Accion, a global nonprofit, on Tuesday announced the launch of a $152.5 million fund to invest in financial institutions serving small businesses worldwide. The fund, called Accion Digital Transformation Fund (ADTx), will back companies serving micro, small, and medium enterprises across South and Southeast Asia, Latin America, and Africa. It will be managed by Accion… Continue reading Accion launches $152.5m fund to back financial institutions serving small businesses
Author: Deal Street Asia Online News
Indian insurer Go Digit raises $141m from anchor investors ahead of IPO
Indian insurer Go Digit has raised Rs 1,176 crore ($141 million) from anchor investors, including Fidelity Funds, Goldman Sachs and Abu Dhabi Investment Authority (ADIA), ahead of its initial public offering (IPO). According to a stock exchange filing, more than 56 anchor investors were allotted 4.3 crore shares for Rs 272 per share before the… Continue reading Indian insurer Go Digit raises $141m from anchor investors ahead of IPO
Dunzo-backer Blume Ventures looking to tap India’s greying populationOnly 13 startups in the elderly space in India have been funded by venture/angel …
Dunzo- and Unacademy-backer Blume Ventures is turning its attention towards the elderly in India as the world’s most populous country starts to grey. With an estimated 145 million elderly individuals (aged 60 and above) and a projected 40% surge in this population by 2031, compared to a mere 8% rise in the general populace during… Continue reading Dunzo-backer Blume Ventures looking to tap India’s greying populationOnly 13 startups in the elderly space in India have been funded by venture/angel …
Shexu Technology seals Series A+ round and 39 Greater China deals worth nearly $513m
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SEA Digest: Vietnam’s Masan to divest German asset; SG-based CDL buys Paris hotel
In recent outbound deal activities, Vietnam-based Masan Group has agreed to sell German tungsten powder producer H.C. Starck Holding, while Singapore’s City Developments Limited has acquired the Hilton Paris Opéra hotel from Blackstone. Masan to sell H.C. Starck to Mitsubishi unit Vietnamese conglomerate Masan Group, through its subsidiary Masan High-Tech Materials, will divest German tungsten… Continue reading SEA Digest: Vietnam’s Masan to divest German asset; SG-based CDL buys Paris hotel
IvyCap leads $4.8m funding in Celcius Logistics and other India deals
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Xiaomi becomes 8th largest EV upstart in China after rolling out SU7 sedanThe firm sold more than 7,000 units of its first model in April.
Chinese smartphone maker Xiaomi has become the country’s eighth-largest electric vehicle upstart after selling more than 7,000 units of its first model, the SU7 sedan, in April, according to industry data. Xiaomi‘s strong entry into China‘s crowded EV market is set to further upend the world’s largest auto market, where companies have been locked in a fierce price war amid weakening demand. Xiaomi is already a household name in China for its… Continue reading Xiaomi becomes 8th largest EV upstart in China after rolling out SU7 sedanThe firm sold more than 7,000 units of its first model in April.
TikTok creators go to court against impending sell-or-ban law in US
A group of TikTok creators said Tuesday they filed suit in U.S. federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban it, saying it has had “a profound effect on American life.” The TikTok users suing include a Texas Marine Corps veteran who sells his ranch products, a Tennessee woman selling… Continue reading TikTok creators go to court against impending sell-or-ban law in US
IFC likely to invest $25m in Pakistan’s tyre supplier Armstrong ZE
The International Finance Corporation (IFC), a member of the World Bank Group, is considering an investment of $25 million in Pakistan-based tyre importer and supplier Armstrong ZE to partially finance the setting up of its greenfield tyre manufacturing facility, according to a disclosure. Go to Source
India: Early-stage accelerator 9Unicorns rebrands, launches second fund
9Unicorns, an early-stage accelerator in India, has launched its second investment vehicle, following a rebranding exercise. The firm, now renamed as 100Unicorns, is targeting to raise $200 million, including a green-shoe option of $100 million. The launch of 100Unicorns Fund II highlights the firm’s commitment to nurture the next wave of 200 challenger startups emerging… Continue reading India: Early-stage accelerator 9Unicorns rebrands, launches second fund