Author: Deal Street Asia Online News

India: The beeline for IPOs in August may be a sign of something darker

The building of the Bombay Stock Exchange in Mumbai. Credit: Wikimedia Commons Premium India’s markets regulator faced one of its busiest months in August as a record 29 companies filed draft prospectuses for public listings, underscoring the ongoing frenzy in India Inc. to exploit a runaway rally in equity markets. Go to Source

MGI acquires digital ad platform Smaato from China’s QS Funds for $166m

Media and Games Invest SE (MGI), a digital games and media firm mainly operating in Europe and North America, has acquired global in-app advertising platform Smaato from Chinese private equity firm QS Funds for 140 million euros ($165.8 million). The completion of the deal saw QS Funds divest its stake in Smaato, roughly five years… Continue reading MGI acquires digital ad platform Smaato from China’s QS Funds for $166m

Temasek’s Heliconia makes minority investment in SG’s pop culture collectibles maker XM Studios

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Temasek’s Heliconia makes minority investment in SG’s pop culture collectibles maker XM Studios

European-Asian PE firm AGIC Capital raises second fund at $1.2b

European-Asian private equity firm AGIC Capital has held a final closing of its second fund, AGIC Fund II, at $1.2 billion, according to an announcement. The second fund will continue to focus on advanced industrial and medical technology investments. It will invest in the majority and significant minority positions in mid-market companies with enterprise values in the… Continue reading European-Asian PE firm AGIC Capital raises second fund at $1.2b

Thailand’s CP Group to merge hypermarket owners in overseas push

Pedestrians walk past a Makro store, operated by Siam Makro Pcl, in Bangkok, Thailand. Photographer: Brent Lewin/Bloomberg Premium Thailand’s largest conglomerate Charoen Pokphand Group will reorganize and merge operating companies of its Lotus’s and Makro retail chains to create a stronger entity as the group eyes overseas markets. Go to Source

India: WestBridge Capital leads $23m funding in voice AI startup Skit …

Artificial intelligence-based voice startup Skit, previously known as Vernacular.ai, has mopped up $23 million as part of its Series B funding round led by WestBridge Capital, per an announcement. The financing also saw participation from Kalaari Capital and Exfinity Ventures, Angelist syndicate led by Aaryaman Vir Shah from Prophetic Ventures, and LetsVenture syndicate led by… Continue reading India: WestBridge Capital leads $23m funding in voice AI startup Skit …

South Korea passes bill to curb Google, Apple dominance in payments

South Korea‘s parliament on Tuesday approved a bill that bans major app store operators such as Google and Apple from forcing software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases. It is the first such curb by a major economy on the likes of Apple Inc and Alphabet Inc’s… Continue reading South Korea passes bill to curb Google, Apple dominance in payments

Chinese state firms said to take big stake in Ant’s credit-scoring JV

State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three people told Reuters, in a move that will loosen the Chinese fintech giant’s grip on a data treasure trove of over 1 billion users but help revive its IPO. The partners plan to establish a personal credit–scoring firm, said the people, adding that such a… Continue reading Chinese state firms said to take big stake in Ant’s credit-scoring JV

Didi, JD.com employees get unions in watershed moment for China’s tech sector

Chinese ride-hailing giant Didi Global Inc has set up a union for its staff while e-commerce powerhouse JD.com has also established one – landmark moves in the country’s tech sector where organised labour is extremely rare. Regulators in China have come down hard on its biggest technology firms this year, criticising them for policies that exploit workers and infringe on consumer rights in addition to… Continue reading Didi, JD.com employees get unions in watershed moment for China’s tech sector