Tempo Automation, a US-based electronics manufacturer, has agreed to go public through a merger with ACE Convergence Acquisition, a special purpose acquisition company (SPAC) sponsored by Korean PE firm ACE Equity Partners. ACE Convergence Acquisition is the first SPAC sponsored by a Korean manager. The blank check company raised $230 million in July 2020. Go… Continue reading Tempo Automation merges with S Korean SPAC ACE ConvergenceACE Convergence raised $230m in July 2020.
Author: Deal Street Asia Online News
Indonesian content creator startup TipTip raises $13m led by East Ventures
Indonesian content creator platform TipTip has raised $13 million in a Series A funding round led by East Ventures to accelerate platform adoption and diversify its product offerings. Vertex Ventures, SMDV, B.I.G. Ventures and prominent angels joined the round, the company said in a statement on Monday. TipTip was founded by Albert Lucius in 2021.… Continue reading Indonesian content creator startup TipTip raises $13m led by East Ventures
Vietnam’s grocery platform Cooky bags $4.5m from Nextrans, Do Ventures
Vietnamese e-grocery shopping platform Cooky has raised $4.5 million in a funding round led by Korea-based investment firm Nextrans and local venture capital firm Do Ventures, according to an announcement. Cooky was started by Minh Dang and Dai Nguyen who were the founding members of Vietnam’s pioneer food delivery player Foody. After successfully exiting Foody… Continue reading Vietnam’s grocery platform Cooky bags $4.5m from Nextrans, Do Ventures
VinaCapital defers $160m worth PE deals due to market uncertaintyThe firm had signed legal documents to invest the sum across two projects.
Vietnam-based asset management firm VinaCapital has postponed investments worth about $160 million in two private equity projects due to unfavourable market conditions. The firm had signed legal documents to invest about $100 million and $60 million in each project since the start of July but has now decided to postpone the deals with a hope… Continue reading VinaCapital defers $160m worth PE deals due to market uncertaintyThe firm had signed legal documents to invest the sum across two projects.
Indonesia’s BNPL hopefuls may land a good bargain with multifinance firms
Several Indonesian multifinance companies could be up for grabs amid pressure to meet the financial regulator’s minimum capital requirement of 100 billion rupiah ($6.38 million). Bambang Budiawan, head of the non-bank financial industry supervision department at the Indonesia Financial Services Authority (OJK), said 30% of the 154 multifinance firms in the country will need to… Continue reading Indonesia’s BNPL hopefuls may land a good bargain with multifinance firms
Indonesian marketplace AgriAku raises $5m more in Series A funding
AgriAku, a Jakarta-based B2B marketplace for farmers, has raised $5 million more in its Series A funding extension, according to ACRA filings accessed by DealStreetAsia – DATA VANTAGE. The Series A1 investors include TNB Aura, Indogen Capital, Gentree Fund, and existing investor Go-Ventures. Go to Source
The LP View: Despite slowdown, LPs bullish on long-term India growth story
Despite global economic uncertainty and a slowdown in deal activity this year, limited partners (LPs) continued to bet big on India, hoping to garner returns from the country’s entrepreneurial ecosystem in the long run. During the first nine months of 2022, LPs committed $7.7 billion to India-focused private equity (PE) and venture capital (VC) firms,… Continue reading The LP View: Despite slowdown, LPs bullish on long-term India growth story
Macau’s 6 casino operators get new licences, Malaysia’s Genting out
Macau‘s government said on Saturday its six incumbent casino operators would be given new licences to operate in the world’s biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in the Chinese special… Continue reading Macau’s 6 casino operators get new licences, Malaysia’s Genting out
India regulator asks Paytm to reapply for payment aggregator licenceThe company said it does not expect the delay in securing the licence to impact it…
India’s banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd unit that owns the popular Paytm brand, asking it to reapply within 120 days after meeting certain conditions. The regulator asked Paytm Payments Services Ltd, a 100% subsidiary of One 97 Communications, to reapply after getting the necessary approvals for… Continue reading India regulator asks Paytm to reapply for payment aggregator licenceThe company said it does not expect the delay in securing the licence to impact it…
InnoVen, Stride invest in RenewBuy and India deals worth $127m
Insurtech startup RenewBuy has raised about $8.3 million (Rs 68 crore) in debt funding from InnoVen Capital and Stride Ventures. According to a report in Entrackr, the board at Renewbuy has passed a special resolution to issue 6,000 non-convertible debentures(NCDs) at an issue price of Rs 1,00,000 each and 11,910 CCPS at an issue price of… Continue reading InnoVen, Stride invest in RenewBuy and India deals worth $127m