Chinese gene synthesis firm Tsingke Biotechnology has bagged 400 million yuan ($57.2 million) in a Series B round led by Fortune Capital as well as Henan CICC Huirong Fund Management, a fund jointly set up by Henan Investment Group and CICC Capital. The round was joined by Capitallink, Qingsong Fund, Zhongyuan Asset Management, and Jolmo… Continue reading China’s Tsingke Biotechnology secures $57m in Series B round
Author: Deal Street Asia Online News
Goldman Sachs on hunt for bargain crypto firms after valuation crash
Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX‘s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman‘s head of digital assets, told Reuters. Goldman is doing due diligence… Continue reading Goldman Sachs on hunt for bargain crypto firms after valuation crash
Ozi Amanat’s K2 Global raises $300m to invest in tech startupsThe solo VC is expanding in Singapore and Miami.
K2 Global, the venture capital firm founded by Singapore- and US-based solo venture capitalist Ozi Amanat, has announced raising $300 million in capital commitments to continue investing in technology startups. The venture firm, founded in 2015, said it will invest in fintech, food tech, consumer tech, deep tech, machine learning, and artificial intelligence startups. It… Continue reading Ozi Amanat’s K2 Global raises $300m to invest in tech startupsThe solo VC is expanding in Singapore and Miami.
Sunshine Insurance to price shares at bottom of range in Hong Kong IPOThe IPO is the second largest in Hong Kong in 2022.
China’s Sunshine Insurance Group plans to price its shares at HK$5.83 each in its Hong Kong initial public offering to raise HK$6.7 billion ($863 million), according to two sources with direct knowledge of the matter. The sources could not be named as the information was not yet public. Sunshine Insurance did not immediately respond to a request for comment. At… Continue reading Sunshine Insurance to price shares at bottom of range in Hong Kong IPOThe IPO is the second largest in Hong Kong in 2022.
The LP View: Orient Growth sees opportunities to connect Europe with SE Asia, IndiaThe firm sees these markets as offering the best opportunity to inv…
The Netherlands-based venture capital firm Orient Growth Ventures is betting big on Southeast Asia and India, two regions it expects to grow rapidly over the next few decades. Smelling a strong opportunity here, the firm set up a fund-of-funds dedicated to these regions in 2019 and closed its first vehicle at $25 million in 2020. As… Continue reading The LP View: Orient Growth sees opportunities to connect Europe with SE Asia, IndiaThe firm sees these markets as offering the best opportunity to inv…
India Deal Review: Indian startup fundraising dips a tad to $1.3b in Nov
Venture funding in Indian startups dipped marginally to touch nearly $1.3 billion in November, compared with $1.4 billion in the previous month, show proprietary data compiled by DealStreetAsia. Deal volume in November, though, moved in the opposite direction. There were 131 private equity and venture capital transactions in the month versus 87 transactions in October,… Continue reading India Deal Review: Indian startup fundraising dips a tad to $1.3b in Nov
Lazada receives another $342.5m capital infusion from Alibaba
E-commerce major Lazada’s Southeast Asian entity has received another $342.5 million in capital infusion from its parent company Alibaba, according to recent filings with Accounting Corporate and Regulatory Authority (ACRA) accessed by DealStreetAsia DATA VANTAGE. This brings the total investment made by Alibaba into the Southeast Asian e-commerce firm to $1.6 billion since the beginning… Continue reading Lazada receives another $342.5m capital infusion from Alibaba
Singapore’s Olam Agri secures $2b bridge financing for parent’s reorganisation
Singapore’s Olam Agri has secured a $2 billion bridge financing facility to support the reorganisation plan of its parent, Olam Group, the grains and animal feed trader said on Monday. Agri-business giant Olam Group announced its reorganisation plan in January 2020 to categorise its products under two operating businesses, with an intention to potentially spin out each unit and list them separately.… Continue reading Singapore’s Olam Agri secures $2b bridge financing for parent’s reorganisation
Indonesian tech giants move to new economy boardGoTo, Bukalapak, and Blibli are the members of the new board launched on Monday.
Indonesian technology giants Bukalapak, GoTo, and Blibli have migrated from the main board to the new economy board launched by the Indonesian stock exchange (IDX) on Monday. DealStreetAsia had earlier reported that the new economy board will launch on Dec 5, 2022. Clarifying that the new economy board is not intended to send out a… Continue reading Indonesian tech giants move to new economy boardGoTo, Bukalapak, and Blibli are the members of the new board launched on Monday.
Business groups attack Philippine president’s plan to set up sovereign wealth fund
Philippine business groups on Monday attacked a plan backed by President Ferdinand Marcos Jr. to establish a 275-billion peso ($4.9 billion) sovereign wealth fund. Relatives of Marcos in Congress last week filed a bill seeking to create the fund — one of his administration’s boldest economic plans to date. Opposition to the fund has since… Continue reading Business groups attack Philippine president’s plan to set up sovereign wealth fund