Trustar Capital has raised $1 billion for a continuation fund that will hold the Chinese private equity firm’s controlling stake in McDonald Corp’s operations in mainland China and Hong Kong, two sources with knowledge of the matter said. A continuation fund is a new vehicle created by a private equity (PE) firm to transfer holdings of existing investments. The concept has gained traction in Asia in… Continue reading Trustar raises $1b continuation vehicle to hold McDonald’s China stakeQatar Investment Authority has committed the biggest amount to become the anchor…
Author: Deal Street Asia Online News
OneCell Diagnostics raises $16m led by Celesta Capital and other India dealsThe funding also saw participation from Tenacity Ventures, Cedars Sinai, E…
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SaaS startup Podium raises $15.2m in Series A-1 fundingThe round was anchored by design and software solutions firm Autodesk.
Podium, a Singapore-founded cloud-based digital platform for industrialised construction, has announced raising S$20.4 million (about $15.3 million) in its Series A-1 funding round anchored by design and software solutions firm Autodesk. Elevators and escalators provider Schindler and Australian real estate firm Lendlease backed the round. Podium said the fresh funds will help it expand in… Continue reading SaaS startup Podium raises $15.2m in Series A-1 fundingThe round was anchored by design and software solutions firm Autodesk.
US hedge funds pile into China’s JD.com, GDS: GoldmanTheir exposure to US-listed Chinese stocks rose to the highest level since late 2021.
U.S. hedge funds raised their investments in U.S.-listed Chinese firms in the third quarter, with e-commerce retailer JD.com and data centre operator GDS Holdings leading the purchases, a Goldman Sachs note reviewed by Reuters showed. U.S. hedge funds’ exposure to Chinese stocks traded in the world’s largest capital market, rose to the highest level since… Continue reading US hedge funds pile into China’s JD.com, GDS: GoldmanTheir exposure to US-listed Chinese stocks rose to the highest level since late 2021.
Bain-backed Japanese chipmaker Kioxia’s market value set at $5bThe chipmaker is set to receive listing approval from the Tokyo bourse on Friday
Bain-backed Kioxia will have a market value of about 750 billion yen ($4.84 billion) based on the indicative price for its initial public offering, with the chipmaker to receive listing approval from the Tokyo bourse on Friday, two sources said. The market value, which Reuters is reporting for the first time, could change depending on… Continue reading Bain-backed Japanese chipmaker Kioxia’s market value set at $5bThe chipmaker is set to receive listing approval from the Tokyo bourse on Friday
Navis Capital introduces new structure in second continuation fundThree K-12 schools are being transferred into the new fund.
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Korea’s Hanwha Life to acquire 75% of US financial firm Velocity ClearingThe management of Velocity will retain the remaining stake.
Hanwha Life, a life insurer under the South Korean conglomerate Hanwha Group, said it has agreed to acquire a 75% stake in the parent company of US-based financial services firm Velocity Clearing. The management team of Velocity Clearing will retain the remaining minority stake, Hanwha Life said in a statement. Financial terms of the deal… Continue reading Korea’s Hanwha Life to acquire 75% of US financial firm Velocity ClearingThe management of Velocity will retain the remaining stake.
Vietnamese behemoth Vingroup establishes $39m robotics company VinRoboticsVingroup holds a 51% ownership in the company.
Vietnamese behemoth Vingroup has established VinRobotics Research, Development and Application Company, with a charter capital of 1,000 billion dong ($39.3 million), according to an announcement. VinRobotics is set to boost production efficiency and streamline processes across various industries, services, and daily life. Vingroup holds a 51% ownership in the company, while billionaire Pham Nhat Vuong… Continue reading Vietnamese behemoth Vingroup establishes $39m robotics company VinRoboticsVingroup holds a 51% ownership in the company.
Chinese robotaxi firm Pony AI eyes up to $260m in upsized US IPOIt is targeting a valuation of up to $4.55b in its upsized offering
Chinese autonomous driving firm Pony AI said on Wednesday it was targeting a valuation of up to $4.55 billion in its upsized initial public offering in the United States. The company is now aiming to raise as much as $260 million in the IPO by offering 20 million American depositary shares (ADSs) priced between $11… Continue reading Chinese robotaxi firm Pony AI eyes up to $260m in upsized US IPOIt is targeting a valuation of up to $4.55b in its upsized offering
Investors in Asia see ‘true alpha’ returns amid market volatilityUnder-penetrated private assets are seen to be creating such returns in the region.
Private market investors in Asia are seeing investments with ‘true alpha’ returns — the excess return of an asset than its benchmark — despite the ongoing market volatility, according to some of the region’s top investors. “What we see in Asia, and what some investors are looking for in Asia, is what we call true… Continue reading Investors in Asia see ‘true alpha’ returns amid market volatilityUnder-penetrated private assets are seen to be creating such returns in the region.