Neev II Fund, a climate- and sustainability-focused SME fund, on Monday announced an undisclosed investment in Hygenco Green Energies Pvt Ltd, a green hydrogen developer. Hygenco aims to deploy over $300 million in green hydrogen projects across India in the next three years, and Neev’s investment will provide the necessary capital to Hygenco for commercialising… Continue reading Neev II Fund backs Hygenco Green Energies and India deals worth $319m
Author: Deal Street Asia Online News
Jeep joint venture in China to file for bankruptcy, say partners
The joint venture that makes Jeeps in China will file for bankruptcy, partners Stellantis and Guangzhou Automobile Group (GAC) said on Monday, after a long decline for the oldest foreign auto brand in the world’s largest car market. The move comes after Stellantis‘ surprise decision in July to end the venture with GAC, only months after saying it would raise its stake to 75% from 50%. Stellantis CEO Carlos Tavares… Continue reading Jeep joint venture in China to file for bankruptcy, say partners
India: BPEA Credit closes Fund III with capital commitments worth $475mThe third fund is more than three times larger than its predecessor fund
Baring Private Equity Asia’s credit unit, BPEA Credit, on Monday announced that it has closed its third private credit platform, BPEA Credit – India Fund III, with capital commitments worth $475 million. Fund III, which is incorporated in the state of Mauritius, has secured commitments from several North American pension fund managers such as the… Continue reading India: BPEA Credit closes Fund III with capital commitments worth $475mThe third fund is more than three times larger than its predecessor fund
China Renaissance appoints key execs in SE Asia expansion drive
China Renaissance Holdings Ltd has appointed two senior executives in Singapore, the lender said in a statement on Monday, as the investment bank looks to expand its operations in Southeast Asia. The move comes at a time where tough measures to combat the spread of COVID-19 in China and Hong Kong have led to some entrepreneurs and investors to set up shop or expand… Continue reading China Renaissance appoints key execs in SE Asia expansion drive
Blackstone to buy majority stake in Emerson’s $14b climate tech unit
US industrial firm Emerson Electric Co is selling a majority stake in its climate–technologies unit to Blackstone Inc, in a deal that would value the unit at $14 billion including debt, the Wall Street Journal reported on Monday. The deal, expected to be announced later in the day, would give Blackstone a 55% stake in the unit, according to the report, citing executives. Emerson would retain a 45% stake. Blackstone and its co-investors would contribute $4.4 billion… Continue reading Blackstone to buy majority stake in Emerson’s $14b climate tech unit
Hong Kong may allow retail investors to trade in crypto
Hong Kong is looking to allow “a suitable degree” of crypto access to retail investors, and its market regulator will soon kickstart a public consultation for the same, according to a policy statement announced on Monday. “Hong Kong is open to the possibility of having exchange traded funds (ETFs) on virtual assets in Hong Kong,”… Continue reading Hong Kong may allow retail investors to trade in crypto
MindWorks upsizes Fund IV target to $250m, ropes in HKU endowment fund as LPThe firm had initially planned to raise $150-200 million.
MindWorks Capital, a Hong Kong-based venture capital (VC) firm with investments in logistics giant Lalamove, has upsized the fundraising target of its Fund IV to about $250 million amid rising investors’ interest in a pan-Asia strategy. MindWorks, which focuses on cross-border startups in the pan-Asian market, is in the process of raising $200-250 million for… Continue reading MindWorks upsizes Fund IV target to $250m, ropes in HKU endowment fund as LPThe firm had initially planned to raise $150-200 million.
At $3.1b, fundraising by Indian startups hits seven-quarter low in Q3
Hit by the ongoing funding winter and macroeconomic headwinds, fundraising by Indian startups hit a seven-quarter low to touch $3.1 billion in the third quarter of 2022, data from DealStreetAsia DATA VANTAGE‘s latest report India Deal Review: Q3 2022 show. Not only was the amount less than half the financing secured in Q2 2022, the… Continue reading At $3.1b, fundraising by Indian startups hits seven-quarter low in Q3
The LP View: Critical to determine which track records are repeatable
Limited partners (LPs) are keeping a close eye on distributions as the broader environment gets tougher for managers. “The critical thing for LPs to determine right now is, which of the track records are truly repeatable, and which are not. There is no guarantee that the next 10 years are going to be as good… Continue reading The LP View: Critical to determine which track records are repeatable
Australia’s Nitro Software receives $320m bid from KKR’s Alludo
Australia’s Nitro Software said on Monday that it would back a near A$500 million ($320.15 million) offer from KKR Inc’s Alludo that trumps an earlier bid from major shareholder Potentia Capital Management. Alludo made the bid early Monday at A$2.00 per share, which it said was an 11% premium to Potentia’s revised offer of $A1.80 per share.… Continue reading Australia’s Nitro Software receives $320m bid from KKR’s Alludo