Author: Deal Street Asia Online News

HKUST sets up Redbird Innovation Fund to pool $256m for startups in its ecosystem

The Hong Kong University of Science and Technology (HKUST) has set up the Redbird Innovation Fund, looking to collaborate with investment partners and create a pool of venture investment funds (VIFs) with up to HK$2 billion ($256 million) for financing into startups in its ecosystem. The HKUST Redbird Innovation Fund (RIF), a HK$500-million ($64 million)… Continue reading HKUST sets up Redbird Innovation Fund to pool $256m for startups in its ecosystem

Biden sharply hikes US tariffs on billions in Chinese chips, cars

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. Biden will keep tariffs put in place by his… Continue reading Biden sharply hikes US tariffs on billions in Chinese chips, cars

Kotak’s Strategic Situations fund injects $48m in Biorad Medisys amid rising medical device deals

Kotak Investment Advisors Limited (KIAL), the alternative assets arm of Kotak Mahindra Group, on Tuesday said it has invested up to Rs 400 crore ($47.9 million) in medical device manufacturer Biorad Medisys, through its Strategic Situations India Fund II. Biorad Medisys manufactures and sells orthopaedic implants for knees and hips and surgical and consumables focused… Continue reading Kotak’s Strategic Situations fund injects $48m in Biorad Medisys amid rising medical device deals

China’s Big Fund II to back $55m deal in Siasun’s wafer transfer businessThe planned investment marks the first equity financing by Siasun Microelectr…

Shenyang Siasun Microelectronics Equipment, a subsidiary of China’s state-owned robotics manufacturer Siasun Robot & Automation, is raising 400 million yuan ($55.3 million) in its first external equity fundraising. Siasun Microelectronics attracted nine investors in its equity financing by publicly selling shares on the China Beijing Equity Exchange, a Chinese government-run bourse for trading shares of… Continue reading China’s Big Fund II to back $55m deal in Siasun’s wafer transfer businessThe planned investment marks the first equity financing by Siasun Microelectr…

Blackstone teams up with ADIA, GIC for Haldiram Snacks bid: Report

A consortium led by private equity fund Blackstone, along with the Abu Dhabi Investment Authority (ADIA) and GIC of Singapore, submitted a non-binding bid last week to acquire a controlling stake in Haldiram Snacks Food, The Economic Times reported. Haldiram Snacks Food, which is the combined packaged snack and food business of the Delhi and… Continue reading Blackstone teams up with ADIA, GIC for Haldiram Snacks bid: Report

India’s market regulator to tighten rules for SME listings

India’s markets regulator and exchanges will tighten rules for public offers of small and medium enterprises (SMEs), according to two sources, after complaints of misuse of a separate listing platform introduced in 2012 to enable small businesses access the capital markets. The regulator, the Securities and Exchange Board of India (SEBI), is considering raising the… Continue reading India’s market regulator to tighten rules for SME listings

Uber to buy Delivery Hero’s foodpanda delivery business in Taiwan

Ride-hailing company Uber will acquire Delivery Hero’s foodpanda branded takeaway business in Taiwan for $950 million in cash, the companies said on Tuesday. Germany’s Delivery Hero plans to additionally issue 8.42 million new ordinary registered shares which Uber has agreed to purchase for $300 million, the two companies said. Following the move, Uber would hold… Continue reading Uber to buy Delivery Hero’s foodpanda delivery business in Taiwan

OpenAI unveils new AI model as competition heats up

ChatGPT maker OpenAI said on Monday it would release a new AI model called GPT-4o, capable of realistic voice conversation and able to interact across text and image, its latest move to stay ahead in a race to dominate the emerging technology. New audio capabilities enable users to speak to ChatGPT and obtain real-time responses… Continue reading OpenAI unveils new AI model as competition heats up