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 …
Author: Deal Street Asia Online News
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
Global regulators to target crypto platforms after FTX crash
The crash of the FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest,… Continue reading Global regulators to target crypto platforms after FTX crash
Evergrande creditors ask chairman for at least $2b fund infusion
Debt-laden developer China Evergrande Group has told offshore creditors that it plans to present a restructuring proposal as soon as the first week of December, Bloomberg News reported on Thursday. The proposal could include swapping debt for shares in the company’s Hong Kong-listed auto and property management units, the report said, citing unnamed sources. The group of creditors asked Chairman Hui Ka Yan to infuse… Continue reading Evergrande creditors ask chairman for at least $2b fund infusion
B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Business-to-business (B2B) marketplace Udaan, backed by investors such as Lightspeed India Partners and GGV Capital, has raised around $35-40 million in debt from growth-stage debt financing platform EvolutionX Debt Capital, a source familiar with the matter told DealStreetAsia. This comes a month after Udaan secured $120 million in convertible notes and debt, bringing the total… Continue reading B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Entobel, a company that produces animal feed, pet food, and fertilisers from black soldier fly larvae, received $15 million from Mekong Capital and Dragon Capital this week as part of its Series B funding round. The latest tranche comes less than six months after the company received $15 million from the two investors as part of… Continue reading Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Vietnamese EV startup Dat Bike secures $8m in round led by Jungle VenturesGSR Ventures and Delivery Hero Ventures also participated in the round
Vietnamese electric motorbike startup Dat Bike has secured $8 million in a new funding round led by Singapore-based Jungle Ventures, according to an announcement. GSR Ventures and Delivery Hero Ventures also participated in the round, along with Wavemaker Partners and Innoven Capital. This new funding round, which comes a few months after the startup bagged… Continue reading Vietnamese EV startup Dat Bike secures $8m in round led by Jungle VenturesGSR Ventures and Delivery Hero Ventures also participated in the round
IFC mulls $35m loan package to Bangladesh’s Tanveer Foods
International Finance Corporation (IFC), a member of the World Bank Group, is considering investing up to $35 million in equivalent loans to Tanveer Foods, an importer of food products in Bangladesh, according to a disclosure. IFC said the proposed investment includes an up to $21 million senior-secured A loan from IFC alongside an up to… Continue reading IFC mulls $35m loan package to Bangladesh’s Tanveer Foods