Author: Deal Street Asia Online News

MENA’s Shorooq Partners leads $20m Series A funding for AI startup IntelmatixIntelmatix was founded in 2021 but only launched its enterprise AI platfo…

Abu Dhabi-based alternative investment manager Shorooq Partners has anchored the $20 million Series A funding for Intelmatix, a MENA (Middle East and North Africa)-focused deep tech B2B startup. The round, which, in the words of Intelmatix, is the largest Series A round in the MENA region for an Ai company, was also backed by public… Continue reading MENA’s Shorooq Partners leads $20m Series A funding for AI startup IntelmatixIntelmatix was founded in 2021 but only launched its enterprise AI platfo…

Microsoft’s downbeat cloud forecast signals AI bet will take longer to pay offThe company has been investing heavily to expand its data centres.

Microsoft predicted quarterly growth for its Azure cloud platform below estimates on Tuesday and said its capital spending would rise this fiscal year, in another sign the payoff in hefty AI investments may take longer than first thought. Shares fell 7% after the company gave the spending forecast on a call with analysts but quickly… Continue reading Microsoft’s downbeat cloud forecast signals AI bet will take longer to pay offThe company has been investing heavily to expand its data centres.

China’s PICC Capital sets up new fund to transform traditional industriesThe $1.4b fund will invest in chemicals, agriculture, and infrastructure sect…

PICC Capital Insurance Asset Management, the wholly-owned subsidiary of state-owned Chinese insurer The People’s Insurance Company (Group) of China (PICC), is planning to set up a 10 billion yuan ($1.4 billion) private equity investment fund to transform traditional industries.  Go to Source

Khazanah completes acquisitions of MAVCAP, Penjana KapitalThe National FoF will invest in innovative and high-growth startups via PE/VC funds. 

Malaysian sovereign wealth fund Khazanah Nasional (Khazanah) has announced the completion of its acquisitions of government-backed venture capital agencies – Malaysia Venture Capital Management (MAVCAP) and Penjana Kapital (PK). Following the deal, both entities will become wholly owned subsidiaries of Khazanah, per an official statement. In a statement released on Tuesday, Khazanah also revealed plans… Continue reading Khazanah completes acquisitions of MAVCAP, Penjana KapitalThe National FoF will invest in innovative and high-growth startups via PE/VC funds. 

99 Speed Mart aims to raise $509m in Malaysia’s biggest IPO in seven years99 Speed Mart plans to offer an up to 17% stake, or as much as 1.43 billion …

Malaysia’s top mini-market chain retailer 99 Speed Mart Retail Holdings aims to make its market debut on Sept. 9 after raising $509 million in an IPO set to be launched next month and which would be the country’s biggest in seven years, two people said. 99 Speed Mart, founded by entrepreneur Lee Thiam Wah in… Continue reading 99 Speed Mart aims to raise $509m in Malaysia’s biggest IPO in seven years99 Speed Mart plans to offer an up to 17% stake, or as much as 1.43 billion …

Indian seed-stage VC Gemba Capital launches $29m second fundThe firm invests has backed over 50 startups in the seed and pre-seed stages.

Seed-stage venture capital firm Gemba Capital, which has backed the likes of insurtech firm Plum and alternative investment platform Grip Invest, has launched its second fund targeting a corpus of Rs 250 crore ($28.9 million), the firm said on Tuesday. Gemba Capital invests at the seed and pre-seed stages in scalable tech startups and has… Continue reading Indian seed-stage VC Gemba Capital launches $29m second fundThe firm invests has backed over 50 startups in the seed and pre-seed stages.

Adani Energy Solutions said to eye share sale to raise over $600mIt will mark the group’s first public share sale since scrapping a $2.5b offering in …

Adani Energy Solutions, led by billionaire Gautam Adani, is likely to launch a share sale this week to raise more than $600 million, two sources with direct knowledge of the matter told Reuters on Monday. The sale of existing shares will be Adani Group’s first fundraise from equity markets after a $2.5 billion share sale… Continue reading Adani Energy Solutions said to eye share sale to raise over $600mIt will mark the group’s first public share sale since scrapping a $2.5b offering in …