DEG, the investment arm of German state-owned development bank KFW, has committed to extend a loan of CNH 100 million ($14 million) to China’s microfinance company Simple Credit Micro-Lending Co., Ltd. (Simple Credit), according to a disclosure. Established in 2015 in Chongqing, Simple Credit is a microfinance company holding a nationwide internet lending licence in… Continue reading DEG to extend $14m loan to China’s microfinance company Simple Credit
Author: Deal Street Asia Online News
India’s Gland Pharma to buy France’s Cenexi for $124m
Indian generic injectables maker Gland Pharma Ltd said on Tuesday it will buy privately held French pharmaceutical firm Cenexi for 120 million euros ($124.3 million) as it looks to expand its presence in European markets. Carved out from Roche Holding in 2004, Cenexi is a contract development and manufacturing company that makes sterile and injectable… Continue reading India’s Gland Pharma to buy France’s Cenexi for $124m
Sky Mavis calls for rethinking of “play-to-earn” in the next chapter of blockchain gamesSky Mavis has shifted its focus towards gameplay.
Vietnam-based Sky Mavis’s non-fungible token (NFT) game Axie Infinity became a sensation last year as millions of users flocked to it, seeking to earn money by acquiring and trading its NFTs. For some, the game appeared so lucrative that they quit their jobs to focus on Axie. However, the game developer was hit by the… Continue reading Sky Mavis calls for rethinking of “play-to-earn” in the next chapter of blockchain gamesSky Mavis has shifted its focus towards gameplay.
SE Asia’s Iterative closes $55m Fund 2 to double down on seed-stage founders
Southeast Asia’s Iterative has closed $55 million for its second fund to double down on seed-stage founders, it announced on Wednesday. Iterative’s Fund II is led by Cendana, K5 Global, Village Global, and Goodwater Capital in the US. It also received strong participation from Silicon Valley founders and executives including Dropbox’s Arash Ferdowsi, Bukalapak’s Achmad… Continue reading SE Asia’s Iterative closes $55m Fund 2 to double down on seed-stage founders
Philippines proposes to set up $4.9b sovereign wealth fund
Philippine House Speaker Martin Romualdez, the cousin of President Ferdinand Marcos Jr., has filed a bill seeking to establish a 275-billion peso ($4.9 billion) sovereign wealth fund to support the administration’s economic agenda. House Bill No. 6398, filed on Monday and co-authored by the president’s son Ferdinand Alexander, is aimed at setting up what would… Continue reading Philippines proposes to set up $4.9b sovereign wealth fund
Indian PE firm Zephyr Peacock ready to write smaller cheques, bullish on digital
Zephyr Peacock, the Indian investment arm of New York-based private equity (PE) firm Zephyr Management, is betting big on the burgeoning digital economy as it looks to raise its fourth fund next year. “As much as 40% of our third fund has been deployed. We will be able to exhaust it by next year and… Continue reading Indian PE firm Zephyr Peacock ready to write smaller cheques, bullish on digital
China’s Primavera said to be targeting $300m for private credit fundThe firm is reportedly in the market raising its fourth US dollar fund with a targ…
Chinese investment firm Primavera Capital Group, an early investor in billionaire Jack Ma’s Alibaba Group, is reportedly seeking to raise $300 million for a private credit fund. Primavera, which invests in the global market with a focus on China, is said to have built out the credit strategy earlier this year with the recruitment of… Continue reading China’s Primavera said to be targeting $300m for private credit fundThe firm is reportedly in the market raising its fourth US dollar fund with a targ…
Alibaba may sell $200m shares in India’s Zomato via block deal
Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, CNBC Awaaz reported on Tuesday, citing sources. The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a 13.3% stake in Zomato, according to Refinitiv data. Alibaba and Zomato did not immediately respond to Reuters requests for comment. The block deal on Wednesday will likely be… Continue reading Alibaba may sell $200m shares in India’s Zomato via block deal
ID Digest: Ajaib fires 8% staff; Seedstars launches new investment platform
The tech layoff spree continues in Indonesia, with Ajaib cutting 8% of its workforce. Meanwhile, Seedstars, a Swiss venture capital firm, has launched an investment platform for emerging venture capital (VC) fund managers. Ajaib sacks 67 employees Indonesian investment platform Ajaib has laid off 67 employees, or about 8% of its headcount, as reported by… Continue reading ID Digest: Ajaib fires 8% staff; Seedstars launches new investment platform
JD said to lay off employees in Thailand, potentially exit businesses in SE Asia
JD Central Thailand, a joint venture between Chinese retail giant JD.com and Thailand’s largest retailer Central Group, is said to have laid off a significant portion of its staff on Monday, DealStreetAsia has learnt. While a confirmation on the exact number could not be ascertained, sources familiar with the matter said nearly 200 employees may… Continue reading JD said to lay off employees in Thailand, potentially exit businesses in SE Asia