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Author: Deal Street Asia Online News
At $1.84b, early-stage funding in India falls 48% in Jan-Sept 2023
Even as India-focused venture capital (VC) firms shifted their focus to fund early-stage businesses to create a healthier pipeline of deals this year, the amount they pumped into startups in the first nine months of this year is 48% lower than the year-ago period. Go to Source
OYO-backer alternate credit platform Blacksoil raises $40m in debtBlacksoil’s portfolio includes unicorns such as Upstox, Slice, MobiKwik, and Udaan, …
Alternative credit platform Blacksoil, which has backed Indian unicorns such as OYO and Spinny, on Tuesday said it recently raised about $40 million in debt through various financial instruments including non-convertible debentures (NCDs) and term loans from banks. Blacksoil co-founder Ankur Bansal said the funds raised are primarily at the firm’s NBFC level, and the… Continue reading OYO-backer alternate credit platform Blacksoil raises $40m in debtBlacksoil’s portfolio includes unicorns such as Upstox, Slice, MobiKwik, and Udaan, …
Indonesia’s Saratoga sinks into the red in 9M 2023, driven by investment losses
Indonesia-listed investment firm PT Saratoga Investama Sedaya Tbk slipped into the red in the first nine months of this year, driven by a significant loss on investments, filings showed. In 9M 2023, Saratoga posted a net loss of 10.6 trillion rupiah ($668 million), compared with a net profit of 7.15 trillion rupiah in 9M 2022,… Continue reading Indonesia’s Saratoga sinks into the red in 9M 2023, driven by investment losses
India’s SBI Card, Reliance’s retail unit to launch new credit card
SBI Cards and Payment Services and the retail unit of billionaire Mukesh Ambani’s Reliance are set to launch a co-branded credit card on India’s homegrown RuPay payment network, the companies said on Tuesday. The partnership marks Reliance’s foray into the credit card space and comes months after Ambani separately listed its financial services business as… Continue reading India’s SBI Card, Reliance’s retail unit to launch new credit card
Hong Kong’s Animoca Brands bags $50m from Saudi’s Neom
Saudi Arabia’s NEOM Investment Fund has proposed to invest $50 million in Animoca Brands, a Hong Kong-based gaming software firm and Web3 investment powerhouse. Half of the investment, or $25 million, will be raised via issuing convertible notes at a conversion cap price of A$4.5 per share, while the remaining $25 million will be raised… Continue reading Hong Kong’s Animoca Brands bags $50m from Saudi’s Neom
Renault had ‘friendly’ discussions with Chinese investment bank CICCThey reached a preliminary intention to jointly establish an investment fund.
French carmaker Renault had “friendly” discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. “A meeting took place between CICC and Renault Group for friendly discussions about China’s market,” a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on… Continue reading Renault had ‘friendly’ discussions with Chinese investment bank CICCThey reached a preliminary intention to jointly establish an investment fund.
KKR said to be eyeing $2.5b for second Asia-focused real estate fund
Private equity powerhouse KKR is currently in the market to raise its second real estate fund for Asia with a target of up to $2.5 billion, according to a Bloomberg report which cited sources close to the matter. The latest installment of KKR’s Asian real estate fund series has gathered $600 million since late 2022.… Continue reading KKR said to be eyeing $2.5b for second Asia-focused real estate fund
Tikehau Capital-backed SPAC Pegasus Asia is still in talks over a possible merger
Pegasus Asia, a Singapore-based special purpose acquisition company backed by alternative asset manager Tikehau Capital, said on Tuesday that it is still in discussions over a possible business combination. The shell company said “any transaction will require the execution of definitive binding legal agreements on mutually acceptable terms, due diligence, regulatory and third party approval,… Continue reading Tikehau Capital-backed SPAC Pegasus Asia is still in talks over a possible merger
Taiwan’s Powerchip to set up $5.4b fab unit in north JapanTaiwan’s TSMC has become increasingly positive about Japan as a base for production.
Taiwanese chipmaker Powerchip Semiconductor Manufacturing Corp and Japanese financial firm SBI Holdings said on Tuesday they have selected Miyagi prefecture in northern Japan as the location for a planned $5.4 billion foundry. While the project has yet to receive government subsidies, Reuters reported this month that talks were progressing in what would become the latest commitment by Taiwanese… Continue reading Taiwan’s Powerchip to set up $5.4b fab unit in north JapanTaiwan’s TSMC has become increasingly positive about Japan as a base for production.