Author: Deal Street Asia Online News

Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others

MegaRobo, a high-tech startup that applies AI and robotics in life sciences and other sectors, has raised $65 million in a funding round led by Hong Kong-listed pharma giant WuXi AppTec, as per a company statement.  The round was joined by existing investors including Matrix Partners China, Dr. Kai-Fu Lee’s Sinovation Ventures, Germany-based Bosch’s investment… Continue reading Chinese AI startup MegaRobo raises $65m from Matrix Partners, Sinovation, others

Japanese PE player J-Star exits film coating firm Nakai Industrial

Japanese private equity firm J-Star on Friday announced its exit from film coating company Nakai Industrial Co Ltd through the sale of entire its interest in the firm to Mitsubishi Chemical Corp for an undisclosed sum. The transaction was conducted through J-Star funds (J-STAR No.3 SS, LP, etc.). J-Star said Nakai, which was set up… Continue reading Japanese PE player J-Star exits film coating firm Nakai Industrial

KKR consortium makes $2.3b bid for Australia’s Link Group-backed PEXA

Private equity powerhouse KKR has teamed up with real estate technology and services firm Domain Holdings Australia Limited to make a A$3 billion ($2.3 billion) bid to acquire electronic property settlement provider Property Exchange Australia (PEXA). PEXA is 44.2% owned by Australia’s listed Link Group, a provider of data and administration services to the finance… Continue reading KKR consortium makes $2.3b bid for Australia’s Link Group-backed PEXA

Australia’s BetMakers enters race for Tabcorp’s wagering arm with $3.1b bid …

Australia’s BetMakers Technology Group Ltd on Friday intensified a three-way bidding war for Tabcorp Holdings Ltd’s wagering and media business, offering A$4 billion ($3.1 billion) for the struggling division. The BetMakers proposal dwarfs separate A$3.5 billion offers by British sports betting firm Entain and US-based investment manager Apollo Management for the Tabcorp unit hit hard… Continue reading Australia’s BetMakers enters race for Tabcorp’s wagering arm with $3.1b bid …

Samsung Life acquires 25% stake in Savills IM, commits $1b to investment strategies

South Korea’s largest life insurance provider Samsung Life will acquire an initial stake of 25% in  Savills IM Holdings Ltd (Savills IM), a subsidiary of the real estate services provider Savills Plc, for 63.75 million pounds in cash.  This is part of a strategic investment alliance between Samsung Life, Savills IM, and real estate asset… Continue reading Samsung Life acquires 25% stake in Savills IM, commits $1b to investment strategies

Tata buys majority stake in Alibaba-backed Indian online grocer BigBasket

Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart’s Flipkart, and Reliance Industries. The stake was bought by Tata Digital Limited, a unit of Tata Sons. Tata on Friday declined to give further details on the deal, while BigBasket did not… Continue reading Tata buys majority stake in Alibaba-backed Indian online grocer BigBasket

India Digest: Oxfordcaps, Cult.Fit in M&A news; Dream11 puts $50m in FanCode

Co-living platform Abuzz has acquired student accommodation startup Oxfordcaps while Tata Group is in talks to acquire health and fitness startup Cult.Fit (formerly Cure.fit). Separately, Dream11 has pumped in $50 million in its in-house sports content and commerce platform FanCode. Abuzz acquires Oxfordcaps Altruist Technologies that runs bachelor-focused co-living platform Abuzz has acquired student accommodation… Continue reading India Digest: Oxfordcaps, Cult.Fit in M&A news; Dream11 puts $50m in FanCode

China’s “Uber for trucks” Full Truck Alliance files for $1.5b IPO on NYSE

China’s Full Truck Alliance, which styles itself as the country’s ‘Uber for Trucks’, has made public filings to list on the New York Stock Exchange and aims to raise up to $1.5 billion, sources with direct knowledge of the matter said. At that amount, it would be the second-largest US listing by a Chinese company… Continue reading China’s “Uber for trucks” Full Truck Alliance files for $1.5b IPO on NYSE

China Digest: Haimayun nets $44m; Tiger Global leads Lingxing’s $30m Series B …

Haimayun has secured 280 million yuan ($44 million) in a new round of financing, while Shenzhen Lingxing Network Technology has raised 200 million yuan ($30 million) in a Series B round of financing led by Tiger Global. Haimayun nets $44m in a new funding round Cloud gaming technology services provider Haimayun has secured 280 million… Continue reading China Digest: Haimayun nets $44m; Tiger Global leads Lingxing’s $30m Series B …