Author: Deal Street Asia Online News

Tower Capital Asia picks up stake in SG specialty chemicals firm WWRCThe deal is a combination of primary and secondary transactions, per regulatory f…

Singapore-based mid-market private equity (PE) firm Tower Capital Asia on Tuesday announced an unspecified investment in specialty chemicals distributor WWRC Holding.  Founded as Fu Yuan Enterprise by CJ Teng in 1980, WWRC provides product sourcing, logistics, distribution, R&D and technical support services to businesses in industries such as oil and gas, plastics, and personal care.… Continue reading Tower Capital Asia picks up stake in SG specialty chemicals firm WWRCThe deal is a combination of primary and secondary transactions, per regulatory f…

Australian pension fund Aware Super buys stake in euNetworks to tap AI boomThe investment was made via a vehicle led by Stonepeak.

Australian pension fund Aware Super said on Tuesday it has acquired a minority stake in London-headquartered bandwidth infrastructure company euNetworks, in a bid to tap into the artificial intelligence boom. It invested in euNetworks via a vehicle led by global infrastructure and real assets manager Stonepeak, and others including Investment Management Corporation of Ontario and APG Asset Management.… Continue reading Australian pension fund Aware Super buys stake in euNetworks to tap AI boomThe investment was made via a vehicle led by Stonepeak.

Swiggy-backer Accel seeks to close eighth fund at $700m by year end: ReportThe firm is targeting a minimum of $600 million for the eighth fund.

Silicon Valley venture capital firm Accel, which has backed Indian startups such as Flipkart and Swiggy, is expected to close its eighth India-focused fund by the end of the year, the Arc reported on Tuesday. The firm is targeting a minimum of $600 million for the eighth fund. The report added that the fund size… Continue reading Swiggy-backer Accel seeks to close eighth fund at $700m by year end: ReportThe firm is targeting a minimum of $600 million for the eighth fund.

Hong Kong lowers listing threshold for tech firms, SPAC dealsThe modifications will apply for a fixed period of three years from September 1, 2024.

Hong Kong’s stock exchange operator has issued new rules to lower the listing threshold for specialist technology companies and special-purpose acquisition companies (SPACs). Hong Kong Exchanges and Clearing (HKEX) plans to lower the market capitalisation bar to make it easier for yet-to-be-profitable tech companies to pursue an initial public offering (IPO) in the city. Separately,… Continue reading Hong Kong lowers listing threshold for tech firms, SPAC dealsThe modifications will apply for a fixed period of three years from September 1, 2024.

Keppel Infrastructure Trust eyes raising $153m via private placementKIT will issue between 456.6 million and 469.5 million new units to eligible inves…

Singapore-listed Keppel Infrastructure Trust (KIT) is set to launch an equity funding exercise to raise at least S$200 million ($153 million) via private placement of shares, according to an announcement. KIT said it will issue between 456.6 million and 469.5 million new units to eligible institutional and other investors at a price range of between… Continue reading Keppel Infrastructure Trust eyes raising $153m via private placementKIT will issue between 456.6 million and 469.5 million new units to eligible inves…

India Digest: GVK scion Keshav Reddy’s Equal backs One Money; Convin bags $6.5mConvin’s Series A round was led by India Quotient.

ID-sharing platform Equal, founded by Keshav Reddy, a scion of the GVK Group family, has made a strategic investment in India’s account aggregator OneMoney, for an undisclosed amount. Separately, AI platform Convin has raised $6.5 million in a Series A round led by India Quotient. GVK scion Keshav Reddy’s Equal invests in One Money ID-sharing… Continue reading India Digest: GVK scion Keshav Reddy’s Equal backs One Money; Convin bags $6.5mConvin’s Series A round was led by India Quotient.

Warburg sells stake in India’s MedPlus Health to SG government, ICICI PruThe shares were worth around $100m.

Private equity firm Warburg Pincus, through its Mauritius-based unit Lavender Rose Investment Ltd, has offloaded its stake in India’s MedPlus Health Services for Rs 836 crores (around $100 million), according to bulk deal data available on the National Stock Exchange (NSE). Warburg Pincus offloaded 1.3 million shares at Rs 616.48, per share. The Singapore government… Continue reading Warburg sells stake in India’s MedPlus Health to SG government, ICICI PruThe shares were worth around $100m.

Bank of China sets up $4.21b FOF to invest in homegrown tech innovationsBank of China commands a market cap of $21b as one of the world’s biggest comm…

Bank of China (BOC), a wholly state-owned commercial bank, has officially set up a fund-of-funds (FOF) to invest up to 30 billion yuan ($4.21 billion) in technological innovations in China’s private market. BOC, which commands a market cap of HK$1.64 trillion ($210.3 billion) as one of the world’s biggest banks, introduced the gigantic FOF to… Continue reading Bank of China sets up $4.21b FOF to invest in homegrown tech innovationsBank of China commands a market cap of $21b as one of the world’s biggest comm…