Yoma MFS Holdings, a subsidiary of Singapore-listed Yoma Strategic, is acquiring a 51% stake in Digital Money Myanmar (Wave Money), a digital payment service provider, for $40 million, according to a disclosure. Yoma will acquire the controlling stake from Norwegian telecom firm Telenor, a joint venture partner of Yoma Strategic in Wave Money. Both Telenor… Continue reading Yoma to buy Telenor’s stake in Myanmar’s Wave Money for $40m, down from $53m
Author: Deal Street Asia Online News
Crypto exchange Binance placed on Singapore’s Investor Alert List following complaintsMAS warned that dealing in any cryptocurrency, on any platform, …
Cryptocurrency exchange Binance was investigated by Singapore’s Commercial Affairs Department (CAD), following several complaints between January and August 2021. Subsequently, it was placed on the city-state’s Investor Alert List (IAL), the Monetary Authority of Singapore (MAS) said in a statement on Monday. The statement was issued in response to the “questions and misconceptions that have… Continue reading Crypto exchange Binance placed on Singapore’s Investor Alert List following complaintsMAS warned that dealing in any cryptocurrency, on any platform, …
Schneider Electric-backed SE Ventures launches $500m climate-tech fund
Global venture capital fund SE Ventures, backed by French energy management company Schneider Electric, has announced a €500-million (around $500 million) Fund II on Monday, establishing it as one of the largest VCs focusing on climate and industrial technology. Following a 2018 Fund I to bring SE Ventures to €1 billion of committed capital, Fund… Continue reading Schneider Electric-backed SE Ventures launches $500m climate-tech fund
Greater China Digest: Circle picks up stake in CYBAVO; Grace Laser bags fundingADDX was an investor in CYBAVO’s $4m pre-Series A round in August 2021.
Circle has picked up a stake in Taiwan’s CYBAVO from Singapore’s ADDX while while laser equipment maker Grace Laser has snapped almost $28 million in a funding round. Circle acquires ADDX’s stake in CYBAVO Singaporean private market exchange ADDX has sold its stake in Taiwan-based CYBAVO to crypto finance company Circle, the parent company of… Continue reading Greater China Digest: Circle picks up stake in CYBAVO; Grace Laser bags fundingADDX was an investor in CYBAVO’s $4m pre-Series A round in August 2021.
Navis Capital Partners said to be raising $350m for maiden credit fund
Southeast Asia-focused private equity firm Navis Capital Partners is understood to be seeking around $350 million for its maiden credit fund. It had recruited BlackRock Asia credit business executive Justin Ferrier to lead its Asian credit platform, which was launched in July. The development was first reported by Reuters. DealStreetAsia has independently verified the news.… Continue reading Navis Capital Partners said to be raising $350m for maiden credit fund
Chinese carmakers target more European sales with affordable 5-star EVsChinese EV makers have already stolen a march on most foreign rivals in the dom…
Chinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features. In the last few months, several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings – an achievement that… Continue reading Chinese carmakers target more European sales with affordable 5-star EVsChinese EV makers have already stolen a march on most foreign rivals in the dom…
India Digest: NirogStreet raises $12m; ProcMart snags $10m
Ayurveda tech startup NirogStreet has received $12 million in a Series B round, while B2B procurement platform ProcMart has raised $10 million in its Series A round. Jungle Ventures leads NirogStreet’s round NirogStreet, an Ayurveda tech startup based in Delhi, India, has received $12 million in a Series B round of funding led by Jungle… Continue reading India Digest: NirogStreet raises $12m; ProcMart snags $10m
GoTo’s Q3 losses drop a tad, revenue triples on cost-cutting efforts
Indonesia-listed technology group PT GoTo Gojek Tokopedia Tbk managed to trim losses a tad in the July-September quarter as cost management efforts helped the company to meet some of its guidance ahead of time. GoTo’s losses in the third quarter of 2022 came in lower at 6.8 trillion rupiah ($432 million) compared with 7.6 trillion… Continue reading GoTo’s Q3 losses drop a tad, revenue triples on cost-cutting efforts
SG digital wealth manager Kristal.AI raises over $10m in pre-Series B round
Singapore-based digital private wealth management platform Kristal.AI has raised over $10 million in a pre-Series B funding round, the company announced in a press statement on Monday. The round, which saw the participation of existing investors such as Chiratae Ventures and the Sanadhya family along with new investors such as Stride Ventures, has pushed its… Continue reading SG digital wealth manager Kristal.AI raises over $10m in pre-Series B round
SG’s iGlobe Partners raising $200m fifth fund to back deeptech startupsThe fund will be an extension of iGlobe’s existing strategy, which centres on i…
Singapore-based venture capital firm iGlobe Partners is raising a $200-million fifth fund to back deeptech startups, as first reported by Bloomberg. The fund will be an extension of iGlobe’s existing strategy, which centres on intellectual property, and leveraging it to build commercial value. According to its official website, iGlobe focuses on startups in four main… Continue reading SG’s iGlobe Partners raising $200m fifth fund to back deeptech startupsThe fund will be an extension of iGlobe’s existing strategy, which centres on i…