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
Author: Deal Street Asia Online News
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…
India Digest: upGrad to invest $30m in new campuses; JM Financial PE leads investment in Silveredge Tech
Higher education platform upGrad on Monday said it plans to invest $30 million to open 10 global campuses. Separately, JM Financial Private Equity’s third fund said it led an investment round of Rs 95 crore ($11.5 million) in Silveredge Technologies. upGrad to launch global campuses Higher education platform upGrad on Monday said it plans to… Continue reading India Digest: upGrad to invest $30m in new campuses; JM Financial PE leads investment in Silveredge Tech
Layoff worries mount in India: Udaan, Practically, Brainly latest to fire staff
Amid the ongoing funding crunch, layoffs continue to rise in the Indian startup ecosystem. While B2B e-commerce startup Udaan is laying off 300-350 employees in a fresh round of layoffs, edtech company Practically has laid off over 70% of its employees, and peer Brainly has partially shut down Indian operations and fired nearly all its… Continue reading Layoff worries mount in India: Udaan, Practically, Brainly latest to fire staff
Asia Digest: Indo startup Base raises $6m; Purpose Venture Capital scores $10m
Indonesia-based D2C startup Base raised $6 million in a Series A round, while Singapore-based venture investor Purpose Venture Capital secured its first commitment at $10 million. Indonesian startup Base raises $6m in Series A Indonesian direct-to-consumer beauty and wellness startup Base announced raising $6 million in a Series A funding round anchored by Rakuten Ventures,… Continue reading Asia Digest: Indo startup Base raises $6m; Purpose Venture Capital scores $10m
Logistics giant GLP nets $1b for sixth China income fundIts portfolio includes 20 logistics properties with 2.13 million square metres in total leasab…
Global logistics giant GLP has clinched RMB 7.6 billion ($1.05 billion) for the final close of its sixth China income fund, GLP China Income Fund VI (GLP CIF VI), according to an announcement on Monday. Under the portfolio of GLP CIF VI are 20 stabilised and income-producing logistics properties with 2.13 million square metres in… Continue reading Logistics giant GLP nets $1b for sixth China income fundIts portfolio includes 20 logistics properties with 2.13 million square metres in total leasab…
Investcorp plans major ramp up of India assets to $5b: Bloomberg
Alternative asset manager Investcorp is planning to increase its exposure to India in the next five years, Bloomberg reported on Monday, citing an interview with the firm’s executives. The firm currently manages just over $600 million in India, which is a mere 1.5% of its $42.7 billion worth of global assets. Investcorp expects to have… Continue reading Investcorp plans major ramp up of India assets to $5b: Bloomberg
DBS-Temasek debt financing platform EvolutionX invests in India’s API Holdings
EvolutionX Debt Capital, the growth-stage debt financing platform launched by Temasek and DBS, has made its first investment in API Holdings, India’s largest digital healthcare platform, at an undisclosed amount. The investment marks the first of a few planned capital raises and will be followed by equity infusion, Siddharth Shah co-founder and chief executive of… Continue reading DBS-Temasek debt financing platform EvolutionX invests in India’s API Holdings