Author: Deal Street Asia Online News

SE Asia Digest: Thai Betagro launches plant-based food product; Haruko sets up SG office

Thailand’s Betagro has launched a plant-based food product called Meatly! while European digital asset management platform Haruko expands in Southeast Asia after raising $6 million. Thailand’s Betagro launches plant-based food product Thai integrated food company Betagro Public Company Limited (BTG) has, through Betagro Ventures, introduced Meatly!, a plant-based food product, to provide consumers with an alternative… Continue reading SE Asia Digest: Thai Betagro launches plant-based food product; Haruko sets up SG office

ETF flows, rising stocks lift BlackRock’s assets to record $10.65t in Q2In June, the company agreed to buy private markets data provider Preqin in a $…

Assets managed by BlackRock hit a record $10.65 trillion in the second quarter thanks to rising client asset values and as investors pumped money into the company’s exchange-traded funds, the world’s largest asset manager said on Monday. Stock markets have scaled record highs in the last few months amid rising expectations of a soft landing for… Continue reading ETF flows, rising stocks lift BlackRock’s assets to record $10.65t in Q2In June, the company agreed to buy private markets data provider Preqin in a $…

SE Asia’s e-commerce GMV rose 15% in 2023 to over $114b

The total gross merchandise value (GMV) of Southeast Asia’s eight leading e-commerce platforms rose 15% year-on-year to $114.6 billion in 2023, according to the report ‘E-commerce in Southeast Asia 2024’ by Momentum Works. In 2022, Southeast Asia’s e-commerce GMV had hit $99.5 billion, half of which was attributable to Shopee. In 2023, Shopee achieved a… Continue reading SE Asia’s e-commerce GMV rose 15% in 2023 to over $114b

Goldman Sachs bolsters India leadership, names investment banking co-chiefs

Goldman Sachs has appointed Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of investment banking in India, the latest Wall Street bank to bolster its leadership amid a rise in dealmaking opportunities in the country. Ramakrishnan and Nambakam, previously the bank’s co-chief operating officers in India, now report to India Chairman and Chief Executive Sonjoy Chatterjee,… Continue reading Goldman Sachs bolsters India leadership, names investment banking co-chiefs

Ping An Insurance to raise $3.5b in convertible bond deal

China’s Ping An Insurance is looking to raise $3.5 billion in a convertible bond deal, according to a term sheet seen by Reuters on Monday. The bond will have a coupon of 0.375% to 0.875% per annum, paid semi-annually, according to the term sheet. There is a conversion premium between 25% and 30% above Ping An’s Hong Kong listed… Continue reading Ping An Insurance to raise $3.5b in convertible bond deal

Temasek looks to invest up to $10b in India over three years as it turns cautious on China

Singapore state investor Temasek plans to invest up to $10 billion in India over three years in sectors such as financial services and healthcare, a top executive said on Monday, favouring the South Asian nation as it turns cautious on China. India’s economy is growing sharply and its stock markets are trading near record highs amid an… Continue reading Temasek looks to invest up to $10b in India over three years as it turns cautious on China

India’s Anicut Capital closes $36m equity continuum fund for IPO-ready startupsThe fund will invest in 5-6 existing portfolio companies.

Alternative financing firm Anicut Capital has closed its maiden late-stage equity continuum fund of Rs 300 crore ($36 million), to invest in companies preparing for an IPO within the next 2-4 years, the firm said in a statement. The fund will invest in 5-6 existing portfolio companies. Following the fund’s close Anicut now manages Rs… Continue reading India’s Anicut Capital closes $36m equity continuum fund for IPO-ready startupsThe fund will invest in 5-6 existing portfolio companies.

Goldman Sachs looks to raise $2b for first APAC-focused PE fund: report

Goldman Sachs aims to raise $2 billion in its first Asia Pacific-focused private equity fund, two people with knowledge of the bank’s fundraising plan said, as it looks to deepen exposure to some of the world’s fastest-growing economies. The fundraising effort comes as private equity firms in Asia reshape investment strategies and country allocations amid… Continue reading Goldman Sachs looks to raise $2b for first APAC-focused PE fund: report

EV ride-hailing firm BluSmart raises $24m from MS Dhoni Family Office, responsAbility

Indian EV ride-hailing firm BluSmart has closed a pre-Series B funding round worth $24 million to expand its footprint in the country. The round saw participation from Zurich-based impact asset manager responsAbility Investments AG; Sumant Sinha, the founder of Indian decarbonisation solutions company ReNew; MS Dhoni Family Office, and other existing investors. In May, BluSmart… Continue reading EV ride-hailing firm BluSmart raises $24m from MS Dhoni Family Office, responsAbility