Author: Deal Street Asia Online News

BlackRock becomes first global asset manager to get MF business licence in China

BlackRock has become the first global asset manager allowed to start a wholly-owned onshore mutual fund business in China, as Beijing accelerates the opening of the $3.5 trillion industry. BlackRock said on Friday its Chinese fund management unit had won approval from the China Securities Regulatory Commission (CSRC) to start the operation. “China is taking significant steps… Continue reading BlackRock becomes first global asset manager to get MF business licence in China

SoftBank’s PayPay racing ahead in Japan’s digital payments race

For six decades, shoppers at Mikawaya, a rice dealer in eastern Tokyo, paid in cash – until sales staff from payments app PayPay swept through the low-lying district, persuading the store to give their product a try. With customers clamouring to use the service and nearby stores signing up, PayPay‘s offer of free installation and no handling fees… Continue reading SoftBank’s PayPay racing ahead in Japan’s digital payments race

China Youran Dairy said to have raised $643m in HK IPO …

China Youran Dairy Group raised $643 million in its Hong Kong initial public offering (IPO) by pricing its shares at the bottom of an indicated price range at HK$6.98 each, according to two sources with direct knowledge of the matter. China Youran did not immediately respond to a request for comment. The sources could not be named as the information was not yet public. The company had flagged its… Continue reading China Youran Dairy said to have raised $643m in HK IPO …

China’s Huawei aims to develop driverless car technology by 2025

China’s Huawei Technologies aims to develop driverless passenger car technology by 2025, an executive said on Thursday, as the world’s largest telecommunications equipment maker diversifies its business in the face of U.S. sanctions. “Our team’s goal is to reach true driverless passenger cars in 2025,” Wang Jun, senior executive at Huawei‘s smart vehicle unit, told an industry conference. Dozens of startups, automakers and large technology firms such as internet search leader Baidu Inc… Continue reading China’s Huawei aims to develop driverless car technology by 2025

India: Krishna Institute of Medical Sciences IPO opens for subscription next week

KIMS received the green signal from capital market regulator Securities and Exchange Board of India’s (SEBI) for their public issues in April, after having filed their draft papers in February. The initial public offering (IPO) comprises a fresh issue of shares aggregating up to ₹200 crore and an offer for sale of up to 21,340,931… Continue reading India: Krishna Institute of Medical Sciences IPO opens for subscription next week

Indian early-stage VC 3one4 Capital sees strong demand for latest fund …

“We will definitely be oversubscribed. It will be more than our target of $100 million,” said Pai. “We were expecting it to take the usual one and a half or two years, but we achieved oversubscription in two and a half quarters. So the fundraising has been far ahead of expectations,” he said. The third… Continue reading Indian early-stage VC 3one4 Capital sees strong demand for latest fund …

Slintel raises $20m in Series A round led by GGV Capital …

Existing investors including Accel, Sequoia Capital India, and Stellaris Venture Partners also participated in the funding round. The current fundraise comes less than a year after its previous funding round. In October, last year, Slintel had raised $4.2 million in a funding round led by Accel. The round also saw participation from Sequoia Capital India… Continue reading Slintel raises $20m in Series A round led by GGV Capital …

Singapore accounting software startup Osome raises $16m Series A …

Osome, a Singapore-based startup that helps in digitalising accounting and compliance services for SMEs, has raised $16 million in a Series A funding round to fuel its international expansion. Investors who joined the funding round include European investment manager Target Global, Tel Aviv-based AltaIR Capital, US-based Phystech Ventures, US- and Europe-focused early-stage fund S16VC, and… Continue reading Singapore accounting software startup Osome raises $16m Series A …