Author: Deal Street Asia Online News

Biden order bans US investment in dozens of Chinese defence, tech firms

President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors. The move, which his administration says expands the scope of a legally flawed Trump-era order, drew anger from Beijing. The Treasury Department will enforce and update on a… Continue reading Biden order bans US investment in dozens of Chinese defence, tech firms

China’s Oceanpine Capital closes RMB fund at $313m for deep tech bets …

Chinese investment firm Oceanpine Capital has closed a new RMB-denominated fund at 2 billion yuan ($313.4 million) as it seeks to up the ante on deep technology investments. The fund was closed within three months of its launch, Oceanpine said in a WeChat post on Wednesday. The new vehicle secured commitments from local government-guided funds,… Continue reading China’s Oceanpine Capital closes RMB fund at $313m for deep tech bets …

Chinese precision medical firm Simcere bags $94m Series B from CITIC, others

China’s Jiangsu Simcere Pharmaceutical Group Limited announced on Friday that it has completed raising nearly 600 million yuan ($94 million) in a Series B round of financing co-led by state-backed conglomerate CITIC Group’s CITIC Securities and CITIC Medical & Health. New investors who participated in the round include Yingke PE, Hosencare Brothers, GP Capital, Shanghai… Continue reading Chinese precision medical firm Simcere bags $94m Series B from CITIC, others

Three years after exit, SoftBank in talks to invest $700m in Flipkart at $28b valuation

The transaction, the second person said, could value Flipkart at as much as $30 billion, depending on the final set of investors. Prosus Ventures, the investment arm of South African conglomerate Naspers, and other existing investors could raise their stakes, the people said. The transaction will precede a proposed listing of the Indian e-commerce giant, slated to… Continue reading Three years after exit, SoftBank in talks to invest $700m in Flipkart at $28b valuation

Startup exits in SE Asia slowed down in COVID-hit 2020, but next few years look promising

COVID-marred 2020 was a difficult period for startup exits — M&As, IPOs, and secondary sales — in Southeast Asia, but the next 3-4 years look promising, according to the SE Asia Exit Landscape Report 2.0 by Golden Gate Ventures and INSEAD released on Thursday. There were 107 exits in the region last year — a… Continue reading Startup exits in SE Asia slowed down in COVID-hit 2020, but next few years look promising

Blackstone to acquire International Data Group from China Oceanwide

US buyout major Blackstone on Thursday announced it is acquiring market intelligence firm International Data Group (IDG) for an enterprise value of $1.3 billion. Blackstone-managed private equity funds have signed an agreement to buy IDG from Oriental Rainbow, a subsidiary of China Oceanwide Holdings Group. Founded in 1964, IDG provides technology research, data, advisory services,… Continue reading Blackstone to acquire International Data Group from China Oceanwide

Chinese retailer Suning gets $500m bailout from state-backed fund …

Jiangsu province-based Suning.com said Wednesday 5.59% of its shares will be transferred to a fund started by four state-owned enterprises which are ultimately controlled by the provincial government. Photo: VCG Premium Chinese retailing giant Suning will receive a 3.2 billion yuan ($500.6 million) temporary bailout from a state-controlled fund as the owner of leading football club Inter… Continue reading Chinese retailer Suning gets $500m bailout from state-backed fund …

Chinese financial advisory firm Lighthouse plans two new funds, eyes long-term returns

Premium Lighthouse Capital, which has facilitated investments into some of China’s most prominent technology upstarts including online short-video giant Kuaishou Technology, is planning to garner capital for two new funds, while it aims to leverage market know-how as a boutique financial advisor to cash in on the growth potential of Chinese startups. Go to Source