AlphaVest Acquisition, a special purpose acquisition company (SPAC) that targets businesses in Asia, has filed with the US Securities and Exchange Commission (SEC) to raise up to $60 million in an initial public offering (IPO). The blank cheque company, led by executives of Shenzhen Guoxing Capital and V-Stone Capital, is offering 6 million units at… Continue reading Asia-focused SPAC AlphaVest Acquisition files for $60m IPO in the US
Author: Deal Street Asia Online News
China Deal Review: A $2.5b megadeal props up startup fundraising in October
As the number of venture deals in Greater China slid further from August’s peak, October saw 178 startups raise a combined $5.1 billion. This included one megadeal that contributed almost half of the month’s total financing. The deal count of 178 in October marked a decrease of 9.6% from the prior month. The deal value… Continue reading China Deal Review: A $2.5b megadeal props up startup fundraising in October
India’s GreenCell receives $55m sanctions from ADB, others to make e-busesIt has also received grants worth $325,000 from CTF and $5.2m from the Goldm…
Electric bus maker GreenCell Mobility has received $55 million in sanctions from Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Clean Technology Fund (CTF) to develop 255 electric battery-powered buses. GreenCell, which is backed by Eversource, a joint venture between investment management firm Everstone Group and solar energy project developer Lightsource bp, has… Continue reading India’s GreenCell receives $55m sanctions from ADB, others to make e-busesIt has also received grants worth $325,000 from CTF and $5.2m from the Goldm…
Private equity fund JIP submits $15b bid for Toshiba
Private equity fund Japan Industrial Partners has submitted a bid of around $15 billion to buy Toshiba Corp, the Nikkei newspaper reported on Monday, delivering the proposal just before a looming preferred-bidder deadline. JIP‘s proposal, which includes more than ten investors including utility Chubu Electric Power Co Inc and financial services group Orix Corp, appears… Continue reading Private equity fund JIP submits $15b bid for Toshiba
Värde Partners to invest $1b in India in a year, per reportVärde is looking to invest $100-200m per deal, MD Sandeep Chandak told Mint.
US alternative investment firm Värde Partners plans to invest as much as $1 billion to grow its portfolio in India as part of a broader strategy to tap potential opportunities in the credit market, Mint reported on Monday. “Over the next 12 months, across 6-8 transactions, we are looking at anywhere around $800 million to… Continue reading Värde Partners to invest $1b in India in a year, per reportVärde is looking to invest $100-200m per deal, MD Sandeep Chandak told Mint.
Tencent, Baidu, Weibo downgraded by Morningstar ESG unit over censorship
Sustainalytics, the environmental, social and governance (ESG) rating unit of U.S. financial services group Morningstar, has downgraded Tencent Holdings, Baidu and Weibo Corp over their role in China’s expanding control of its internet. The move, which was made in recent months, prompted at least one U.S. asset manager, WisdomTree Investments, to delete the firms from… Continue reading Tencent, Baidu, Weibo downgraded by Morningstar ESG unit over censorship
Abu Dhabi’s Chimera Capital launches $2b private credit fund
Abu Dhabi investment firm Chimera Capital said on Monday it was launching a $2 billion private credit fund with U.S. alternative asset manager Alpha Wave Global. Chimera Capital and Alpha Wave Global will jointly manage the Alpha Wave Private Credit, which will look to provide private, senior secured, floating rate loans for companies, Chimera said. Its mandate is global but has a… Continue reading Abu Dhabi’s Chimera Capital launches $2b private credit fund
Chinese AI chatbot Xiaoice bags $138m to accelerate virtual employee technology
China’s AI chatbot developer Xiaoice has raised 1 billion yuan ($138.4 million) to speed up the development of its ‘AI Being’ technology in a bid to bring its ‘digital employees’ to the mainstream, the company said. Neither the details of the investors nor the funding stage was divulged in the announcement. AI Being, a term… Continue reading Chinese AI chatbot Xiaoice bags $138m to accelerate virtual employee technology
Renault’s talks with Geely complicated by Nissan’s concerns about tech transfer
Nissan Motor Co’s concerns about technology transfers have complicated its partner Renault’s plans to sell a large stake in its gasoline-engine business to China’s Geely, three people familiar with the talks said. Renault is pursuing a complex two-pronged restructuring. On one hand, it is aiming to revamp its alliance with Nissan and convince the Japanese automaker to invest in a new electric car unit called… Continue reading Renault’s talks with Geely complicated by Nissan’s concerns about tech transfer
China’s second-largest chipmaker gets nod for $2.5b Shanghai IPOThe planned IPO comes as China’s chip companies gear up for steeper competition with U…
Chinese chip manufacturer Hua Hong Semiconductor Ltd has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The planned initial public offering (IPO) comes as China’s chip companies gear up for steeper competition with the United States… Continue reading China’s second-largest chipmaker gets nod for $2.5b Shanghai IPOThe planned IPO comes as China’s chip companies gear up for steeper competition with U…