Author: Deal Street Asia Online News

German Allianz buys $31m stake in China’s mega pension company

Allianz Global Investors (AGI), one of the investment arms of German insurer Allianz, has become the first foreign company to own a stake in China’s pension insurance giant Guomin Pension. AGI was allowed to subscribe to newly issued shares representing 2% in the company, and the stake is worth 228 million yuan ($31.40 million), the pension firm said in a statement issued Monday. Guomin Pension, jointly launched by China’s largest banks and insurers, was established in 2022 to promote… Continue reading German Allianz buys $31m stake in China’s mega pension company

HKIC leads investment in Jiyuan Capital-backed biocomputing firm BioMapBiomap is the second company that HKIC has partnered with after AI unicorn Smar…

The Hong Kong Investment Corporation (HKIC), an investment firm wholly owned by the city-state’s government, has invested in the Beijing-based bio-computing startup BioMap, to supercharge the city’s life sciences development via strategic direct investments. The proceeds will support BioMap in establishing its bio-computing innovation centre and expanding its operations to Hong Kong. HKIC, however, did… Continue reading HKIC leads investment in Jiyuan Capital-backed biocomputing firm BioMapBiomap is the second company that HKIC has partnered with after AI unicorn Smar…

Bluestone raises $12m debt funding from Neo Markets and other India deals worth $681m

Jewellery retailer Bluestone has raised about $12 million (Rs 100 crore) in debt funding from Neo Markets, Entrackr reported. The board at Bluestone has passed a special resolution to issue 10,000 debentures at Rs 1,00,000 each to raise the above-mentioned sum, the report said. Bluestone had reportedly been looking to raise $100 million from Peak… Continue reading Bluestone raises $12m debt funding from Neo Markets and other India deals worth $681m

South Korea’s SK Group looks to exit Vietnam’s Masan, Vingroup: report

South Korean chaebol SK Group is in the process of exiting its investments in two of Vietnam’s biggest companies, Vingroup and Masan Group, the Maeil Business Newspaper reported on Sunday. The media outlet said that SK is looking to secure more than 1 trillion won ($720 million) from the share disposals. The company had injected… Continue reading South Korea’s SK Group looks to exit Vietnam’s Masan, Vingroup: report

Malaysian EWA provider Paywatch bags $30m in credit, equity fundingIt raised $14m in Series A funding and another $16m in credit facilities.

Paywatch, a Malaysian startup that provides earned wage access (EWA) service, has announced raising $30 million in a mix of credit and equity funding. The startup secured $14 million in its Series A funding round, which was anchored by US venture capital investor Third Prime and a consortium of US investors. The equity round was… Continue reading Malaysian EWA provider Paywatch bags $30m in credit, equity fundingIt raised $14m in Series A funding and another $16m in credit facilities.

Indonesian e-commerce firm Blibli buys home decor startup Dekoruma for $70.6m

PT Global Digital Niaga (BELI)—the entity that runs e-commerce player Blibli, online travel agency Tiket.com, and supermarket chain Ranch Market—has acquired home decor startup Dekoruma for 1.16 trillion rupiah (approximately $70.6 million), according to a disclosure to the Indonesian Stock Exchange (IDX). BELI, which is backed by local conglomerate Djarum Group, purchased 26,167 Series C… Continue reading Indonesian e-commerce firm Blibli buys home decor startup Dekoruma for $70.6m