Asia Online Gets $100 Million Investment Asia Online Gets $100 Million Investment Paul Jones
Asia Online Ltd, a regional Internet solutions and access provider, has raised US$100 million from a pedigreed list of institutional and strategic investors.
The $100 million figure is the largest largest known single-round venture funding of a private Internet play in Asia to date. The last three rounds of investment in the Hong Kong-based company brought in more than $140 million in capital.
Led by Paribas Affaires Industrielles (PAI), investors in this round include ABN Amro Capital Investment Asia Ltd., Dell Computer, CIBC, Hikari Tsushin, MF Private Capital, Paine Webber, and Systex Capital Group Inc.
The new investors join existing shareholders Concentric Network Corp., GE Equity Asia-Pacific, Interliant Inc, JP Morgan International Capital Corp, Nexus Group, Peqount Capital Management Inc and Softbank Technology Ventures
Asia Online plans to use the additional funds for further expansion in the region, to make acquisitions, to develop technology and to integrate product offerings of partners.
Through expansion and acquisition, Asia Online has ISP operations in Hong Kong, the Philippines, Malaysia, Australia, New Zealand, India and the North America.
