Author: Deal Street Asia Online News

Investment firm Hamilton Lane closes Secondary Fund VI at $5.6b

Hamilton Lane raised $5.6 billion as part of its Hamilton Lane Secondary Fund VI, exceeding its initial target, the investment management company said late on Tuesday. The fundraising, the biggest in the firm’s history, saw strong support from a diverse group of new and existing investors with the fund exceeding its $5 billion target, the… Continue reading Investment firm Hamilton Lane closes Secondary Fund VI at $5.6b

China’s United Hydrogen to list on Nasdaq via $1.6b blank-check dealThe deal with Aimei Health Technology will make it one of the few China-based firm…

Green energy company United Hydrogen Group said on Thursday it would be listing its shares on the Nasdaq via a blank-check merger that values the company at $1.6 billion. The deal with blank-check firm Aimei Health Technology will make United Hydrogen one of the few China-based companies rushing to U.S. bourses after tensions eased between… Continue reading China’s United Hydrogen to list on Nasdaq via $1.6b blank-check dealThe deal with Aimei Health Technology will make it one of the few China-based firm…

SE Asia’s Tech M&A boom cools off, more corrections on the horizon

Following peak activity in 2022, Southeast Asia witnessed a notable decline in mergers and acquisitions (M&As) of tech companies in 2023. Deal volumes plummeted by over a third as global economic challenges prompted investors to become more selective, according to DealStreetAsia’s latest report SE Asia Tech M&A Review 2024. The first five months of 2024… Continue reading SE Asia’s Tech M&A boom cools off, more corrections on the horizon

US VC General Catalyst acquires Indian peer Venture Highway

General Catalyst, a US-headquartered venture capital firm, has announced its acquisition of early-stage-focused Indian peer Venture Highway, confirming DealStreetAsia’s report in January. The merger will lead General Catalyst’s initiatives in India not just in venture investing but also in nurturing deep tech talent, fostering innovation, and accelerating digitisation across industries, per the announcement. Financial details… Continue reading US VC General Catalyst acquires Indian peer Venture Highway

Carlyle, KKR top bidders for Discover’s $10b US student loan portfolioOther PE firms had also studied bids for the loan portfolio.

Private equity firms Carlyle Group Inc and KKR are the top bidders for US credit card issuer Discover Financial’s $10 billion US student loan portfolio, the Financial Times reported on Thursday. The two are “working together” for the bid as private investment firms seek to expand their appetite for credit, the newspaper reported. The report… Continue reading Carlyle, KKR top bidders for Discover’s $10b US student loan portfolioOther PE firms had also studied bids for the loan portfolio.

India’s financial watchdog fines Binance for flouting anti-money laundering norms

India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on the world’s largest crypto exchange, Binance, for operating in the country in violation of local anti-money laundering regulations. India requires virtual digital asset service providers like crypto exchanges to be registered with the FIU as a reporting entity and… Continue reading India’s financial watchdog fines Binance for flouting anti-money laundering norms

SoftBank to ramp up US power business for generative AI

Japan’s SoftBank Group will ramp up its power generation business primarily in the United States to supply power to generative artificial intelligence projects worldwide, founder Masayoshi Son said on Thursday. SoftBank Group-backed SB Energy develops and operates renewable electricity businesses across the United States. Son also said the group will look for “seeds of new… Continue reading SoftBank to ramp up US power business for generative AI

BPEA Credit hits first close of Select Short Term Income Fund

Asian mid-market performing credit platform BPEA Credit has hit the first close of its Select Short Term Income Fund-I (SSTIF-I), with a target fund size of Rs 750 crore. While the fund declined to disclose the amount raised in the first close, a report by The Economic Times has pegged it at around Rs 375… Continue reading BPEA Credit hits first close of Select Short Term Income Fund

Norfund provides $30m convertible loan to Vietnam-based SeABank

Norwegian development finance institution Norfund will invest $30 million in Vietnam-based Southeast Asia Commercial Bank (SeABank) through a convertible loan. The loan can be converted into common shares of SeABank within a four-year term, the Vietnamese lender said in a statement. The investment will provide additional capital to support SeABank’s retail banking customers and micro, small… Continue reading Norfund provides $30m convertible loan to Vietnam-based SeABank