Author: Deal Street Asia Online News

Zepto loads up $665m to take on Blinkit, Instamart in India’s quick commerce war

Zepto has raised $665 million in a funding round valuing the Indian quick commerce at $3.6 billion, as it looks to double its store count amid rising competition and amp up its plans to go public by 2025. The biggest funding round of the year was co-led by existing investors Glade Brook, Nexus, and StepStone,… Continue reading Zepto loads up $665m to take on Blinkit, Instamart in India’s quick commerce war

SoftBank CEO reveals artificial super intelligence ambitions

SoftBank Group CEO Masayoshi Son said on Friday that the group’s mission was to help in humanity’s progress by realising artificial super intelligence, which he said would exceed human capabilities by a factor of 10,000. “SoftBank Group has done many things until now that have all been a warm up for my great dream to… Continue reading SoftBank CEO reveals artificial super intelligence ambitions

Partners Group opens Hong Kong office in Chinese private wealth push

Global private investment firm Partners Group said on Friday it has opened an office in Hong Kong, in a push to expand its private wealth client base in Greater China. The firm, based in Zug, Switzerland, had appointed Henry Chui, its head of private wealth in Asia Pacific, to lead the Hong Kong office, it… Continue reading Partners Group opens Hong Kong office in Chinese private wealth push

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.