Deals in brief: Turn Capital acquires Flash Coffee Thailand, Bain Capital closes fifth pan-Asia private equity fund, multiple China and India deals, and more

Turn Capital acquires Flash Coffee’s Thailand business

Venture capital firm Turn Capital has acquired the Thailand business of tech-enabled coffee chain Flash Coffee.

As per the statement disclosing this acquisition, Turn Capital typically secures controlling stakes in its deals, allowing its team to adopt a more hands-on approach. In the case of Flash Coffee, the firm intends to leverage its brand, product, and proprietary technology to broaden the chain’s footprint throughout Thailand. The goal is to establish more than 100 new stores within the next two years, surpassing a total of 200 locations in the country.

“We are excited to partner with [Flash Coffee’s] management team to bring the tech-driven Flash Coffee brand to profitability, and to work with the young and energetic Thailand team to grow the company over the next few years.” said Shang Koo, partner at Turn…