Author: Deal Street Asia Online News

US-based Apeel raises $250m Series E round led by return backer Temasek

US-based food system innovation player Apeel has raised $250 million in its Series E funding round led by return investor Temasek Holdings, according to a company statement. Singapore’s sovereign wealth fund GIC, which is also an existing investor, joined the latest round. The company’s valuation has touched over $2 billion and its total funding to… Continue reading US-based Apeel raises $250m Series E round led by return backer Temasek

Asia Digest: Gojek launches GoCar in Vietnam; Shandi raises $700k; Quadrant buys Papinelle

Gojek has officially introduced GoCar, its four-wheel ride-hailing service, in Ho Chi Minh City while Quadrant Private Equity has acquired Australian women’s sleepwear brand Papinelle. Meanwhile, Singapore-based foodtech startup Shandi has raised more than $700,000 in a second seed funding round led by Tolaram Group. Gojek launches GoCar in Vietnam Indonesian tech giant Gojek has… Continue reading Asia Digest: Gojek launches GoCar in Vietnam; Shandi raises $700k; Quadrant buys Papinelle

Chinese AI startup SenseTime to file for Hong Kong IPO by end-August

Chinese artificial intelligence startup SenseTime is planning to file for an up to $2 billion initial public offering (IPO) in Hong Kong as soon as the end of this month, three people with direct knowledge of the deal told Reuters. The company, which Washington put on a trade blacklist in October 2019, has hired Chinese investment banks… Continue reading Chinese AI startup SenseTime to file for Hong Kong IPO by end-August

China to set up new state-owned conglomerates in strategic sectors

China will set up new central government-owned conglomerates focusing on strategic emerging industries at an appropriate time, the State Assets Supervision and Administration Commission (SASAC) said on Thursday. State-owned giants in the world’s second-biggest economy should step up innovation and strengthen tech research for industrial machines, high-end chips, new materials and new energy vehicles, the SASAC said in a statement… Continue reading China to set up new state-owned conglomerates in strategic sectors

SG’s Affirma Capital invests $100m in Korean cloud services provider Metanet

Singapore-based private equity firm Affirma Capital announced that it has agreed to invest $100 million in South Korean cloud managed service provider Metanet Tplatform, which targets to go public in 2023. The deal marks Affirma’s third investment in South Korea through its 500-billion won ($435 million) fifth Korea fund, Ascenta V. It also marks the… Continue reading SG’s Affirma Capital invests $100m in Korean cloud services provider Metanet

China to set up state pension entity with 17 firms taking stakes

China plans to set up a state pension company with registered capital of 11.15 billion yuan ($1.72 billion), a filing showed on Thursday, the latest step by the world’s most populous nation to boost funds for its citizens’ retirement. China is wooing booth public and private sector involvement as it tweaks its $1.2-trillion pension system for a rapidly ageing population faced with the prospect of… Continue reading China to set up state pension entity with 17 firms taking stakes

Baidu raises $1b in ESG bond issue amid China tech sector woes

Chinese internet giant Baidu Inc has raised $1 billion in a two-tranche, U.S. dollar sustainability bond, its first environment, social and governance (ESG) transaction. A 5.5-year tranche bond raised $300 million and the 10-year tranche secured $700 million, a company statement said. The shorter dated bond was priced at US Treasuries plus 83 basis points, while the longer dated issuance was at US Treasuries… Continue reading Baidu raises $1b in ESG bond issue amid China tech sector woes

China Digest: SORL Auto raises $77m; MinoSpace nets nearly $46m

Automotive aftermarket trading platform New SORL Auto Parts has raked in 500 million yuan ($77 million) in a Series A round of financing led by Hengxu Capital. In a separate development, space technology company MinoSpace has garnered nearly 300 million yuan ($46 million) in its pre-Series B round.  SORL Auto raises $77m in Series A… Continue reading China Digest: SORL Auto raises $77m; MinoSpace nets nearly $46m