Shares in Japan’s SoftBank Group Corp plunged on Monday after the company reported a heavy loss at its Vision Fund investment arm for a third consecutive quarter. The shares sank 13% in early afternoon trade – heading for their biggest one-day loss in more than two and a half years. Analysts said, however, that the share price slide was in part a pullback from a steep rally that had been driven… Continue reading SoftBank shares crash on hefty Vision Fund losses
Author: Deal Street Asia Online News
People Digest: Circles names chief business officer; Northern Trust appoints APAC head of digital assetsBrian Finn joins Circles, while Alvin Chia mov…
Warburg Pincus-backed Circles has appointed Brian Finn as chief business officer, while Chicago-based Northern Trust has appointed Alvin Chia as its head of Digital Assets Innovation for Asia-Pacific. Brian Finn joins Circles as chief business officer Singapore-based telco Circles has appointed Brian Finn as chief business officer, according to an announcement. In this role, Finn… Continue reading People Digest: Circles names chief business officer; Northern Trust appoints APAC head of digital assetsBrian Finn joins Circles, while Alvin Chia mov…
Binance CEO calls for stable, clear regulations for crypto industry
Dominant cryptocurrency exchange Binance‘s chief executive Changpeng Zhao called for new but stable and clear regulations for the industry, in light of recent developments and participants “cutting corners”. “We’re in a new industry, we’ve seen in the past week, things go crazy in the industry,” Zhao told a gathering of G20 leaders at the summit in Bali. “We do need some regulations, we… Continue reading Binance CEO calls for stable, clear regulations for crypto industry
SG’s Spenmo said to be negotiating down round with investors
Singapore-based spend management software firm Spenmo is negotiating a down round less than a year after closing its Series B fundraise led by Tiger Global, sources privy to the matter told DealStreetAsia. The startup had closed its Series B round at $85.35 million in January, which had pegged its post-money valuation at $500 million. Go… Continue reading SG’s Spenmo said to be negotiating down round with investors
Germany’s BioNTech to set up mRNA vaccine facility in Singapore
BioNTech, the German biotech that developed a widely used COVID-19 vaccine with Pfizer Inc, acquired a manufacturing facility in Singapore, its first in Asia, the company said on Monday. The facility, bought from a Novartis unit, will be its first messenger ribonucleic acid, or mRNA, facility in Singapore and support its vaccines production for the Asia Pacific region, BioNTech said in a statement, without disclosing financial details. MRNA vaccines, which… Continue reading Germany’s BioNTech to set up mRNA vaccine facility in Singapore
Taiwan’s AppWorks to make first close of fourth fund this monthAppWorks, which focuses on Taiwan and SE Asia, is looking to hit the first close at $20…
Taiwan-based venture capital (VC) firm AppWorks is looking to make the first close of its fourth flagship fund at about $200 million as early as this month, its top executives told DealStreetAsia in an interview. The total corpus that the firm is targeting to raise by mid-2023 is $360 million, even as the global economic… Continue reading Taiwan’s AppWorks to make first close of fourth fund this monthAppWorks, which focuses on Taiwan and SE Asia, is looking to hit the first close at $20…
Indonesian digital signature startup Privy raises $48m in KKR-led Series C funding
Privy, a Jakarta-based startup that provides universal identity and digital signature services, has raised $48 million in a Series C funding round anchored by private equity giant KKR and backed by existing investors MDI Ventures, GGV Capital, and Telkomsel Mitra Inovasi. New investors, including Singtel Innov8, also participated in the funding round that will help… Continue reading Indonesian digital signature startup Privy raises $48m in KKR-led Series C funding
The LP View: Cautious about growth assets amid global slowdown, says LGT’s Coulter
More limited partners (LPs) may be turning to direct private equity and venture capital deals, saving on general partner (GP) fees, but the dynamics of the industry that require sizeable, on-the-ground teams could be limiting. Doug Coulter, a partner at LGT Capital Partners, told DealStreetAsia in an interview that while the Switzerland-headquartered firm is taking… Continue reading The LP View: Cautious about growth assets amid global slowdown, says LGT’s Coulter
Indonesia’s Pertamina NRE invests $500m in energy fund with MDI Ventures
Indonesian state-owned firm Pertamina’s new renewable energy subsidiary, Pertamina NRE, will be investing $500 million in an energy fund set up in collaboration with state-owned Telkom Indonesia’s venture capital arm, MDI Ventures. Pahala Mansury, Indonesia’s vice minister of state-owned enterprises, said the energy fund will invest over a five-year period. “We expect more investors to… Continue reading Indonesia’s Pertamina NRE invests $500m in energy fund with MDI Ventures
Canada’s CPP Investments committed $889m to Asia funds, businesses in Q3 2022
The Canada Pension Plan Investment Board (CPP Investments), one of the world’s largest pension funds, has made at least $889 million in total commitments to Asia, including China and India, in the third quarter of this year. In its latest report, the pension fund said it committed $400 million to CVC Capital Partners Asia VI… Continue reading Canada’s CPP Investments committed $889m to Asia funds, businesses in Q3 2022