Voyah, a premium electric vehicle brand under China’s auto giant Dongfeng Motor Group has notched 4.55 billion yuan ($638.5 million) in a Series A round, Chinese financial media outlet Yicai reported on Thursday. The round has brought the company’s valuation to 29.5 billion yuan ($4.1 billion), per the report. Mixed Ownership Reform Fund, a national… Continue reading Dongfeng Motor Group’s EV brand Voyah raises $639m at over $4b valuation
Author: Deal Street Asia Online News
IFC proposes $40m investment in Chinese animal feed producer Anyou
The International Finance Corporation (IFC), a member of the World Bank Group, has proposed an investment of up to 260 million yuan (approximately $40 million) in China’s animal feed producer Anyou Biotechnology Group Co., Ltd, (Anyou), according to a disclosure. The investment, a long-term A loan, will be used for Anyou’s project to expand its… Continue reading IFC proposes $40m investment in Chinese animal feed producer Anyou
Crypto lender Genesis had sought emergency loan of $1b, per reportGenesis Global Capital suspended customer redemptions in its lending business on Wed…
Cryptocurrency lender Genesis was seeking an emergency loan of $1 billion from investors before it suspended withdrawals on its website, the Wall Street Journal reported on Thursday, citing a confidential fundraising document. The document viewed by the Journal cites a “liquidity crunch due to certain illiquid assets on its balance sheet” at Genesis. On Wednesday, Genesis Global Capital suspended customer redemptions in its lending business, citing… Continue reading Crypto lender Genesis had sought emergency loan of $1b, per reportGenesis Global Capital suspended customer redemptions in its lending business on Wed…
World Bank’s IFC eyeing sector fund opportunities in APAC
World Bank Group member International Finance Corporation (IFC) is on the lookout for sector-focused opportunities such as climate change, circular economy, logistics, and mobility as it seeks to deepen its portfolio in the Asia-Pacific, said a senior executive to DealStreetAsia. IFC – also the world’s largest development institution focused on the private sector in emerging… Continue reading World Bank’s IFC eyeing sector fund opportunities in APAC
Google in talks to top up in Indian hyperlocal delivery platform Dunzo
Alphabet Inc’s Google, which is already an investor in hyperlocal delivery startup Dunzo, is in talks to make an additional investment in the company, multiple sources privy to the development told DealStreetAsia. While the amount Google is looking to invest in Dunzo could not be ascertained, negotiations between the two firms are understood to be… Continue reading Google in talks to top up in Indian hyperlocal delivery platform Dunzo
Cool Japan Fund to invest $10m in Vietnam-based Pizza 4P’s
Tokyo-based private equity firm Cool Japan Fund (CJF) will invest around $10 million in 4P’s Holdings Pte Ltd, which operates Vietnam-based restaurant chain Pizza 4P’s, per an announcement. Concurrently, Vietnam-focused PE firm Mekong Capital has exited its investment in 4P’s to CJF and three other companies in a transaction completed last month, showed regulatory filings… Continue reading Cool Japan Fund to invest $10m in Vietnam-based Pizza 4P’s
Asia Inc looks to score the perfect goal at Qatar World Cup
Asia has never had a bigger presence at a World Cup than it will this year, either on or — by a more significant margin — off the field. A record six Asian teams will compete in the quadrennial soccer tournament, which kicks off in Qatar on Sunday, out of a total of 32. Asia-based companies,… Continue reading Asia Inc looks to score the perfect goal at Qatar World Cup
Buyout firm Carlyle seeks $1.6b for second renewable energy fund
Carlyle Group Inc is seeking at least $1.6 billion for its second private equity fund that will invest in assets focused on renewable energy and sustainability, according to people familiar with the matter. The Washington, D.C.-based firm began amassing capital this year for the new fund, dubbed Carlyle Renewable & Sustainable Energy Fund II, the sources said. If it meets its fundraising target, it would be double the size of its predecessor fund, the Carlyle Renewable & Sustainable Energy Fund, which… Continue reading Buyout firm Carlyle seeks $1.6b for second renewable energy fund
Singapore’s Legend Logistics weighing $146m IPO for early 2023: report
Singapore-headquartered Legend Logistics is looking to go public on the local stock exchange to raise some S$200 million ($146 million), Bloomberg reported on Thursday. The logistics firm is reportedly in talks with financial advisors for the potential first-time share sale, the report added citing sources close to the matter. The company is aiming for a… Continue reading Singapore’s Legend Logistics weighing $146m IPO for early 2023: report
Alibaba Group posts lower-than-expected quarterly revenues on pandemic woes
Chinese e-commerce giant Alibaba Group Holding Ltd posted a smaller-than-expected rise in quarterly revenue on Thursday as COVID-19 curbs and a worsening economic outlook stifled consumer spending. Retail spending in China has sagged this year alongside the government’s strict zero-COVID policies that have led to frequent snap lockdowns and hurt economic activity. Alibaba has also had to contend with stiff competition from the likes… Continue reading Alibaba Group posts lower-than-expected quarterly revenues on pandemic woes