Swap Energy, an Indonesia-based electric vehicle (EV) startup, has raised about $22 million in a Series A funding round led by Qiming Venture Partners with participation from GGV Capital and existing investor Ondine Capital, show filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). ACRA filings only reflect the equity funding received so far in… Continue reading Indonesian EV startup Swap Energy raises $22m in Series A roundQiming Venture Partners led the round.
Author: Deal Street Asia Online News
Singapore sovereign funds slashed investments by more than half in 2023: Report
Singapore’s sovereign wealth funds (SWFs), GIC and Temasek, slashed their investments by more than half in 2023, while the Gulf funds continued to dominate the charts, according to the Global SWF Annual 2024 report. Saudi’s PIF, which toppled GIC as the lead investor, deployed $31.6 billion across 49 deals in 2023, a whopping 33% more… Continue reading Singapore sovereign funds slashed investments by more than half in 2023: Report
GLP-backed Hidden Hill Capital closes second RMB-denominated PE fund at over $1.1bThe vehicle will invest in modern logistics services, and innovative…
Hidden Hill Capital, the private equity (PE) arm of global logistics giant GLP, has closed its second RMB-denominated PE fund at almost 8 billion yuan (over $1.1 billion), the parent company announced on Tuesday. The new fund attracted capital commitments from both existing and new limited partners (LPs), including insurance firms, industry capital, funds-of-funds (FOFs),… Continue reading GLP-backed Hidden Hill Capital closes second RMB-denominated PE fund at over $1.1bThe vehicle will invest in modern logistics services, and innovative…
Vantage Point: 2024 will see Indonesian tech startups balance growth and profitability goals
The Vantage Point weekly newsletter will be taking a break from your inboxes. In our 108 editions so far, we have presented insights and analysis of key developments related to the digital economy space in SE Asia, particularly Indonesia. You can access all the Vantage Point weekly posts here. We will be back with updates… Continue reading Vantage Point: 2024 will see Indonesian tech startups balance growth and profitability goals
DFC approves loan to Indonesian geothermal producer Medco Cahaya
US development bank International Development Finance Corporation (DFC) has approved more than $126 million worth of investments in companies based in, or focused on, Asia, including India. The deals were part of the $3.3 billion that DFC approved at the board and sub-board levels during its fiscal first quarter of financial year 2024 (Q1 FY2024),… Continue reading DFC approves loan to Indonesian geothermal producer Medco Cahaya
VC activity to see uptick in Asia in 2024 but investors will continue to exercise caution
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Strong growth from ChatGPT boosts OpenAI’s annualised revenue to over $1.6b: reportOpenAI’s annualised revenue has stood at $1.3b as of mid-October, t…
FILE PHOTO: OpenAI logo is seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo OpenAI‘s annualised revenue recently topped $1.6 billion on strong growth from its ChatGPT product, up from $1.3 billion as of mid-October, the Information reported on Saturday citing people with the knowledge of the figure. Reuters Printed by Unregistered user… Continue reading Strong growth from ChatGPT boosts OpenAI’s annualised revenue to over $1.6b: reportOpenAI’s annualised revenue has stood at $1.3b as of mid-October, t…
Indonesia’s No. 2 telco Indosat seeks to transform into tech company
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FTX founder Sam Bankman-Fried will not face a second trialProsecutors said the “strong public interest” in a prompt resolution of their case against S…
U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court in Manhattan, prosecutors said the “strong public interest” in a prompt resolution of their case… Continue reading FTX founder Sam Bankman-Fried will not face a second trialProsecutors said the “strong public interest” in a prompt resolution of their case against S…
China’s central bank agrees Ant Group’s Alipay has no controller
China’s central bank has agreed that popular payment app Alipay has no controller following a sweeping business overhaul of Jack Ma’s Ant Group, the fintech giant that owns the app, according to the website of the People’s Bank of China. In January, Ant Group said its founder Jack Ma will no longer control the fintech… Continue reading China’s central bank agrees Ant Group’s Alipay has no controller