Sequoia Capital has marked down its investment in the embattled crypto exchange FTX to zero, according to a note shared by the firm with its limited partners (LPs) on Thursday. “Sequoia Capital’s exposure to FTX is limited. We own FTX.com and FTX US in one private fund, Global Growth Fund III. Our $150 million cost… Continue reading Sequoia marks down its investment in embattled crypto bourse FTX to zero
Author: Deal Street Asia Online News
Singapore jobs portal FastCo raises $7.5m Series A fundingOSK Ventures International (OSKVI) led the latest tranche of Series A.
FastCo, a Singapore-based company behind job portals FastJobs and FastGig, has raised S$4.7 million ($3.4 million) in the extension of its Series A funding round, which brought the total round to S$10.5 million ($7.5 million). Malaysia-based investment firm OSK Ventures International (OSKVI) led the round, which was joined by existing investor Cento Ventures and new… Continue reading Singapore jobs portal FastCo raises $7.5m Series A fundingOSK Ventures International (OSKVI) led the latest tranche of Series A.
Data Vantage: Novelship, Borneo pocket funding; NEON, Cleantech Solar report financials
Novelship, a Singapore-based sneaker and streetwear marketplace, received $9.5 million this week from East Ventures, GSR Ventures and iGlobe Partners in Series A funding. The round was announced in May. In a separate transaction concluded this week, the startup allotted shares worth $12.2 million to convertible noteholders, including its Series A investors, Rocket Internet, Global… Continue reading Data Vantage: Novelship, Borneo pocket funding; NEON, Cleantech Solar report financials
Tesla stock hits 2-year low after Musk sells $4b worth of sharesThe latest sale brings the total amount of Tesla stock sold by Musk since last Novembe…
Tesla Inc shares slid to their lowest level in nearly two years on Wednesday after Chief Executive Elon Musk disclosed he sold another $3.95 billion worth of shares in the electric-vehicle maker. Shares ended down 7.2% at $177.59, the lowest level since Nov. 23, 2020. Musk’s latest share sale fueled jitters about the fallout of… Continue reading Tesla stock hits 2-year low after Musk sells $4b worth of sharesThe latest sale brings the total amount of Tesla stock sold by Musk since last Novembe…
KKR, Apollo and Carlyle become latest targets in SEC’s communication probeThe enquiry, which initially involved some of the largest US banks, was laun…
U.S. private equity giants KKR & Co Inc, Apollo Global Management and Carlyle Group were added to a broad regulatory inquiry into how financial firms track employees’ digital communications, filings by the companies showed on Wednesday. The scope of the investigation around how Wall Street handles work-related communications on personal devices and apps such as… Continue reading KKR, Apollo and Carlyle become latest targets in SEC’s communication probeThe enquiry, which initially involved some of the largest US banks, was laun…
Indonesian startups explore new routes as funding dries up
As investors turn cautious in lending to startups, growth-stage tech companies in Indonesia are looking at alternative financing options such as convertible notes, venture debt, or pure debt to raise funds this year. While logistics company Kargo is closing around $15 million in a bridge round from existing investors, according to sources aware of the… Continue reading Indonesian startups explore new routes as funding dries up
BYD launches luxury EV line in challenge to BMW, Mercedes-Benz
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Startup fundraising poised to fall significantly short of 2021 levels across Asia
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IFC proposes up to $100m senior loan to Vietnam lender SeABank
The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend a senior loan of up to $100 million to Hanoi-based Southeast Asia Commercial Joint Stock Bank (SeABank), according to a disclosure. The proposed loan, which has a tenor of up to five years and will come from IFC’s own… Continue reading IFC proposes up to $100m senior loan to Vietnam lender SeABank
Germany blocks Chinese investment in two chipmakers over security concernsConcerns over national security and the flow of sensitive technological know…
The German government on Wednesday blocked prospective Chinese investment in two domestic semiconductor producers after the moves raised concerns over national security and the flow of sensitive technological know-how to Beijing. The government said it had vetoed the takeover of the chip factory of the Dortmund-based company Elmos by Silex, a Swedish company that is a subsidiary of Chinese group Sai Microelectronics. Berlin also blocked investment in ERS Electronic, which is based in the… Continue reading Germany blocks Chinese investment in two chipmakers over security concernsConcerns over national security and the flow of sensitive technological know…