Japanese startup Preferred Networks is ramping up investment in customised artificial intelligence chips, seeking to ensure access to critical hardware as advances in generative AI spark a global investment boom. The company, whose investors include automaker Toyota and robot maker Fanuc, began developing its first generation AI chip in 2016 to power its supercomputers. “We… Continue reading Japanese startup Preferred Networks ramps up investment in AI chip designCompanies around the world are scrambling to secure AI chips amid excitement …
Author: Deal Street Asia Online News
Deals Digest: Warburg Pincus forms logistics JV with Korean firm; ESR Japan beefs up real estate portfolio
Warburg Pincus has partnered with MQ Logistics for a logistics and industrial real estate joint venture, while ESR’s Japan arm has completed the acquisition of ESR Aisai Distribution Centre. Warburg Pincus, MQ Logistics set up joint venture Private equity firm Warburg Pincus has partnered with MQ Logistics, a South Korean logistics firm, to set up a… Continue reading Deals Digest: Warburg Pincus forms logistics JV with Korean firm; ESR Japan beefs up real estate portfolio
People Digest: Gaw Capital, BlackRock make key appointments
Hong Kong-based private equity (PE) firm Gaw Capital Partners has appointed Oliver Yates as head of Australia, while global asset manager BlackRock has hired Stephen Allan as head of private credit for Australia and New Zealand. Gaw Capital appoints Oliver Yates as Australia head Hong Kong-based, real estate-focused PE firm Gaw Capital Partners has appointed… Continue reading People Digest: Gaw Capital, BlackRock make key appointments
Omnivore leads $3m funding in Finhaat and India deals worth $73m
Mumbai-based insurance platform Finhaat has raised $3 million in its seed funding round led by Omnivore, with participation from Kettleborough VC, the company said in a statement. Founded in June 2022, Finhaat utilises its proprietary distribution infrastructure to deliver digital insurance services, targeting underserved groups such as rural communities and middle- to low-income populations in… Continue reading Omnivore leads $3m funding in Finhaat and India deals worth $73m
SG’s Novo Tellus closes Fund 3 at $510m, surpasses targetIts third fund signaled an expansion of its geographical mandate to cover the Indo-Pacific re…
Singapore-based private equity firm Novo Tellus has closed its third fund at $510 million, according to a statement on Wednesday. Novo Tellus reached the first close for the vehicle in June 2023 and eventually surpassed its fundraising target by 36%. The PE investor added that all of its existing limited partners (LPs) returned for Novo Tellus… Continue reading SG’s Novo Tellus closes Fund 3 at $510m, surpasses targetIts third fund signaled an expansion of its geographical mandate to cover the Indo-Pacific re…
Temasek-backed Tikehau, Nikko to form strategic partnership in Asia
Paris-headquartered Tikehau Capital and Nikko Asset Management, one of Asia’s largest asset managers, have entered into advanced discussion to form a business and capital alliance, according to an announcement. The two sides will also set up a joint venture dedicated to Asian private markets investment strategies. Within this partnership, Nikko Asset Management would also acquire an… Continue reading Temasek-backed Tikehau, Nikko to form strategic partnership in Asia
Chinese snack chain Lingshi Henmang bags over $155m in strategic funding
Chinese snack shop chain Lingshi Henmang has secured around 1.1 billion yuan ($155.3 million) in a strategic investment from two local snack makers. Yankershop Food has injected 350 million yuan ($49.4 million) in exchange for a 3.3% stake in the firm while Haoxiangni Health Food has pumped in 700 million yuan ($98.8 million) for a… Continue reading Chinese snack chain Lingshi Henmang bags over $155m in strategic funding
iMotion-backer Future Capital sees China’s EV growth driving more IPOsiMotion, a self-driving solutions provider, recently raised $80m in a Hong Kong …
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Indonesian PE firm Capsquare Asia Partners said to be targeting $200m+ for third growth fund
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Viewpoint: A look back at 2023 in VC—marching towards stability, skirting the edge of drama
The author is managing partner at AC Ventures, a Southeast Asian venture capital firm with over $500 million in assets under management. Reflecting on the whirlwind that was 2023, I find myself looking back at a year that was truly as unpredictable as it was instructive. In the global venture capital (VC) industry, there were… Continue reading Viewpoint: A look back at 2023 in VC—marching towards stability, skirting the edge of drama