Author: Deal Street Asia Online News

Peak XV trims $2.85b fund citing ‘richly priced public market’ in IndiaAs part of Sequoia, Peak XV raised $2.8 billion in 2022 — including $2 billion …

Peak XV, one of the largest venture capital firms in India and Southeast Asia, announced that it is reducing the size of its $2.85-billion fund by 16%, attributing the decision to soaring valuations in a richly priced public market. In a LinkedIn post on Wednesday morning, Peak XV said, “In the context of a richly… Continue reading Peak XV trims $2.85b fund citing ‘richly priced public market’ in IndiaAs part of Sequoia, Peak XV raised $2.8 billion in 2022 — including $2 billion …

Indonesian automotive platform Broom bags $25m funding led by OpenspaceOpenspace led the firm’s $10m pre-Series A funding announced in March 2023.

Broom, an Indonesian digital automotive startup, has raised $25 million in an extended Series A round led by existing backer Openspace Ventures, according to a statement on Tuesday. The round also saw participation from other existing investors, including AC Ventures, Quona Capital, MUFG Innovation Partners, and PKSHA Capital. Additionally, the company secured credit facilities from… Continue reading Indonesian automotive platform Broom bags $25m funding led by OpenspaceOpenspace led the firm’s $10m pre-Series A funding announced in March 2023.

Asia Digest: UAE’s Podeo raises $5.4m; Indonesian D2C brand SYCA ceases operationSYCA was backed by Salt Ventures.

Podeo, a UAE-based podcast distribution platform, has raised $5.4 million in a Series A round led by Oraseya Capital, while Indonesian D2C brand SYCA announced it will cease operations by Oct. 15, 2024. UAE’s podcast startup Podeo secures $5.4m funding Podeo, a UAE-based podcast distribution platform has announced a $5.4 million series A round. The… Continue reading Asia Digest: UAE’s Podeo raises $5.4m; Indonesian D2C brand SYCA ceases operationSYCA was backed by Salt Ventures.

JD.com kickstarts process to spin off industrials unit ahead of HK listingJingdong Industrials had planned to raise $1b on HKEX last year.

China’s Jingdong Industrials, part of e-commerce giant JD.com, has renewed its Hong Kong initial public offering ambitions, lodging an application with the city’s stock exchange to carry out a share offering, according to regulatory filings. JD.com announced in March last year it would spin out its industrial and property businesses into separate businesses but neither… Continue reading JD.com kickstarts process to spin off industrials unit ahead of HK listingJingdong Industrials had planned to raise $1b on HKEX last year.

Singapore’s Azalea closes two funds above target raising a combined $480mACF I and AGF I closed at $268m and $212m, respectively.

Singapore-based Azalea Investment Management has secured the final closes of two funds—Altrium Co-Invest Fund I (ACF I) and Altrium Growth Fund I (AGF I)—raising a combined $480 million. Both the funds surpassed their target of $200 million each. According to an announcement on Oct. 1, ACF I received $268 million and AGF I closed with… Continue reading Singapore’s Azalea closes two funds above target raising a combined $480mACF I and AGF I closed at $268m and $212m, respectively.

Partners Group-backed KinderCare seeks up to $3.1b valuation in long-sought US IPOKinderCare is aiming to raise up to $648m by offering 24m shares at …

KinderCare Learning Companies, a provider of early childhood education, set a target of up to $3.09 billion valuation on Monday for its long–sought U.S. initial public offering. The 55-year-old company, backed by Swiss private equity firm Partners Group, is moving towards a listing after previously pursuing it in 2021. KinderCare is aiming to raise up to $648 million by offering 24 million shares at a price range of $23 and $27 each.… Continue reading Partners Group-backed KinderCare seeks up to $3.1b valuation in long-sought US IPOKinderCare is aiming to raise up to $648m by offering 24m shares at …

Bain launches tender offer to take private Japanese mobile retailer T-GaiaT-Gaia’s major shareholders are Sumitomo Corp and Hikari Tsushin.

Bain Capital on Monday launched a tender offer for Japanese cell phone retailer T-Gaia at 2,670 yen per share, a 26.5% discount to T-Gaia’s Friday close price. Bain Capital has agreed with T-Gaia’s major shareholders Sumitomo Corp and Hikari Tsushin to take the company private, T-Gaia said in a corporate disclosure. Bain will spend a… Continue reading Bain launches tender offer to take private Japanese mobile retailer T-GaiaT-Gaia’s major shareholders are Sumitomo Corp and Hikari Tsushin.