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…
Author: Deal Street Asia Online News
China’s PDD suffers $40b market cap wipeout after flagging an uncertain marketPDD operates discount platforms Pinduoduo in China and Temu for the inte…
China’s PDD Holdings missed market estimates for quarterly revenue on Monday, and downbeat comments from executives about China’s domestic e-commerce competition and the firm’s global outlook sent its shares down more than 28%. The biggest one-day share fall for PDD since it listed in the U.S. in 2018 wiped out nearly $40 billion in market… Continue reading China’s PDD suffers $40b market cap wipeout after flagging an uncertain marketPDD operates discount platforms Pinduoduo in China and Temu for the inte…
IFC weighs $30m investment in LeapFrog’s latest climate fundLeapFrog Investment is raising $600-700 million for the said fund.
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Mix of domestic, foreign LPs help strengthen investment strategy: BPEA CreditHaving a mix of domestic and global LPs brings diverse perspectives, says…
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Indonesian EV startup IMOTO eyes investments, international expansionThe company plans to explore markets such as India, the Philippines, and Thailand…
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China’s Didi in talks to sell smart driving assets to NavInfo’s unit: reportDidi plans to sell the assets to AutoAi.
China’s Didi Global is in advanced talks to sell its smart driving and cockpit assets to state-backed digital mapping firm NavInfo’s unit, as the ride-hailer focuses on its core business after a bruising regulatory crackdown, three sources said. Didi plans to sell the assets to AutoAi, a provider of intelligent cockpits-related software and hardware, in exchange for a… Continue reading China’s Didi in talks to sell smart driving assets to NavInfo’s unit: reportDidi plans to sell the assets to AutoAi.
Schola rebrands to BrightCHAMPS Vietnam, plans to invest $10m in two yearsBrightCHAMPS, backed by Binny Bansal, had bought Schola for $15m in 2022.
Vietnamese English communications platform Schola has rebranded to BrightCHAMPS Vietnam and announced that it will invest close to $10 million over two years in Vietnam. The move comes after edtech startup BrightCHAMPS, backed by Flipkart co-founder Binny Bansal, bought Schola for $15 million in a cash-and-stock deal in 2022. BrightChamps, which is currently valued at… Continue reading Schola rebrands to BrightCHAMPS Vietnam, plans to invest $10m in two yearsBrightCHAMPS, backed by Binny Bansal, had bought Schola for $15m in 2022.
India Digest: Rebel Foods, Eruditus in talks to raise funds; HouseEazy snags $7mHouseEazy has raised $7m Series A funding in a mix of equity and debt …
Cloud kitchen startup Rebel Foods is reportedly in talks to raise $120 million in a fresh round led by Singapore’s Temasek while Eruditus, an Indian edtech startup, is in the advanced stages of talks to secure about $150 million. Separately, HouseEazy said it has raised $7 million in Series-A funding in a mix of equity… Continue reading India Digest: Rebel Foods, Eruditus in talks to raise funds; HouseEazy snags $7mHouseEazy has raised $7m Series A funding in a mix of equity and debt …
Velocity floats $48m festive season fund for India’s D2C, e-commerce brandsThe cash flow-based financing platform earmarked Rs 250 crore for D2C brand…
Cash flow-based financing platform Velocity announced on Monday the launch of a $48 million (Rs 400 crore) fund to support the financing needs of D2C and e-commerce brands in the upcoming festive season. The cash flow-based financing platform earmarked Rs 250 crore last year for D2C brands—marking a 60% increase this year. The fund will… Continue reading Velocity floats $48m festive season fund for India’s D2C, e-commerce brandsThe cash flow-based financing platform earmarked Rs 250 crore for D2C brand…
Mubadala, CBC Group to buy UCB’s Chinese neurology and allergy business for $680mCBC and Mubadala had co-led a $315m investment in China’s Hasten Biop…
Abu Dhabi sovereign investor Mubadala Investment Company and Asia healthcare-focused asset management firm CBC Group will acquire a 100% stake in UCB Pharma’s neurology and allergy business in China for $680 million. Belgium-headquartered UCB will sell its neurology portfolio of drugs including Keppra, Vimpat, Neupro, and its allergy portfolio of drugs covering Zyrtec, and Xyzal… Continue reading Mubadala, CBC Group to buy UCB’s Chinese neurology and allergy business for $680mCBC and Mubadala had co-led a $315m investment in China’s Hasten Biop…