Author: Deal Street Asia Online News

Indian PE firm Motilal Oswal Alternates in talks to top up in VVDN Technologies

India-focused fund manager Motilal Oswal Alternates, which is already an investor in Gurugram-based product engineering firm VVDN Technologies, is in talks to pump additional capital into the company, multiple sources familiar with the matter told DealStreetAsia. Negotiations are gaining pace as the company looks to raise funding in the range of $125-150 million, the sources… Continue reading Indian PE firm Motilal Oswal Alternates in talks to top up in VVDN Technologies

Binance plans to buy rival FTX’s non-US unit in latest crypto bailout

Crypto giant Binance signed a non-binding agreement on Tuesday to buy FTX’s non-US unit to help cover a “liquidity crunch” at the rival exchange, marking an abrupt change in fortune for the digital currency billionaire and FTX CEO Sam Bankman-Fried. The surprising deal between high-profile rivals Bankman-Fried and Binance CEO Changpeng Zhao raised fresh concerns about the risks investors… Continue reading Binance plans to buy rival FTX’s non-US unit in latest crypto bailout

US pension major CalPERS commits $282m to Sequoia China’s four funds

The California Public Employees’ Retirement System (CalPERS), the largest pension fund in the US, has committed $282 million in total to Sequoia Capital China’s four new China venture capital funds, according to a disclosure. Separately, the US pension fund also made an additional $1.26 billion commitment to Golden Reef Infrastructure Trust, a fund managed by QIC,… Continue reading US pension major CalPERS commits $282m to Sequoia China’s four funds

German ministry said to favour blocking Chinese takeover of Elmos’ chip productionElmos said the German government may block the sale to competitor Si…

Germany’s economy ministry has recommended to the cabinet that the government block the Chinese takeover of Elmos‘ chip factory, saying it would pose a threat to national security, ministry sources said on Tuesday. Milder measures, such as an injunction, are not suitable for addressing the identified dangers, added the sources. Elmos said on Monday that the German… Continue reading German ministry said to favour blocking Chinese takeover of Elmos’ chip productionElmos said the German government may block the sale to competitor Si…

Dubai’s Palm Island developer bags $4.6b funding for new waterfront projects

Dubai state developer Nakheel has secured 17 billion dirhams ($4.63 billion) in financing as the group behind the palm-shaped islands accelerates plans for new waterfront projects including Dubai Islands amid a red hot property market. Nakheel said in a statement on Tuesday that the transaction comprised of 11 billion dirhams in refinancing and additional funds of 6 billion… Continue reading Dubai’s Palm Island developer bags $4.6b funding for new waterfront projects

Xiaomi backs Chinese auto electronics maker Atech’s $69m Series C roundThe deal marks Xiaomi’s latest investment in the auto sector.

Xiaomi has invested in auto electronics maker Atech Automotive, in the Chinese smartphone maker’s latest bet on the country’s auto industry after venturing into electric vehicle (EV) production last year. Atech Automotive, a nearly-two-decade-old Chinese manufacturer of auto electronics used in intelligent and autonomous driving vehicles, announced on Tuesday the completion of its Series C… Continue reading Xiaomi backs Chinese auto electronics maker Atech’s $69m Series C roundThe deal marks Xiaomi’s latest investment in the auto sector.

India: FirstCry, Myntra early backer Chiratae marks first close of growth fund at $93m

Venture capital firm Chiratae Ventures on Tuesday said it has raised $93 million (Rs. 759 crore) for the first close of its ‘Growth Fund I’ to invest in growth-stage startups. The firm said it plans to now close its greenshoe commitments by Dec 2022 and is targeting to invest across 15-20 startups raising Series C… Continue reading India: FirstCry, Myntra early backer Chiratae marks first close of growth fund at $93m

Grab digibank senior exec Reuban Lai said to be leaving

Reuben Lai, the executive director of GXS Bank — the digital banking joint venture of Grab Holdings and Singapore Telecommunications (Singtel) — is said to be leaving the company at the end of this year. He is, however, said to remain a director on the board of GXS’ digital bank in Malaysia. DealStreetAsia has reached… Continue reading Grab digibank senior exec Reuban Lai said to be leaving

Investcorp plans major ramp up of India assets to $5b in medium term, says co-CEOThe firm is looking at investment opportunities in Indonesia and the …

Editor’s note: This story, originally published on Nov. 7, has been updated to include the company’s comments. Alternative assets manager Investcorp is planning to increase its exposure to India in the next five years, its co-CEO Rishi Kapoor told DealStreetAsia. The firm currently manages just over $600 million in India, which is a mere 1.5%… Continue reading Investcorp plans major ramp up of India assets to $5b in medium term, says co-CEOThe firm is looking at investment opportunities in Indonesia and the …