Southeast Asian tech major Grab has announced its collaboration with Microsoft-backed artificial intelligence (AI) company OpenAI to embed advanced AI solutions into its platform in the region. The collaboration, which is the first of its kind for OpenAI in Southeast Asia, will integrate ChatGPT Enterprise, a variant of the ChatGPT model, in a pilot project… Continue reading Grab partners with OpenAI to boost superapp experience with AI
Author: Deal Street Asia Online News
China’s Silk Road Fund selling 9% stake in Italy’s Pirelli through ABB
China’s Silk Road Fund is selling its 9% stake in Italian premium tyre maker Pirelli through a so-called accelerated book building (ABB) procedure, a bookrunner said on Wednesday. The deal comes after the Italian government intervened last year to limit the influence of Pirelli’s largest shareholder, the Chinese state-owned conglomerate Sinochem Group, to preserve national… Continue reading China’s Silk Road Fund selling 9% stake in Italy’s Pirelli through ABB
Malaysia’s pension fund KWAP launches $1.27b PE investment strategy Dana PemacuThe fund will set aside nearly 50% of the corpus for Shariah-compliant …
Malaysia’s public service retirement fund Kumpulan Wang Persaraan (KWAP) has allocated RM6 billion ($1.27 billion) towards its private equity investment strategy under its Dana Pemacu initiative. DealStreetAsia had earlier reported on the upcoming launch of Dana Pemacu. As part of the PE strategy, the fund will set aside nearly 50% of the corpus – RM3… Continue reading Malaysia’s pension fund KWAP launches $1.27b PE investment strategy Dana PemacuThe fund will set aside nearly 50% of the corpus for Shariah-compliant …
Japan Activation Capital looks to raise up to $3.2b to back just over 10 firms
Go to Source
China’s Didi Global sinks into Q1 loss after two profitable quarters
China’s largest ride-hailing company Didi Global fell to a first–quarter net loss after two consecutive quarters of profit, the company said on Wednesday. Didi reported a net loss attributable to shareholders of 1.4 billion yuan ($193.13 million) for the three months to end-March, largely attributing that to a fall in investment income from its stake in Chinese electric vehicle maker Xpeng. It sold its electric car development business to Xpeng in August… Continue reading China’s Didi Global sinks into Q1 loss after two profitable quarters
BlackRock ETF becomes world’s largest bitcoin fund
BlackRock’s iShares Bitcoin Trust has become the world‘s largest fund for the original cryptocurrency, racking up nearly $20 billion in total assets since listing in the US at the start of the year, Bloomberg News reported on Wednesday. The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust’s $19.65 billion, report said, citing data compiled by Bloomberg. BlackRock did not immediately respond to Reuters’ request for… Continue reading BlackRock ETF becomes world’s largest bitcoin fund
India: 360 ONE Asset launches secondary fund with target to raise $480m
360 ONE Asset Management, formerly known as IIFL Asset Management Ltd, has launched a Rs 4,000-crore ($480.2 million) secondary fund—a vehicle that acquires existing stakes in private equity or other investment funds from current investors seeking liquidity. “Over the last decade, $360 billion has been invested in Indian venture capital and private equity, with only… Continue reading India: 360 ONE Asset launches secondary fund with target to raise $480m
GIC-backed India’s Euler Motors closes Series C round with additional $24m fundingBII, Blume Ventures, and new investor Piramal Alternatives participa…
Euler Motors, which is backed by Singapore’s sovereign wealth fund GIC, has closed its Series C funding round with additional funding of Rs 200 crore ($24 million) led by existing investors British International Investment, Blume Ventures and new investor Piramal Alternatives. An automotive OEM focused on electric commercial vehicles, Euler Motors has raised Rs 570… Continue reading GIC-backed India’s Euler Motors closes Series C round with additional $24m fundingBII, Blume Ventures, and new investor Piramal Alternatives participa…
PwC set to become OpenAI’s largest enterprise customer
Accounting giant PwC will become the largest customer and first reseller of OpenAI’s enterprise product as part of a new deal, the Wall Street Journal reported on Wednesday. PwC will roll out ChatGPT Enterprise, a version of the Microsoft-backed AI startup’s chatbot aimed at large companies, the report said. The accounting firm will provide ChatGPT Enterprise to its 75,000 U.S. employees and 26,000 UK employees, the report added. Both… Continue reading PwC set to become OpenAI’s largest enterprise customer
Vietnamese EV maker VinFast to delay $4b US plant again
Vietnamese electric car maker VinFast is looking at further delaying a planned $4 billion factory in North Carolina, a person briefed on the matter said, as the loss-making company struggles to gain favour with U.S. consumers. VinFast announced in 2022 that it would build an EV and battery factory in the United States with an annual production capacity of 150,000 vehicles, seeking to take advantage of… Continue reading Vietnamese EV maker VinFast to delay $4b US plant again