Author: Deal Street Asia Online News

China Digest: KHAT, Huaqiu Electronics secure funds; HighLight Capital backs ITMAuto parts maker KHAT has bagged over $63m.

Auto parts maker KHAT has bagged over $63 million in a Series D1 round, while Huaqiu Electronics has raised almost $44 million. In a separate development, HighLight Capital has invested in German radiopharmaceutical firm ITM. Auto parts maker KHAT bags over $63m KH Automotive Technologies, also known as KHAT, which produces air suspension systems for… Continue reading China Digest: KHAT, Huaqiu Electronics secure funds; HighLight Capital backs ITMAuto parts maker KHAT has bagged over $63m.

SEA Digest: OpenAI opens SG office; TransTRACK reported to be in talks to buy ID firmOpenAI opened its first Asian office in Japan in April.

OpenAI, the operator of ChatGPT, will open its second office in Asia in Singapore, while TransTRACK, an Indonesian fleet tracking startup, is in talks to acquire a majority stake in a local port and fleet management firm, TechInAsia reported on Thursday (Oct. 10). OpenAI opens Singapore office OpenAI, the operator of ChatGPT, will open its… Continue reading SEA Digest: OpenAI opens SG office; TransTRACK reported to be in talks to buy ID firmOpenAI opened its first Asian office in Japan in April.

SG-based thermal sensors provider Meridian Innovation raises $12.5m in fundingMoveon, TCVC, and Hong Kong Science and Technology Parks Corporation are…

Singapore-based thermal imaging sensors maker Meridian Innovation has raised $12.5 million in a new funding round, per an announcement. New investors, including Hong Kong Science and Technology Parks Corporation (HKSTP), Taiwan Cooperating Venture Capital (TCVC), and Moveon, backed the round. Return backers SEEDS Capital, Creative Technology Ltd, and PlanetSpark also participated. The proceeds will enable… Continue reading SG-based thermal sensors provider Meridian Innovation raises $12.5m in fundingMoveon, TCVC, and Hong Kong Science and Technology Parks Corporation are…

Emtek picks up another 9.54% direct stake in Bukalapak for $75mEmtek now holds a 10.36% direct stake in Bukalapak and another 24.62% through its arm.

Indonesian conglomerate PT Elang Mahkota Teknologi Tbk (Emtek) has increased its stake in e-commerce giant PT Bukalapak.com Tbk. According to a disclosure on the Indonesia Stock Exchange (IDX), Emtek bought an additional 9.54% stake in Bukalapak, raising its total ownership to 10.36%. The company purchased the shares at 120 rupiah per share, translating to a… Continue reading Emtek picks up another 9.54% direct stake in Bukalapak for $75mEmtek now holds a 10.36% direct stake in Bukalapak and another 24.62% through its arm.

India’s new rules may encourage more home listings by foreign-domiciled startupsForeign-based firms no longer need a nod for a “reverse flip” merger w…

India’s scrapping of a time-consuming compliance step will accelerate the pace at which Indian startups domiciled abroad shift back home to participate in the country’s listing boom, according to bankers, lawyers and investors. Since last month, foreign-based companies no longer require approval from the backlogged National Company Law Tribunal for a so-called “reverse flip” merger… Continue reading India’s new rules may encourage more home listings by foreign-domiciled startupsForeign-based firms no longer need a nod for a “reverse flip” merger w…

Hong Kong VC firm MindWorks Capital closes Fund IV at $220mThe firm remains conservative when it comes to deployment this year. 

Hong Kong-based venture capital firm MindWorks Capital, which counts logistics unicorn Lalamove among its portfolio firms, has closed its fourth fund at $220 million, according to a company release on Wednesday.  MindWorks Ventures Fund IV had achieved its first close in 2021. Although the fund closed within its targetted range of $200-250 million, it did… Continue reading Hong Kong VC firm MindWorks Capital closes Fund IV at $220mThe firm remains conservative when it comes to deployment this year. 

India’s Adani Enterprises to raise $500m via share saleThe share sale marks the company’s return to equity fundraising after it scrapped a $2.5 billio…

Adani Enterprises aims to raise $500 million through a share sale it launched on Wednesday, two sources with direct knowledge said, as billionaire Gautam Adani’s flagship firm seeks to shore up capital to fund expenses and repay debt. The share sale marks the company’s return to equity fund-raising after it scrapped a $2.5 billion plan… Continue reading India’s Adani Enterprises to raise $500m via share saleThe share sale marks the company’s return to equity fundraising after it scrapped a $2.5 billio…

Liquidity now or fair valuations later? SE Asian private equity faces a dilemmaCan LPs tolerate low DPIs? Their patience is limited.

A backlog of unrealised exits is creating a big dilemma for Southeast Asia’s private equity industry, which, for a lot of global investors, brings déjà vu of the 2008 global financial crisis when performance in the industry had taken a heavy hit. Go to Source