Indian digital payments firm PhonePe is in talks to raise funds in a round led by General Atlantic at a valuation of $12 billion, financial news website Moneycontrol reported on Friday, citing people aware of the matter. U.S. private equity group General Atlantic is likely to lead the round with an investment of $450 million… Continue reading India: Walmart-backed PhonePe said to be in talks to raise funds at $12b valuation
Author: Deal Street Asia Online News
US weighs security reviews for Musk’s Twitter, Starlink deals
Biden Administration officials are discussing whether the United States should subject some of Elon Musk’s ventures to national review including the deal for Twitter Inc and SpaceX’s Starlink satellite network, Bloomberg News reported on Thursday, citing people familiar with the matter. The SpaceX chief in recent times has taken to Twitter to announce proposals to… Continue reading US weighs security reviews for Musk’s Twitter, Starlink deals
Twitter denies reports about huge layoffs post-takeover
Twitter Inc on Thursday clarified to staff that there are no plans for company-wide layoffs since it signed a deal to be acquired by billionaire Elon Musk, after a media outlet reported that Musk is considering layoffs at the company. Twitter General Counsel Sean Edgett emailed employees on Thursday saying the company does not plan… Continue reading Twitter denies reports about huge layoffs post-takeover
Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019
Early-stage investing platform Indian Angel Network (IAN) has launched its second fund, IAN Alpha Fund, with a target corpus of about $120 million (Rs 1000 crore), per an announcement on Thursday. The fund is aligned with IAN’s vision of investing in 500 startup, with Rs 5,000 crore, and creating 500,000 jobs, IAN said in a… Continue reading Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019
Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space
Singapore-headquartered Dymon Asia Private Equity (DAPE) is looking at expanding its presence in Thailand, which the firm sees as one of the key focus markets in Southeast Asia. Having invested predominantly in Singapore and Malaysia-based companies, DAPE is seeking opportunities in the food-related sectors in Thailand due to the country’s access to a wide range… Continue reading Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space
Peter Lim-backed Singapore eyecare startup Plano sets sight on China market
Singapore-based eyecare firm Plano is hoping to make it big in China, where the annual optometry market is estimated to be over $13.9 billion. The company, backed by Singaporean business magnate Peter Lim, provides a parental control-enabled mobile app to help manage children’s device use and, consequently, eye health. Go to Source
Deal count soars in Q3, but fundraising falls YoY in Greater China
The dearth of growth- to late-stage megadeals continued to suppress fundraising in Greater China in the third quarter, despite the volume of PE-VC deals reaching a record high. The total value of venture investments in startups headquartered in mainland China, Hong Kong, Macau, and Taiwan stood at $15.1 billion in July-September 2022, down 34.7% from… Continue reading Deal count soars in Q3, but fundraising falls YoY in Greater China
SoftBank sets up executive committee to oversee Vision Fund 2
SoftBank Group Corp has created an executive committee to oversee its second Vision Fund, Latin America funds and any future funds, its founder and Chief Executive Masayoshi Son said in a memo to employees reviewed by Reuters. Alex Clavel will oversee investing teams in the United States and Latin America, Greg Moon will manage teams in Europe and Asia and Navneet Govil, Vision Fund‘s chief financial officer, will oversee other functional teams,… Continue reading SoftBank sets up executive committee to oversee Vision Fund 2
India regulator fines Google $162m for anti-competitive practices in AndroidGoogle told not to offer any incentives to smartphone makers for exclusive…
India’s competition regulator said on Thursday it has fined Alphabet Inc’s Google 13.38 billion Indian rupees ($161.95 million) for anti-competitive practices related to Android mobile devices. The Competition Commission of India (CCI) also ordered Google not to offer any incentives to smartphone makers for exclusively carrying its search services. Google did not immediately respond to… Continue reading India regulator fines Google $162m for anti-competitive practices in AndroidGoogle told not to offer any incentives to smartphone makers for exclusive…
Strong ecosystem, partnerships help Bank Jago book a profit in 9 months to Sept
Gojek-backed Indonesian digital lender Bank Jago has posted a significant growth in revenue and booked a profit in the first nine months of 2022 on the back of a strong ecosystem and new collaborations, according to a statement on Thursday. During January to September 2022, the lender posted a profit of 41 billion rupiah ($2.63… Continue reading Strong ecosystem, partnerships help Bank Jago book a profit in 9 months to Sept