Author: Deal Street Asia Online News

PE giant Carlyle files to raise sixth Asia buyout fund

Global private equity firm Carlyle Group Inc has officially filed to raise its sixth Asia fund, which was earlier touted as its biggest buyout vehicle for this region. In November last year, media reports indicated that Carlyle was seeking $8-10 billion for the Carlyle Asia Partners VI fund. In May this year, Bloomberg said the… Continue reading PE giant Carlyle files to raise sixth Asia buyout fund

Indonesia’s founder-turned-angel tribe grows on back of bustling startup ecosystem

Indonesian startup founders are doubling down on the country’s high octane ecosystem by backing the next generation of entrepreneurs, through solo investments, setting up angel networks with peers, and co-investing with venture capital firms. Even as sentiment in the broader industry weakens, angel investment networks are becoming more active in the region with the emergence of… Continue reading Indonesia’s founder-turned-angel tribe grows on back of bustling startup ecosystem

India adds fewer unicorns this year as investors tighten purse strings

The number of Indian startups entering the unicorn club this year may well be just half of last year, going by trends so far. While there were at least 45 unicorns in 2021 with a combined valuation of a little over $97 billion, there have been only 24 till end-October this year with a combined… Continue reading India adds fewer unicorns this year as investors tighten purse strings

Canada’s OTPP says any loss from its FTX investment to have limited impact

The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan. OTPP, Canada’s No. 3 pension fund, said it made the investments in FTX International and FTX U.S.… Continue reading Canada’s OTPP says any loss from its FTX investment to have limited impact

Chinese EV maker Nio posts bigger quarterly loss amid higher battery pricesHowever, it expects deliveries to almost double in the current quarter.

Chinese electric automaker Nio Inc on Thursday reported a bigger quarterly loss due to a jump in costs, and said it expects deliveries to almost double in the current quarter. Most Chinese electric vehicle (EV) makers are battling higher battery prices, intensifying competition, and a rise in cost of sales. Sales at Nio, Xpeng Inc and Li Auto Inc have surged in recent quarters on robust demand, helping them emerge… Continue reading Chinese EV maker Nio posts bigger quarterly loss amid higher battery pricesHowever, it expects deliveries to almost double in the current quarter.

Asian airlines fly high on pent-up demand but face cost pressures

Asian airline travel should reach about two-thirds of pre-pandemic levels by the end of the year with momentum going into 2023 based on bookings, the director general of the Association of Asia Pacific Airlines (AAPA) said on Thursday. Speaking on the sidelines of a meeting of the association in Bangkok, Subhas Menon, Menon told reporters that airlines underestimating pent–up demand had led to… Continue reading Asian airlines fly high on pent-up demand but face cost pressures

‘Confidence Crisis’ sends crypto plunging as FTX seeks fresh funds

Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin hovering near a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX, which was seeking new funds to plug a gaping hole in its finances. Larger rival Binance walked away from a bailout of FTX on Wednesday, sending cryptocurrency prices… Continue reading ‘Confidence Crisis’ sends crypto plunging as FTX seeks fresh funds

Indian food delivery platform Zomato’s Q2 losses reduce nearly 42%

Indian food delivery firm Zomato Ltd reported a smaller second-quarter loss on Thursday, helped by a sustained rise in online ordering. Consolidated net loss for the three months ended Sept 30 was 2.51 billion Indian rupees ($30.73 million), compared with 4.30 billion rupees a year earlier, the company said in a regulatory filing. Revenue from operations rose to 16.61 billion rupees from 10.24 billion rupees. Reuters… Continue reading Indian food delivery platform Zomato’s Q2 losses reduce nearly 42%

NIIF, JBIC sign pact to enhance Japanese investments in India

National Investment and Infrastructure Fund Limited (NIIF) on Thursday said it has signed a deal with Japan Bank for International Cooperation (JBIC) to promote Japanese investments in India by establishing a bilateral India-Japan Fund (IJF). The partnership is aiming for an investment of around $500-700 million in the IJF, according to a report by VCCircle.… Continue reading NIIF, JBIC sign pact to enhance Japanese investments in India