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Author: Deal Street Asia Online News
China Digest: Qiming names managing partner; PhiGent raises $30m
Qiming Venture Partners has promoted Alex Zhou as a managing partner to spearhead investments in frontier technologies. Separately, autonomous driving solutions developer PhiGent Robotics has secured $30 million in a Series Pre-B funding round. Qiming names Alex Zhou managing partner Venture capital (VC) firm Qiming Venture Partners has promoted Alex Zhou as a managing partner… Continue reading China Digest: Qiming names managing partner; PhiGent raises $30m
SEC approves applications from US bourses to list spot ether ETFs
The US Securities and Exchange Commission (SEC) on Thursday approved applications from Nasdaq, CBOE and NYSE to list exchange-traded funds (ETFs) tied to the price of ether, potentially paving the way for the products to begin trading later this year. While the ETF issuers also have to get the green light before the products can… Continue reading SEC approves applications from US bourses to list spot ether ETFs
xAI looks to raise $6b in Andreessen Horowitz-backed funding round: FT
Elon Musk’s artificial intelligence startup, xAI, is seeking to raise close to $6 billion in a funding round backed by Silicon Valley heavyweights including Andreessen Horowitz, the Financial Times reported on Thursday. The round also includes commitments from Sequoia Capital and Tribe Capital, the report said, citing people familiar with the negotiations. It would value… Continue reading xAI looks to raise $6b in Andreessen Horowitz-backed funding round: FT
SpaceX weighs tender offer at $200b valuation: report
Elon Musk’s SpaceX has initiated discussions about selling existing shares in a deal that could value the company at roughly $200 billion, Bloomberg News reported on Thursday, citing people familiar with the matter. The valuation would be higher than the $180 billion it had fetched in its previous tender offer, the report said, adding that… Continue reading SpaceX weighs tender offer at $200b valuation: report
Despite strong potential, Sharia finance faces uphill task in Indonesia
Despite its predominantly Muslim population, Sharia finance has been unable to make significant inroads into Indonesia, with a less than 10% market share, mostly due to a lack of trust, absence of a payment ecosystem, and a dearth of sophisticated offerings. Go to Source
Asia Digest: Mighty Jaxx said to have raised funds; Bangladesh’s Shomvob raises $1mSunova Capital and East Ventures backed Mighty Jaxx.
Singapore’s Mighty Jaxx has reportedly raised $11 million in a Series A+ round to expand its collectible design business in the US and Europe, while Shomvob has secured $1 million in pre-seed funding to enhance HR tech in Bangladesh. Mighty Jaxx raises additional $11m in Series A+ round Mighty Jaxx, a Singapore-based design studio specialising… Continue reading Asia Digest: Mighty Jaxx said to have raised funds; Bangladesh’s Shomvob raises $1mSunova Capital and East Ventures backed Mighty Jaxx.
Alibaba’s Sun Art supermarket drowns in red amid China’s weak consumer demand
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KKR inks $133m private credit loan deal for accounting software firm MYOB
Global private equity giant KKR has inked a deal with private credit lenders for a loan of approximately A$200 million ($133 million) for Australian accounting software firm MYOB Ltd, Bloomberg reported. KKR acquired the accounting firm back in 2019. The deal with private credit lenders will have a payment-in-kind (PIK) feature, which allows interest to… Continue reading KKR inks $133m private credit loan deal for accounting software firm MYOB
India’s digital fitness startup Portl gets $3m leg up from Bharat Innovation FundThe funding also saw participation from existing investor Kalaari Cap…
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