Author: Deal Street Asia Online News

JOYY’s top shareholders plan take-private deal valuing firm at up to $8b …

JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said. They are teaming up for the deal as they believe the Chinese social media… Continue reading JOYY’s top shareholders plan take-private deal valuing firm at up to $8b …

Blackstone acquires two assets worth $40m from Indian developer Tarc

Private equity major Blackstone has entered into an agreement to acquire two wholly-owned subsidiaries of Indian listed developer TARC Ltd for a consideration of about $40 million (Rs 295 crore). Under the agreement, BREP Asia II EIP Holding Pte. Ltd, a Blackstone affiliate, will acquire Goodluck Buildtech Private Limited and Anant Raj Hotels Limited (ARHL).… Continue reading Blackstone acquires two assets worth $40m from Indian developer Tarc

Barclays to pump in more than $400m in India investment banking arm

Barclays Plc announced it is pumping in more than $400 million into its India arm to tap rising corporate and investment banking activity in the country that is now recovering from the pandemic. This is Barclays‘ single largest capital infusion in the Indian business in the last three decades. It comes after the British lender pulled out… Continue reading Barclays to pump in more than $400m in India investment banking arm

India: Battery Smart partners Tiger Global-backed car service startup GoMechanic

Battery Smart, a battery swapping network for electric two- and three-wheelers, on Wednesday, announced a partnership with GoMechanic, a network of tech enabled car service and spares centres. Through the partnership, Battery Smart will set up battery swapping stations in 100+ GoMechanic garages across India, with the first one live in west Delhi. Go to… Continue reading India: Battery Smart partners Tiger Global-backed car service startup GoMechanic

SG Digest: Ex Grab, Uber execs launch car subscription platform, Alethea AI raises $16m …

Former executives of Grab, Uber, and Hertz have launched Carzuno, a car subscription startup in Singapore, while AI software development firm Alethea AI has raised $16 million in a private token sale. Former Grab, Uber execs launch car subscription platform Carzuno, a car subscription startup, has launched in Singapore. The startup was founded by two… Continue reading SG Digest: Ex Grab, Uber execs launch car subscription platform, Alethea AI raises $16m …

China Digest: Shunwei’s sub-fund to raise $154m; Yeasen Biotechnology nets $46m

Shunwei Capital’s sub-fund Shenzhen Shunying Private Equity Investment is raising 1 billion yuan ($154 million) for a new fund. In a separate development, Yeasen Biotechnology (Shanghai) has landed 300 million yuan ($46 million) in a Series B+ round. Shunwei’s sub-fund to raise $154m Shenzhen Shunying Private Equity Investment, a sub-fund of electronics giant Xiaomi’s Shunwei… Continue reading China Digest: Shunwei’s sub-fund to raise $154m; Yeasen Biotechnology nets $46m

Toshiba said to be in talks with atleast four PE firms for strategic ideas …

Toshiba Corp is in talks with at least four global private equity firms including KKR & Co Inc and Blackstone Inc to seek their ideas for its new strategy, three sources with knowledge of the matter said. Bain Capital and Canadian investment firm Brookfield have also been tapped by the scandal-hit Japanese conglomerate’s strategic review committee… Continue reading Toshiba said to be in talks with atleast four PE firms for strategic ideas …

India: Sistema Asia Fund hires tech entrepreneur Sampathkumar P as senior partner

Sistema Asia Fund (SAF), the Bengaluru-based venture capital firm investing in mid-stage Indian startups, on Wednesday announced the induction of ex-VC and tech-entrepreneur Sampathkumar P. as part of the firm’s investment leadership in India. Sampathkumar is joining the team as a senior partner to lead and manage investments for the soon-to-be launched Fund II by… Continue reading India: Sistema Asia Fund hires tech entrepreneur Sampathkumar P as senior partner

Indian government launches accelerator programme to fund 300 early-stage startups

The Ministry of Electronics and Information Technology (MeitY), on Wednesday, announced the Startup Accelerator for Product Innovation, Development & Growth (SAMRIDH) programme, which aims to help growing startups in India. The programme was announced in the annual report of the MeitY earlier this year and was under approval at the time. “The part when an… Continue reading Indian government launches accelerator programme to fund 300 early-stage startups