Author: Deal Street Asia Online News

Accel raises $650m to invest in AI, cybersecurity startups

Venture capital firm Accel said on Tuesday it has raised a $650 million fund to invest in early-stage companies in Europe and Israel with a focus on artificial intelligence and cybersecurity. The new fund will be Accel’s eighth since opening its London office in 2000. Accel has so far backed more than 200 companies across… Continue reading Accel raises $650m to invest in AI, cybersecurity startups

PE firm Permira to take Squarespace private in all-cash deal valued at $6.9b

Private equity firm Permira will take Squarespace private in an all–cash deal valued at about $6.9 billion, the website-design platform said on Monday. Shares of the company, which helps businesses and individuals build, design websites and create e-commerce stores, rose nearly 12% in premarket trading. Permira‘s offer price of $44 per share, represents a 15.2% premium to the stock’s last closing price on Friday. The… Continue reading PE firm Permira to take Squarespace private in all-cash deal valued at $6.9b

Micro-finance lender Annapurna Finance raises $75m from Piramal Alternatives

Piramal Alternatives, a unit of the Ajay Piramal-controlled Piramal Group, on Monday said it has invested $75 million in micro-finance lender Annapurna Finance. Odisha-based Annapurna operates in 450 districts across 20 states, with assets under management of over $1.25 billion as of March 31, 2024. Annapurna Finance has also diversified its portfolio in MSME finance… Continue reading Micro-finance lender Annapurna Finance raises $75m from Piramal Alternatives

Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

China’s Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.77 billion yuan ($935.9 million) for the quarter ending March 31. Analysts were expecting revenue of 6.63 billion yuan, according to LSEG data. The company has capitalised on its position as the largest… Continue reading Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

SEA Digest: Climate Impact X, XREX line up new productsXREX has obtained a Major Payment Institution Licence from the Monetary Authority of Singapore.

Climate Impact X is set to launch a new market intelligence service in the coming months, while digital asset firm XREX has obtained a Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore.   Climate Impact X to launch market intelligence service Temasek-backed carbon exchange Climate Impact X is set to launch a new market… Continue reading SEA Digest: Climate Impact X, XREX line up new productsXREX has obtained a Major Payment Institution Licence from the Monetary Authority of Singapore.

SoftBank records second straight profitable quarter in Q4

Japanese technology giant SoftBank Group swung to a quarterly profit on Monday versus the year earlier, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The result mark the second straight quarter of profit for SoftBank, which has been long known for both volatile earnings and outsized bets on technology… Continue reading SoftBank records second straight profitable quarter in Q4