David Kalani Lee

David’s representative experience includes advising*:

Private Equity

• KKR:
  o as one of the lead investors in the US$200 million Series C financing round of Walnut Education, a junior programming education company; and
  o as one of the lead investors in the US$150 million Series C financing round of moody, a tech-enabled eyewear company based in China.
• A leading PRC-based data center operator in connection with a US$400 million Series B equity investment by two leading global PE investors.
• A leading Asian real estate and logistics-focused asset manager in connection with its equity and debt financing from a leading private equity investor.
• A leading PRC real estate developer in connection with its joint ventures with various private equity funds to develop real estate projects in the PRC.
• The management team of a leading PRC-based financial institution in connection with the management buyout of the alternative investment business of the financial institution.
• A leading PRC-based financial institution in connection with the restructuring of its alternative investment and wealth management business units.
• The Carlyle Group in its investment, alongside Meinian Onehealth and other investors, in Adicon Holdings Limited, a China-based independent clinical laboratory provider.
• Vivo Capital and Novo Holdings as lead investors in US$200 million Series A and Crossover round financing for Esco Lifesciences with participation from other institutional investors.
• The Softbank Vision Fund in its investment in Full Truck Alliance, a leading Chinese online trucking services provider.
• A Hong Kong-based biotech fund in connection with its minority investments in various U.S.-based life sciences companies.
• Shaw Kwei & Partners in the sale of its minority investments in Yongle Tape Co., Ltd., to Avery Dennison.
• General Atlantic in its investment in various healthcare and educational businesses based in the PRC.
• Country Garden Venture Capital in connection with its US$200 million investment in Chindata, a leading data center operator backed by Bain Capital.
• A UK-based virtual asset trading platform in connection with its preferred round financings.
• SIG Investments in connection with its minority investments in various technology companies based in the PRC.
• A leading private equity investor in its investments in several real estate projects in India and Thailand.
• A leading private equity investor in the establishment, operation, and sale of various majority-owned joint ventures to develop and operate shopping malls in the PRC.
• Various private equity investors and their portfolio investments on obtaining debt financing from commercial banks.

Private Equity Fund Formation

• The founder of Airwallex, an Asia Pacific-headquartered unicorn, on the establishment of a private equity fund to invest in the fintech industry.
• The March Fund in the formation of a private equity and venture capital fund.
• A major investment management company in the establishment of a private equity fund to invest in a healthcare business based in China.

LP Investments

• An Asia-based sovereign wealth fund in connection with its LP investments in strategic industries.
• APG Asset Management on a number of investments including its US$100 million commitment to invest in GLP Vietnam Development Partners I, GLP’s first commingled fund in Vietnam with an investment capacity of US$1.1 billion.
• Several sovereign wealth funds and pension funds in connection with their LP investments in various private equity funds.

General Corporate

• noco-noco Pte. Ltd., an early stage decarbonization solutions provider focused on technologies to accelerate the global transformation to a carbon-neutral economy, in its business combination with Prime Number Acquisition I Corp. (Nasdaq: PNAC), a publicly traded SPAC. The transaction values noco-noco at US$1.35 billion.
• CITIC Private Equity in connection with its investment in, and the going private of, 3SBio Group from Nasdaq.
• A medical device manufacturer listed on the HKSE on its convertible bond pre-IPO cross-over financing led by a consortium of healthcare-focused investors.
• A pharmaceutical company listed on the HKSE on its strategic investment in a subsidiary of an A-share listed company leveraging proprietary technology platforms to deliver innovative pharmaceutical products.
• IGT in the establishment of a joint venture with Telling Telecommunication Holding Co., Ltd., to provide innovative lottery products to regulated lottery centers in the PRC.
• Various clients on structuring their telecommunications and media businesses in the PRC and on data privacy.
• Motorola Solutions in the sale of its networks business in the PRC and Hong Kong to Nokia Siemens Networks.
• Microsoft Corporation in the establishment of a joint venture with China Electronics Technology Group, a large-scale PRC state-owned enterprise, to deliver customized Windows 10 for government institutions and critical infrastructure sector state-owned enterprises.
• DreamWorks Animation in the coproduction and distribution of Kung Fu Panda 3 in the PRC and in its ground-breaking joint venture with various Chinese partners to establish the leading China-focused family entertainment company in the PRC – Oriental DreamWorks.

*Includes transactions prior to joining Sidley.