Indian homegrown private equity (PE) firm ChrysCapital has announced an investment of up to $100 million in New Delhi-headquartered Centre for Sight, signalling increased investor interest in single-speciality hospital chains in the country. The deal is a combination of primary and secondary transactions. The PE behemoth has picked up existing backer Mahindra Holdings’s entire stake… Continue reading ChrysCapital investing up to $100m in Indian eye care chain Centre for Sight
Author: Deal Street Asia Online News
Sea Ltd dives into losses in Q1 2024 despite strong revenue growth
NYSE-listed Sea Ltd saw a 23% year-on-year (YoY) jump in revenue to $3.7 billion during the Jan-March quarter from $3 billion during the same period last year, according to the company’s quarterly financial report. Its total adjusted EBITDA for the quarter, however, fell 21% to $401 million from $507.2 million in Q1 2023, although it… Continue reading Sea Ltd dives into losses in Q1 2024 despite strong revenue growth
Tencent’s Q1 revenue growth beats estimates as ad sales, business services shineRevenue reached $22.04 billion for the three months ended March 31.
China’s Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 159.5 billion yuan ($22.04 billion) for the three months ended March 31. That compared… Continue reading Tencent’s Q1 revenue growth beats estimates as ad sales, business services shineRevenue reached $22.04 billion for the three months ended March 31.
People Digest: True North exec steps down; Ex-WestBridge exec launches VC firm; MoneyHero appoints CFO
Indian private equity (PE) firm True North has reportedly lost a managing partner, while a former WestBridge Capital executive has floated a new venture capital (VC) firm. True North managing partner steps down Kapil Singhal, a managing partner at PE firm True North responsible for its private credit strategy, has stepped down, according to a… Continue reading People Digest: True North exec steps down; Ex-WestBridge exec launches VC firm; MoneyHero appoints CFO
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