stake in the Gangwon Wind Power Co. Ltd. The latter is the developer and operator of South Korea’s largest wind farm. Darby Hana is a 70:30 joint venture between Darby Overseas Investments and South Korea’s Hana Bank. (South Korea)

The Seoul-based Nurien Software has raised an additional US$10 million from a consortium of investors led by Northern Light Venture Capital (‘Northern Light’) and joined by Globespan Capital Partners, New Enterprise Associates and QiMing Venture Partners. (South Korea)

Goldman Sachs has further reduced its holdings in Western Mining Co. Based on the prevailing share price of the company, Goldman Sachs is estimated to have returned US$44.5 million to its coffers with this latest round of divestiture. Goldman Sachs continues to hold some 114 million shares in Western Mining. (People’s Republic of China)

3i Group plc has appointed Mr. Anil Ahuja as the head of its Asia operations effective immediately. (Asia)

Mr. Lip- Bu Tan, a founder and chairman of Walden International, has been appointed as President and Chief Executive Officer of Cadence Design Systems, Inc. while concurrently serving as chairman of the venture capital firm. (USA)