Author: Deal Street Asia Online News

Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m

The Sherpa Company Limited, a subsidiary of the Vietnamese conglomerate Masan Group Corporation, has acquired a 20% stake in Phuc Long Heritage Joint Stock Company, the firm behind the local tea and coffee brand Phuc Long, for $15 million, according to an announcement. As part of the deal, the Masan Group-owned retailer VinCommerce, which runs… Continue reading Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m

China’s Eminence closes USD Fund II at $120m to focus on enterprise software …

Eminence Ventures, which invests in early-stage enterprise software and cloud computing startups in China, has reached the final close of its second US dollar fund at $120 million, bringing the firm’s total assets under management (AUM) to nearly $200 million. The second US dollar fund attracted backing from Silicon Valley’s Emergence Capital, and Hong Kong’s… Continue reading China’s Eminence closes USD Fund II at $120m to focus on enterprise software …

Xiaomi-backed Chinese tax platform Huisuanzhang bags $80m Series D

China’s Huisuanzhang, a SaaS-based corporate accounting and tax management platform, has secured $80 million in a Series D round of financing from undisclosed investors, per its announcement on Monday.  Investment bank Cygnus Equity served as financial advisor for the deal, it said in a WeChat post.  The platform will invest the funding proceeds to grow… Continue reading Xiaomi-backed Chinese tax platform Huisuanzhang bags $80m Series D

China Digest: TYK Medicines bags $62m; TAOS Data raises $47m led by Matrix Partners China …

TYK Medicines has garnered nearly 400 million yuan ($62 million) in a Series B+ round led by Sealand Innovation, while TAOS Data has secured $47 million in a Series B round led by Matrix Partners China. TYK Medicines bags nearly $62m Series B+ Chinese biopharmaceutical firm TYK Medicines has garnered nearly 400 million yuan ($62… Continue reading China Digest: TYK Medicines bags $62m; TAOS Data raises $47m led by Matrix Partners China …

Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m

Anchor Equity Partners led a 60 billion yen ($550 million) investment round in Kakao Japan, while Advantage Partners invested 7 billion yen ($64 million) in restaurant operator Saint Marc. Anchor Equity invests $550m in Kakao Japan Anchor Equity Partners, a private equity firm focused on opportunities in Korea and North Asia, has led an investment… Continue reading Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m

SEA Digest: Thailand’s first initial coin offering; S&P assists Vietnam’s FiinGroup

SPV77 plans to raise $76.48 million in Thailand’s first initial coin offering (ICO); Vietnam’s FiinGroup will receive technical assistance from S&P Global Ratings.  SPV77 plans Thailand’s first initial coin offering SPV77 Co Ltd has announced plans to raise 2.4 billion baht ($76.48 million) from the launch of 240 million real estate-backed digital tokens, in Thailand’s… Continue reading SEA Digest: Thailand’s first initial coin offering; S&P assists Vietnam’s FiinGroup

Kredivo’s parent firm FinAccel builds 24% stake in Indonesia’s Bank Bisnis Internasional

FinAccel, the parent company of Indonesia’s digital credit platform Kredivo, has acquired a 24% stake in local bank PT Bank Bisnis Internasional Tbk, according to a stock exchange disclosure by the latter.  FinAccel spent 551.31 billion rupiah ($38.4 million) to buy the stake in Bank Bisnis Internasional from its existing shareholders PT Sun Land Investasi… Continue reading Kredivo’s parent firm FinAccel builds 24% stake in Indonesia’s Bank Bisnis Internasional

Singapore court approves move to freeze Hin Leong founder’s assets worth $3.5b

Singapore’s High Court has accepted a request to freeze up to $3.5 billion of worldwide assets of Lim Oon Kuin and his two children following the collapse of Lim’s oil trading firm Hin Leong Trading Pte Ltd, the company’s liquidators told creditors in an email reviewed by Reuters. Court-appointed liquidators of Hin Leong, the Lim family and their lawyers, did… Continue reading Singapore court approves move to freeze Hin Leong founder’s assets worth $3.5b

AMTD Digital looks to raise $100m in NYSE IPO even as scrutiny tightens …

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading AMTD Digital looks to raise $100m in NYSE IPO even as scrutiny tightens …