Author: Deal Street Asia Online News

China’s Baidu Ventures raises $400m for third fund, to bet on new technologies

Baidu Ventures (BV), the investment arm of Chinese search engine giant Baidu, announced on Friday that it has raised $400 million for its third fund, in a bid to bet on the new technology industry. While it didn’t disclose if it’s a dollar-denominated fund, Baidu Ventures revealed that the fresh fund brings its total assets… Continue reading China’s Baidu Ventures raises $400m for third fund, to bet on new technologies

Indonesian startup J&T Express said to seek over $2b in pre-IPO round

Indonesian courier startup J&T Express is in talks with investors to raise more than $2 billion ahead of a Hong Kong initial public offering (IPO), and is looking to expand in Latin America, three people with knowledge of the matter told Reuters. The logistics firm is seeking to hit a $20 billion valuation with the… Continue reading Indonesian startup J&T Express said to seek over $2b in pre-IPO round

Singapore Exchange’s SPAC rules seen giving market much-needed boost …

Singapore Exchange’s new rules for special purpose acquisition companies (SPACs) are likely to help it attract regional funds and fast-growing firms, as it seeks to revitalise a staid market for equity listings, market participants said. Some of them expect Southeast Asian startups, especially from the tech sector, to take advantage of SGX becoming the first… Continue reading Singapore Exchange’s SPAC rules seen giving market much-needed boost …

China’s XSKY secures $110m in Series E round led by Boyu Capital …

XSKY (Beijing) Data Technology on Friday announced that it has secured as much as 710 million yuan ($110 million) in a Series E round of financing led by Chin-focused private equity firm Boyu Capital.  A slew of new investors including Lenovo Group’s corporate venture capital arm Legend Capital, CICC Capital’s investment unit CICC Alpha, Kunlun… Continue reading China’s XSKY secures $110m in Series E round led by Boyu Capital …

People Digest: Sazaliza becomes EPF COO; QIC names Allison Hill as CIO

Malaysia’s Employees Provident Fund (EPF) has announced the appointment of Sazaliza Zainuddin as its chief operating officer while Brisbane-based investment company QIC has named Allison Hill as its chief investment officer. EPF names Sazaliza Zainuddin new COO  Malaysian pension fund Employees Provident Fund (EPF) has named Sazaliza Zainuddin as its COO, effective September 1, following… Continue reading People Digest: Sazaliza becomes EPF COO; QIC names Allison Hill as CIO

Korean buyout firm VIG Partners sells 10% stake in Preed Life for $43m

Korean buyout firm VIG Partners on Friday announced that it has sold a 10% stake in Preed Life, a domestic pre-need funeral service provider, to Mastern Partners, the private equity arm of real estate asset manager Master Investment Management. Mastern acquired the minority stake for 50 billion won ($43 million), just 15 months after VIG… Continue reading Korean buyout firm VIG Partners sells 10% stake in Preed Life for $43m

Shunwei backs Ultron Photonics and 13 more deal updates from Greater China

ResearchPremium Hangzhou-headquartered laser technology firm Ultron Photonics Inc has raised nearly 100 million yuan ($15 million) in its Series A round of financing led by Xiaomi’s Shunwei Capital.  The Series A round funding was joined by Qitang Changhou Investment, a joint fund by state-owned Beijing E-town International Investment & Development and display control solutions provider… Continue reading Shunwei backs Ultron Photonics and 13 more deal updates from Greater China

China’s plans for an SME stock exchange in Beijing fuel fears of a bourse war …

China’s plans to launch a new exchange in Beijing, announced by President Xi Jinping on Thursday, boosted shares in Chinese brokerages but knocked down Shenzhen start-up board ChiNext and shares of Hong Kong’s bourse amid fears of rising competition. Although China’s securities regulator said the planned Beijing stock exchange is based on the city’s existing New Third… Continue reading China’s plans for an SME stock exchange in Beijing fuel fears of a bourse war …

Mobile-commerce enabler Bikayi raises $10.8m led by Sequoia Capital India

Bikayi, a mobile-commerce enabler, has raised $10.8 million in a Series-A funding round, led by Sequoia Capital India. In August last year, the startup had raised $2 million as a part of its seed round led by Y Combinator. Aiming at scaling product offerings, Bikayi plans to use the funds to accelerate product development, acquisition,… Continue reading Mobile-commerce enabler Bikayi raises $10.8m led by Sequoia Capital India