Japan Asia Investment Co. Ltd. ('JAIC'), one of the largest listed venture capital firms in Japan, announced its decision to use the Japanese Association of Turnaround Professionals ('JATP') to resolve its term debts payments. It currently faces ¥46 billion (US$450 million) in interest-bearing debt. (Japan)

Unison Capital's proposal to acquire at least 35.2% of Aderans Holdings Co., Ltd. ('Aderans') has met opposition from Steel Partners Japan Strategic Fund (Offshore), L.P. ('Steel Partners'). Steel Partners cited the proposed purchase price is 58% lower than Aderans' book value of ¥1,582 (US$15.50) per share as the reason of its objection. (Japan)

The International Finance Corp. is considering an investment of 1.5 billion rupees (US$30 million) in Max India Ltd, a listed healthcare company. Warburg Pincus is currently an investor in Max India. (India)

The Great Wall Securities Co. Ltd. ('Great Wall') is seeking to sell its holdings in Tsingyuan Defeng Venture Capital ('Tsingyuan Defeng') at 28.67 million yuan (US$4.2 million), instead of the earlier 35.83 million yuan. At the end of July, Tsingyuan Defeng net assets stood at 358.3 million yuan, with a debt load of 22 million yuan. (People's Republic of China)

China Ping An Trust & Investment Co., Ltd. will join forces with the Chongqing Municipal Government to launch a 5 billion yuan (US$732.7 million) private equity fund, according to local media reports. (People's Republic of China)

The India arm of Centre for Asia Pacific Aviation (India) is in the process of establishing India's first dedicated aviation fund that has a target fund size of US$150 million. It has a fund life of between three and five years. (India)

The South Korea government plans to launch a 1 trillion won (US$802.5 million) resource development fund to invest in overseas natural resources, according to reports citing the Ministry of Knowledge Economy. The proposed fund will have a 10-year tenure. (South Korea)

The Hong Kong-based First Vanguard Assets Limited announced its intention to launch a water industry focused infrastructure fund with the China-based Zhongzhi Enterprise Group. The fund has a target size of US$500 million and invests in Greater China and the Pacific Rim. (Pan-Asia)

The government of Chongqing has teamed up with the US-based Etech Securities, Inc. to set up a 5 billion yuan (US$732.3 million) fund. The fund is seen as one of the city government's steps to mould Chongqing into a financial centre in the Inner West region of China. (People's Republic of China)

The Shanxi Jinfeng Huizhi Venture Investment Company has become the first venture capital fund launched by a private company in the Shanxi Province, according to Xinhua. It has a capital pool of 300 million yuan (US$44 million). (People’s Republic of China)

Motilal Oswal Private Equity Advisors has made a follow-on investment of 200 million rupees (US$4.0 million) in AU Financiers (India) Pvt Ltd ('AU Financiers'), according to various reports. This is a second round of financing provided by the private equity firm to AU Financiers. (India)

Helion Ventures Partners ('Helion') has invested 160 million rupees (US$3.2 milion) in Brand Calculus, a Quick Service Restaurant business. This is the first investment in the food sector by Helion. (India)

Milestone Religare Investment Advisors Pvt Ltd. ('Milestone') confirms it is in the process of making allocations to a healthcare and education operation. The deal size is estimated at 500 million rupees (US$10.1 million), according to local reports. (India)

Hopu Investment Management and Temasek Holdings took up the lion's share of China Construction Bank's ('CCB') shares sold by Bank of America ('BofA'). The latter has raised US$7.3 billion, of which, China Life Insurance Limited purchased US$1.5 billion worth of the shares on the market. Temasek Holdings is currently a 5.6% shareholder in CCB. (People's Republic of China)

Intel Capital has invested US$5 million in Infraware, a software development company headquartered in Seoul. Infraware specialises in developing convergence applications designed for any kind of mobile or internet appliance and has enlisted SK Telecom in developing a next generation Mobile Internet Device platform. (South Korea)

Nexus India Capital has invested US$5 million in OLX, Inc. ('OLX'), an internet company based in New York and Buenos Aires. Earlier, OLX had received US$13.5 million from US-based investors, including General Catalyst Partners and Bessemer Venture Partners. (Offshore)

A group of Japan-based investors, including Globis Capital Partners, Itochu Technology Ventures, Yasuda Enterprise Development, and Panasonic Ventures, have joined US investors in the US$21 million Series C fund raising of ZettaCore, Inc., a developer of molecular materials for use in electronics. ZettaCore attracted Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, and Stanford University as investors. (Offshore)

The Riviera Group ('Riviera'), a builder of luxury motor yachts, has been placed in receivership. Currently, both Gresham Private Equity and Ironbridge Capital are Riviera's investors, while GIC Special Investments Pte Ltd. sold its holdings in 2006. (Australia)

AIF Capital confirms having sold a portion of its holdings in Yes Bank that returned nearly 6 times its initial investment. In 2004, the private equity firm, along with ChrysCapital and Citigroup Venture Capital International jointly took a 25% equity stake in the lender. (India)

IDFC Private Equity has sold its holdings in Delhi International Airport Limited through a share swap structure with GMR Infrastructure Limited. In 2006, IDFC Private Equity took an 8% stake in Delhi Airport. (India)

Ant Capital Partners ('Ant Capital') had sold its entire 28.9% share holding in Bookoff Corp., a retailer of second-hand media materials, to Dai Nippon Printing and major publishing houses. The details of the transaction were not disclosed. (Japan)

Crescent Capital Partners has reportedly put Simply Squeezed Limited ('Simply Squeezed') on the market for sale. Simply Squeezed is a leader in New Zealand’s juice industry and is currently under investigation for breaching of the Fair Trading Act. In 2006, Crescent Capital Partners invested NZ$41 million (US$27 million) in Simply Squeezed. (New Zealand)

Mr Brian Kim has been appointed as a Principal of the Asian team of Pantheon Ventures. (Pan-Asia)