Vietnam’s electric vehicle maker VinFast said on Friday it had shipped its first batch of 999 cars to the United States, capping a five-year bid to develop an auto production hub in the Southeast Asian country for markets in North America and Europe. The first cars are expected to be handed over to customers by… Continue reading Vietnam’s VinFast ships first batch of electric vehicles to US
Author: Deal Street Asia Online News
Dubai waste management firm Averda said to be weighing majority stake sale
Dubai-based Averda International, one of the largest waste management firms in the Middle-East and North Africa, is planning to sell a stake in the business, sources familiar with the matter said. The company is working with Moelis & Co to arrange the transaction, which is expected to be a majority stake in the business, said… Continue reading Dubai waste management firm Averda said to be weighing majority stake sale
UAE’s IHC plans IPOs of its health and IT business divisionsIHC is targeting a tech unit IPO in the third quarter, with $1b in assets.
International Holding Company plans to sell 20% of its technology unit in an initial public offering next year, its CEO told Reuters, adding that the UAE’s IHC is aiming for a first-quarter IPO of Pure Health to raise more than $1 billion. IHC, which rose from relative obscurity to become the United Arab Emirates’ largest publicly traded… Continue reading UAE’s IHC plans IPOs of its health and IT business divisionsIHC is targeting a tech unit IPO in the third quarter, with $1b in assets.
German investor DEG commits $30m to Asia Partners’ second buyout fundAsia Partners’ debut fund had raised $384m in 2021.
DEG, the investment arm of German state-owned development bank KfW, has committed to invest $30 million in the latest private equity fund of Singapore-headquartered Asia Partners, according to a disclosure. Asia Partners, launched by former Sea Ltd president Nick Nash and Naspers B2C e-commerce division’s former CEO Oliver Rippel, has filed in April to raise… Continue reading German investor DEG commits $30m to Asia Partners’ second buyout fundAsia Partners’ debut fund had raised $384m in 2021.
SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohortGMA W22 will take place from November 202…
ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam Scout, while SOSV’s new startup programme has unveiled five startups in the latest cohort. New programme to invest in 5-7 startups Vietnamese venture capital firm ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam… Continue reading SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohortGMA W22 will take place from November 202…
India: Ultraviolette Automotive raises funding from Qualcomm, Lingotto
TVS Motor-backed electric bike maker Ultraviolette Automotive has raised funding from Qualcomm Ventures and Lingotto, the largest shareholder in Ferrari, as it looks to expand its operations and ramp up technology. This marks a part of the Series D round for the company. While the exact amount that Ultraviolette Automotive has raised in the latest… Continue reading India: Ultraviolette Automotive raises funding from Qualcomm, Lingotto
Entrepreneur First’s Singapore exit leaves big void for deeptech startupsThe question is if SG has outgrown the need for a generalist venture builder …
London-based venture builder Entrepreneur First’s (EF) decision to leave Singapore came as a shock to many. For some of its portfolio firms, the news was nothing short of “heartbreaking”. “EF Singapore was where we started,” said Transcelestial’s Rohit Jha, who met his Iranian co-founder Mohammad Danesh at EF’s venture builder programme in 2017. Go to… Continue reading Entrepreneur First’s Singapore exit leaves big void for deeptech startupsThe question is if SG has outgrown the need for a generalist venture builder …
Actis unit BluePine Energy buys Atha Group’s solar power assets
London-based private equity firm Actis Llp-backed BluPine Energy has acquired Atha Group’s pan-India solar portfolio with an operating capacity of 404MW. The enterprise value of Atha’s solar assets is estimated at around $257 million (Rs. 2,100 crore), Mint reported. BluPine Energy is a renewable energy platform established by Actis, targeting 4GW capacity of utility-scale solar,… Continue reading Actis unit BluePine Energy buys Atha Group’s solar power assets
Binance mulls $1b recovery fund for distressed assetsThe company plans to launch a fund to help cryptocurrency projects facing a liquidity squeeze.
Cryptocurrency exchange Binance is aiming for a roughly $1 billion fund for the potential purchase of distressed assets in the digital sector, Bloomberg News reported on Thursday, citing an interview with Chief Executive Officer Changpeng Zhao. Zhao hinted at the possibility of allocating more funds in the interview. “If that’s not enough we can allocate more”, he said. Zhao said while speaking at a conference in… Continue reading Binance mulls $1b recovery fund for distressed assetsThe company plans to launch a fund to help cryptocurrency projects facing a liquidity squeeze.
Indian VC firm Kae Capital makes final close of third fund at $94m
Kae Capital, an early-stage venture capital (VC) firm in India, has made the final close of its third fund at Rs 767 crore ($94 million), per an announcement. Some of the international institutional investors who have backed this fund are Old Mutual Wealth, Velo Partners, and Finext, while the Indian ones are HDFC Holdings and… Continue reading Indian VC firm Kae Capital makes final close of third fund at $94m