Accel India has selected 10 startups as part of its second cohort of Atoms programme that was launched last year for pre-seed and seed stage companies. Separately, specialty chemicals platform Covvalent has raised $4.3 million in a funding round led by Nexus Venture Partners. Accel selects 10 startups for second cohort Venture capital firm Accel… Continue reading India Digest: Accel selects 10 startups for 2nd cohort; Nexus leads Covvalent funding
Author: Deal Street Asia Online News
Data Vantage: Bibit, Lyte Ventures, Atome and AgriAku receive funding
Stockbit Pte Ltd, the parent company of robo-advisor app Bibit, received $25 million last week from Singapore sovereign wealth fund GIC as part of an $80 million round announced in May. The company has so far received $57.8 million in equity funding as part of the round. Of this, lead investor GIC contributed $50 million,… Continue reading Data Vantage: Bibit, Lyte Ventures, Atome and AgriAku receive funding
EV startup Faraday Future appoints Xuefeng Chen as global CEOXuefeng Chen was most recently the CEO of the company’s China division.
Electric-vehicle startup Faraday Future Intelligent Electric said on Monday it has appointed Xuefeng Chen as global chief executive officer, sending shares up 1.4% in extended trading. Chen, who was most recently the CEO of the company’s China division and has spent nearly two decades in the automotive industry, succeeds Carsten Breitfeld, who was removed from the… Continue reading EV startup Faraday Future appoints Xuefeng Chen as global CEOXuefeng Chen was most recently the CEO of the company’s China division.
Crypto lender BlockFi files for bankruptcy, cites FTX exposure
Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month. The filing in a New Jersey court comes as crypto prices have plummeted. The price of bitcoin, the most popular digital… Continue reading Crypto lender BlockFi files for bankruptcy, cites FTX exposure
China broadens equity financing channels for property developers to aid economy
China’s securities regulator said on Monday it would allow China- and Hong Kong-listed Chinese property developers to sell additional shares to acquire real estate assets, replenish working capital, or repay debts, lifting a ban on such refinancing to help stabilize the economy. The China Securities Regulatory Commission (CSRC) said it would also promote financing by… Continue reading China broadens equity financing channels for property developers to aid economy
SG’s Vertex Ventures said to be nearing first close for SEA and India Fund 5
Temasek-backed Vertex Ventures is nearing the first close of its $450-million fifth fund for Southeast Asia and India, according to sources close to the development. DealStreetAsia understands that Vertex has secured around $380-400 million in capital commitments from major institutional investors. Singapore state investor Temasek Holdings is said to be contributing roughly $100 million to… Continue reading SG’s Vertex Ventures said to be nearing first close for SEA and India Fund 5
TA Associates prefers to invest in profitable Indian businesses, says top exec
American private equity (PE) giant TA Associates is betting big on sectors such as financial services, healthcare, technology, and consumer in India, as it carves out an investment strategy from its latest $12.5-billion fund. So far this year in India, TA Associates has invested in biopharma-focused tech services company Zifo RnD Solutions. The transaction, which… Continue reading TA Associates prefers to invest in profitable Indian businesses, says top exec
People Digest: WhatsApp appoints GoPlay ex-boss as Indonesia head; PayMongo CEO to step down
While WhatsApp has appointed GoPlay’s ex-boss Calvin Kizana as its first head of Indonesia, PayMongo co-founder and CEO Francis Plaza will be stepping down over allegations of misconduct. Calvin Kizana named WhatsApp’s Indonesia head WhatsApp has appointed Calvin Kizana, who was the former chief operating officer at Gojek’s live-streaming arm GoPlay, as its Indonesia head.… Continue reading People Digest: WhatsApp appoints GoPlay ex-boss as Indonesia head; PayMongo CEO to step down
Indian PE Motilal Oswal Alternates invests $56m in Shapoorji Pallonji Real EstateThe PE firm’s cumulative AUM for real estate currently stand at over …
India-focused fund manager Motilal Oswal Alternates has invested Rs 450 crore (about $56 million) in two projects of Shapoorji Pallonji Real Estate, per an announcement. While one is a commercial project, the other is a residential township. The commercial one called SP Infocity is located near Manesar in Gurugram. It is partially completed, operational and… Continue reading Indian PE Motilal Oswal Alternates invests $56m in Shapoorji Pallonji Real EstateThe PE firm’s cumulative AUM for real estate currently stand at over …
PE giant Carlyle raises more than $3b for pan-European tech fund
US buyout firm Carlyle Group has raised more than three billion euros ($3.12 billion) for a pan-European technology fund that is taking advantage of “pockets of life” in the economy, the co-heads of Carlyle Europe Technology Partners told Reuters. Focused on lower mid-market and growth technology companies across Europe, the fund, called CETP V, has… Continue reading PE giant Carlyle raises more than $3b for pan-European tech fund