SG automotive marketplace Carro raises $360m led by SoftBank to become a unicorn

Singapore-headquartered Carro has announced the completion of a $360 million Series C funding round led by SoftBank Vision Fund 2, making it the first automotive marketplace unicorn in Southeast Asia.  Notable investors in this round of financing include several prominent Indonesia-based funds such as EV Growth, according to a statement, according to a press release… Continue reading SG automotive marketplace Carro raises $360m led by SoftBank to become a unicorn

Indonesia aims to sell only electric-powered cars, motorbikes by 2050

Indonesia aims to sell only electric cars and motorcycles by 2050 to replace vehicles powered by combustion engines, the country’s energy minister said on Monday, as the Southeast Asian country seeks to reduce its carbon emissions. All motorcycles sold from 2040 will be electric-powered, while all new cars sold from 2050 will be electric vehicles (EVs),… Continue reading Indonesia aims to sell only electric-powered cars, motorbikes by 2050

People Digest: JustCo appoints CFO; Azqore inducts board members

Singapore-based co-working firm JustCo has appointed former managing director and chief financial officer of Mercatus Co-operative Ltd as its CFO. In a separate development, Swiss-based Azqore has made key appointments to its executive board. JustCo ropes in Mercatus Co-operative ex-MD as CFO Singapore-based co-working firm JustCo announced the appointment of Loke Huey Teng as its… Continue reading People Digest: JustCo appoints CFO; Azqore inducts board members

India: Multiples PE leads $65m funding in online meat retailer Licious …

Meat and seafood brand Licious has raised about $65 million in funding from Multiples Alternate Asset Management, Brunei Investment Agency, Vertex Ventures, and other investors, per media reports. The board of Licious has passed a special resolution to allot 100 equity shares and 8,879 Series F preference shares at an issue price of Rs 5,22,719.05… Continue reading India: Multiples PE leads $65m funding in online meat retailer Licious …

India: Adani shares fall after freeze placed on foreign funds

Shares of Adani group companies fell by about 5% to 25% on Monday after the National Securities Depository Ltd (NSDL) froze the accounts of three foreign funds that are among the top stakeholders in the firms. Adani Enterprises, the conglomerate’s flagship company, plunged as much as 25%, its steepest fall in nearly a decade. Nifty 50-listed Adani Ports and Special Economic Zone fell as much as… Continue reading India: Adani shares fall after freeze placed on foreign funds

PEXA prepares for July debut in biggest Australian IPO of 2021

Online property company PEXA Group Ltd is set to make its Australian market debut on July 1 after filing a prospectus on Monday for what would be the country’s largest initial public offering (IPO) this year. The hotly anticipated IPO comes as Australian house prices skyrocket thanks to record-low borrowing rates and government incentives that… Continue reading PEXA prepares for July debut in biggest Australian IPO of 2021

Singapore’s GIC invests $70m in crypto exchange OSL parent BC Group …

Hong Kong-listed BC Technology Group, the parent firm of regulated digital asset platform OSL, said on Friday that it has raised almost HK$543.2 million (about $70 million) from Singapore’s sovereign wealth fund GIC through a private placement. The investment marks another crypto-related deal by GIC, which led an $80-million Series C round in US-based digital… Continue reading Singapore’s GIC invests $70m in crypto exchange OSL parent BC Group …

US data firm Equinix signs new JV deals with Singapore’s GIC

U.S.-based data centre firm Equinix Inc on Monday said it had signed agreements for additional joint ventures with Singapore’s sovereign wealth fund GIC to add $3.9 billion to expand a data centre programme. The agreements for additional joint ventures in the form of limited liability partnerships with GIC, when closed, will bring the xScale data centre portfolio to more than $6.9 billion across 32 facilities globally, Equinix said in a statement.… Continue reading US data firm Equinix signs new JV deals with Singapore’s GIC