Venture capital investment in China will likely recover gradually in 2023 after a year of battering by the country’s severe pandemic controls, a share market slump and China-U.S. tension, dealmakers and investors said. As COVID-19 restrictions come off, boosting the economy and maybe the share market, the number of deals should rise, they said. The… Continue reading China venture capital deals seen recovering from 3-year lows
Author: Deal Street Asia Online News
Singapore’s PSA mulls 20% stake sale in CK Hutchison’s port business
Singapore state-controlled port operator PSA International is considering selling its 20% stake in the port business of Hong Kong conglomerate CK Hutchison Holdings Ltd., according to people close to PSA’s controlling shareholder Temasek Holdings. PSA is reviewing its portfolio against the backdrop of geopolitical change and declining global trade demand, the sources said. The evaluation… Continue reading Singapore’s PSA mulls 20% stake sale in CK Hutchison’s port business
Blume Ventures’s Sanjay Nath expects India’s funding winter to end mid-2023
Even as deal activity has staggered globally, early-stage investor Blume Ventures, which has backed the likes of Dunzo and Unacademy, raised a whopping $250 million for its fourth India-dedicated fund, more than double the size of its previous fund. “India is all about strong fundamentals, which may have been mispriced or overpriced, but that doesn’t… Continue reading Blume Ventures’s Sanjay Nath expects India’s funding winter to end mid-2023
Temasek, Sequoia & IDG lead Chinese PV material maker’s nearly $72m Series B+ roundLongwater Investment joined the round, while GCL Technology Holding…
GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic (PV) materials makers, has secured 500 million yuan ($72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. Longwater Investment joined the round, while GCL Technology Holdings also re-upped, according to… Continue reading Temasek, Sequoia & IDG lead Chinese PV material maker’s nearly $72m Series B+ roundLongwater Investment joined the round, while GCL Technology Holding…
Indian power producer NTPC to sell stake in green energy businessThe deal marks the first green transaction by an Indian state company
India’s largest power producer NTPC Ltd aims to sell a 20% stake in its green energy business this fiscal year, expecting to raise up to 30 billion Indian rupees ($363.97 million), three government sources said. The deal marks the first green transaction by an Indian state company, which has drawn interest from investors, such as Canada… Continue reading Indian power producer NTPC to sell stake in green energy businessThe deal marks the first green transaction by an Indian state company
Banks gearing up to book losses on Twitter loans this quarter
Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with direct knowledge of the situation. Banks… Continue reading Banks gearing up to book losses on Twitter loans this quarter
US SEC to vote on proposal to overhaul stock market rules
The U.S. Securities and Exchange Commission on Wednesday will vote on whether to propose some of the biggest changes to the structure of the American equity markets in nearly two decades, aimed at boosting competition, transparency and fairness. The potential changes include new rules that would require marketable retail stock orders to be sent to… Continue reading US SEC to vote on proposal to overhaul stock market rules
Indian market regulator may allow ‘micro’ REITs to boost nascent market
India’s market regulator is planning to allow “micro” real estate investment trusts (REITs), according to a senior official, to bring a wider set of property companies to the nascent market as India emerges from a pandemic-induced lull. The Securities and Exchange Board of India (SEBI) is considering reducing the size of REITs, allowing them to… Continue reading Indian market regulator may allow ‘micro’ REITs to boost nascent market
Abu Dhabi’s ADQ leads consortium to buy stake in Israel’s Phoenix Group
A consortium led by Abu Dhabi state holding firm ADQ is in advanced negotiations to acquire a controlling stake in Israeli financial firm Phoenix Group in a deal that values the company at around 9.2 billion shekels ($2.70 billion), the companies said on Wednesday. U.S. private investment firms Centerbridge Partners and Gallatin Point Capital, which… Continue reading Abu Dhabi’s ADQ leads consortium to buy stake in Israel’s Phoenix Group
Fundraising environment difficult for startups across the globe, says SkyBridge’s ScaramucciThe current macroeconomic uncertainty has seemingly been t…
Rising inflation rates and talks of an impending recession have affected the pace at which startups around the world are able to raise funds, said Anthony Scaramucci, founder and managing partner at US-based global investment firm SkyBridge Capital. “The fundraising environment is difficult. I do agree that [investors are looking more at] longer-tail investments with… Continue reading Fundraising environment difficult for startups across the globe, says SkyBridge’s ScaramucciThe current macroeconomic uncertainty has seemingly been t…