Warburg Pincus said on Wednesday it has named veteran insider Jeffrey Perlman as its chief executive officer, in only the third generation of leadership for the private equity firm in its nearly 60-year history. Succeeding longstanding CEO Chip Kaye, Perlman would begin in his new role on Sept. 2. Perlman was named president at Warburg… Continue reading Warburg Pincus names insider Jeffrey Perlman its next CEO
Author: Deal Street Asia Online News
Dharana Capital invests $50m in Indian home services startup Urban CompanyThe shares have been acquired from employees and other shareholders.
Dharana Capital, an India-focused investment firm, has invested over Rs 400 crore (about $48 million) in home services startup Urban Company through a significant secondary transaction, per an announcement. The shares have been acquired from employees and other shareholders, making this transaction the largest ESOP liquidity in Urban Company’s history. With the transaction, Vamsi Duvvuri,… Continue reading Dharana Capital invests $50m in Indian home services startup Urban CompanyThe shares have been acquired from employees and other shareholders.
Development bank AIIB to allocate $5b to Vietnam’s sustainable economy
The Asian Infrastructure Investment Bank (AIIB) will invest $5 billion to support Vietnam in its shift towards a sustainable and green economy, AIIB’s President Jin Liqun announced during a recent visit to Vietnam. The investment does not have a defined timeframe and depends on the quality and feasibility of the proposed projects, said Jin Liqun.… Continue reading Development bank AIIB to allocate $5b to Vietnam’s sustainable economy
Asia Digest: Wittaya Aqua raises seed funding; MON Protocol launches venture fund
Wittaya Aqua, an aquaculture platform headquartered in Singapore and Canada, has raised $2.8 million in a seed round. In a separate development, MON Protocol, a Web3 intellectual property (IP) and games publisher, has launched a venture fund. Wittaya Aqua raises seed funding Singapore- and Canada-based aquaculture platform Wittaya Aqua has raised $2.8 million in seed… Continue reading Asia Digest: Wittaya Aqua raises seed funding; MON Protocol launches venture fund
Chinese biopharmaceutical firm AusperBio bags $37m in Series A roundThe round has been led by InnoPinnacle Fund.
Biopharmaceutical firm AusperBio has raised $37 million in a Series A round led by InnoPinnacle Fund as it looks to expand its operations. InnoPinnacle Fund is a USD-denominated investment fund set up by Hong Kong-listed Innovent Biologics. While it operates independently from the listed- firm, the fund targets opportunities across drug innovation and biotechnology. Others… Continue reading Chinese biopharmaceutical firm AusperBio bags $37m in Series A roundThe round has been led by InnoPinnacle Fund.
People Digest: Former ID minister Rudiantara joins DS/X Ventures; GoTo names new CFO
Early-stage venture capital firm DS/X Ventures has recruited former Indonesian communication and information technology minister Rudiantara as a strategic advisor and board member. Meanwhile, IDX-listed tech giant GoTo has named Simon Ho its new CFO. Former minister Rudiantara joins DS/X Ventures DS/X Ventures, an Indonesia-focused early-stage fund, has appointed Rudiantara, a former minister of communication… Continue reading People Digest: Former ID minister Rudiantara joins DS/X Ventures; GoTo names new CFO
Kalpavriksh Fund exits Jungle-backed The Ayurveda Experience
Prowess Advisors, an advisory firm that took over early-stage venture fund Kalpavriksh from Mumbai-based asset manager Centrum Alternatives in 2023, has exited its investment in The Ayurveda Experience, a D2C beauty and health Ayurveda brand, per a statement. The firm claimed to have garnered over 6x returns from the exit. Kalpavriksh Fund first invested in… Continue reading Kalpavriksh Fund exits Jungle-backed The Ayurveda Experience
Singapore classifieds unicorn Carousell trimmed losses by 40% in 2023
Singapore-based classifieds unicorn Carousell trimmed its losses by 40% in the financial year ended December 31, 2023, as it reined in costs, according to regulatory filings. The company reported a net loss of $38.1 million last year, down from $63.1 million in the previous year, show its filings with Singapore’s Accounting and Corporate Regulatory Authority… Continue reading Singapore classifieds unicorn Carousell trimmed losses by 40% in 2023
IPO-bound Thai AI software firm Amity Solutions secures $41.6m fundingIts parent company, Amity Corporation, also raised $18.5m in the round.
Amity Solutions (ASOL), a Bangkok-based multiproduct software group, and its parent company, Amity Corporation, have raised a combined $60 million in a Series C funding round, according to an announcement. ASOL raised $41.6 million from Chinese venture capital firm Insight Capital and new and existing investors. Amity Corporation, on the other hand, secured $18.5 million… Continue reading IPO-bound Thai AI software firm Amity Solutions secures $41.6m fundingIts parent company, Amity Corporation, also raised $18.5m in the round.
HSBC appoints insider Georges Elhedery as group CEO
HSBC Holdings Plc said on Wednesday that Chief Financial Officer Georges Elhedery will become group CEO – a choice that highlights the global lender’s preference for continuity as it looks to kickstart growth. Elhedery, 50, who becomes HSBC’s third CEO in less than eight years, will replace outgoing head Noel Quinn from Sept. 2. The… Continue reading HSBC appoints insider Georges Elhedery as group CEO