Author: Deal Street Asia Online News

GoTo to discontinue quick commerce service Tokopedia Now

Tokopedia Now, a quick commerce service by Indonesian marketplace giant Tokopedia, will officially cease operations on July 16, according to an announcement on the Tokopedia app. The service will be available until Monday, July 15. Even though Tokopedia Now is available on the Tokopedia app, the on-demand quick commerce service falls under the ambit of… Continue reading GoTo to discontinue quick commerce service Tokopedia Now

Temasek’s Seviora Group takes minority stake in Hong Kong’s ADM Capital

Seviora Group, an asset manager wholly owned by Singapore’s Temasek, is acquiring a minority stake in Hong Kong-headquartered private credit manager ADM Capital, the companies said in a statement on Monday.  The deal comes as Seviora looks to expand its private credit offerings across the region, according to the statement, looking to build on ADM’s… Continue reading Temasek’s Seviora Group takes minority stake in Hong Kong’s ADM Capital

Indian unicorn Zetwerk in talks with Alphabet’s CapitalG to raise fundsTalks surface as the company is looking to ramp up its exports and tap new mark…

Zetwerk, an Indian unicorn that undertakes contract manufacturing of capital and consumer goods, has initiated talks to raise funding from CapitalG, the investment unit of Google’s parent Alphabet, multiple sources familiar with the matter told DealStreetAsia. Go to Source

Foreign LPs continue to evince interest in Southeast Asia, says AC Ventures’s Helen Wong

Jakarta-based early-stage venture capitalist AC Ventures, with its latest fundraise, has proven that Southeast Asia remains an attractive destination for international investors. The venture capital (VC) firm raised $210 million for its fifth fund earlier this year with support from institutional investors from the US, Middle East, and North Asia despite the high interest rate… Continue reading Foreign LPs continue to evince interest in Southeast Asia, says AC Ventures’s Helen Wong

Chinese hydrogen energy firm Huture to go public in $1b SPAC dealHuture plans to trade on the Nasdaq following the merger, which is expected to be com…

Hydrogen energy firm Huture said on Tuesday it has agreed to go public in the U.S. through a merger with a blank-check firm Aquaron Acquisition in a deal that would value the combined company at $1 billion. The SPAC market has soured over the last two years due to poor financial performance and a regulatory… Continue reading Chinese hydrogen energy firm Huture to go public in $1b SPAC dealHuture plans to trade on the Nasdaq following the merger, which is expected to be com…

Vietnam’s VinFast delays US electric car plant, trims delivery forecast

Vietnamese electric vehicle (EV) maker VinFast is delaying the launch of its planned $4 billion factory in North Carolina to 2028 and cutting its delivery forecast for this year by 20,000 units amid uncertainties in the global EV market. VinFast, founded by Vietnam’s richest man Pham Nhat Vuong in 2017 and which turned to making… Continue reading Vietnam’s VinFast delays US electric car plant, trims delivery forecast

GIP, Stonepeak among bidders for Singapore Power’s 40% stake in JemenaSingapore Power, an energy utility company, is wholly owned by state investor Te…

Global Infrastructure Partners (GIP) and Stonepeak are among the bidders for Singapore Power’s 40% stake in Jemena in a potential deal that could value the Australian energy group at over $10 billion, two sources with knowledge of the matter said. The infrastructure investors were among the parties that submitted first-round bids which were due in June, the… Continue reading GIP, Stonepeak among bidders for Singapore Power’s 40% stake in JemenaSingapore Power, an energy utility company, is wholly owned by state investor Te…