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
Author: Deal Street Asia Online News
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
Shares of Legend Capital-backed AIoT firm Qunabox rise after HK listing
Shares of Qunabox, a Shanghai-based Artificial Intelligence of Things (AIoT) marketing service provider, have risen by 63% from their initial offer price after three trading sessions. Qunabox’s shares closed at HK$40.9 ($5.24) apiece on Wednesday, compared with their IPO price of HK$25 ($3.20). The company’s scrip had debuted on the HKEX at HK$33 ($4.48) per… Continue reading Shares of Legend Capital-backed AIoT firm Qunabox rise after HK listing
SEA Digest: Apple to enter Malaysia; SG-based Aspire expands to Hong Kong
Apple will open its first retail store in Malaysia on June 22, while Aspire has secured an MSO license in Hong Kong to expand its SME financial services. Apple to open its first retail store in Malaysia Apple Inc has announced on its website that it will open its first retail store in Malaysia at… Continue reading SEA Digest: Apple to enter Malaysia; SG-based Aspire expands to Hong Kong
Ex-OpenAI board member reveals backstory behind CEO Altman’s dramatic ousterOpenAI’s board learned of ChatGPT only when they saw it on Twitter, said H…
OpenAI‘s board only learned of the existence of ChatGPT when they saw it on Twitter, former board member Helen Toner said in an interview on “The Ted AI Show” podcast that aired Tuesday. Toner provided her first detailed account of the backstory behind the dramatic firing and rehiring last November of OpenAI‘s CEO Sam Altman, painting… Continue reading Ex-OpenAI board member reveals backstory behind CEO Altman’s dramatic ousterOpenAI’s board learned of ChatGPT only when they saw it on Twitter, said H…
China regulator quizzes Midea on impact of planned HK listing on Shenzhen shares: report
Home appliance maker Midea Group has been questioned by China’s securities regulator on how a planned $2 billion-plus Hong Kong listing could impact the value of its Shenzhen-listed shares, said three people with direct knowledge of the matter. Midea, based in Foshan city in Guangdong province, applied in October to list no more than 10%… Continue reading China regulator quizzes Midea on impact of planned HK listing on Shenzhen shares: report
Turbostart participates in Flam’s $4.5m funding and other India deals worth $61m
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KKR-SingTel consortium in lead to buy $1b stake in data centre provider STT GDC: reportThe consortium is competing with Stonepeak for the 20% stake.
A consortium of US investment firm KKR and Singapore Telecommunications (SingTel) has emerged as the frontrunner to buy a minority stake worth $1 billion in one of Asia’s biggest data centre providers, two sources said. The potential investment in STT Telemedia Global Data Centres (STT GDC) reflects growing interest and demand for data centres across… Continue reading KKR-SingTel consortium in lead to buy $1b stake in data centre provider STT GDC: reportThe consortium is competing with Stonepeak for the 20% stake.