As the spread of the coronavirus continues to have a severe impact on the global economy, private equity and venture capital firms are increasingly looking to Asia for opportunities.

Coronavirus Pushes Deals East

Carlyle Group (NYSE: CG) announced this week that it had raised $2.3 billion for its fourth Japanese buyout fund, Carlyle Japan Partners IV.

The fund will invest in upper mid-market investment opportunities in Japan across Consumer, Retail, and Healthcare, General Industries and Technology, Media, and Telecom. They will also look to make equity investments in larger companies on an opportunistic basis, according to the Carlyle press release announcing the deal.

China-focused DCB Partners raised over $2 billion for its China-focused private equity firm last year, and founder David Li has said he intends to open another similar larger fund later this year. In all research firms, Prequin is reporting that China-focused buyout funds have raised $6 billion so far this year, compared to only $1.3 billion over the same period last year.

On the venture capital side, Vickers Venture Partners announced today that they had raised $200 million of the targeted $500 million for its Asian focused fund. It is the 6th fundraise by the firm and will be looking to invest in what they call disruptive new technology companies.

Private equity and venture funds are looking to invest capital in products and services that will see increased interest in demand after the coronavirus spread is finally halted. Companies that are building businesses that allow for remote working and education are seeing a lot of interest form startup investors, particularly in China. Remote healthcare applications are also seeing a surge in interest since the outbreak began in the region last year.

Related: Whoa… Primavera Capital Raises $3.4 Billion China Fund