Indonesia-listed tech major GoTo is said to be working on multiple options, including a convertible bond issue, private placement, and an initial public offering (IPO) in the US market, as it seeks to raise fresh capital, according to sources familiar with the matter. The need to accelerate its fundraising efforts comes as it stares at… Continue reading GoTo mulls options to raise capital amid expected selloff once IPO lock-up endsThe selloff in GoTo, after the lock-up period is lifted, will increase …
Author: Deal Street Asia Online News
VinaCapital Ventures looks to launch second $100m fund next year
VinaCapital Ventures, the VC arm of Vietnam-based asset manager VinaCapital, plans to launch its second $100-million fund, which will focus on providing growth capital, next year. Trung Hoang, partner at VinaCapital Ventures, said during the firm’s investor conference recently that the new vehicle will look at writing cheque sizes of up to $10 million at… Continue reading VinaCapital Ventures looks to launch second $100m fund next year
Dealmaking has slowed but enough capital available to back good cos: Avendus
Despite a palpable slowdown in funding amid uncertain economic conditions, financial services group Avendus Capital is not necessarily worried. “We believe this is an opportune time to back market-leading businesses. We have a very active pipeline of interesting deals in healthcare and IT services that we are currently evaluating,” Ritesh Chandra, managing partner of Avendus… Continue reading Dealmaking has slowed but enough capital available to back good cos: Avendus
VCs, founders in Pakistan call for profitability focus amid funding slowdown
2021 was a game-changing year for the nascent Pakistani startup ecosystem, which saw a record $350 million in fundraising across 81 deals. This sum was more than what the country’s startups garnered in the previous six years combined. However, that momentum was cut short in 2022 as the global and domestic macroeconomic uncertainty, coupled with… Continue reading VCs, founders in Pakistan call for profitability focus amid funding slowdown
FMO proposes $15m investment in Cambodian MFI Amret
Dutch development bank FMO has proposed to invest another $15 million in Amret Plc, the second-largest microfinance institution (MFI) in Cambodia, according to a disclosure. If approved, the investment will be FMO’s eighth in Amret since August 2013. So far, the Dutch lender has invested a total of $117.98 million in the Cambodian MFI. It… Continue reading FMO proposes $15m investment in Cambodian MFI Amret
JPMorgan launches fundraising platform, appoints Qian as SE Asia ECM chief
JPMorgan Chase & Co is launching a platform that aims to connect startup founders with venture capital investors to simplify the fundraising process, the bank told Reuters. The new platform, Capital Connect, focuses on serving the financing needs of startups from their early stages, marking the ambition of the biggest U.S. bank by assets to further expand into the private market and… Continue reading JPMorgan launches fundraising platform, appoints Qian as SE Asia ECM chief
Uber launches new advertising division to boost revenues
Uber Technologies Inc has launched a new advertising division as the ride-hailing firm looks to diversify its revenue sources through tie-ups with brands and marketers. With a reach of 122 million monthly active users globally, the company said on Wednesday it will sell ad space inside its ride-hailing and UberEats apps, along with in-vehicle digital ads, sponsored mails and storefront ads. “While consumers are making purchase decisions and waiting for… Continue reading Uber launches new advertising division to boost revenues
India regulator fines MakeMyTrip, Goibibo & Oyo for anti-competitive practices
India’s competition regulator said on Wednesday that it had fined online hotel-booking companies MakeMyTrip Ltd and Goibibo and IPO-bound hotel chain Oyo a combined $47 million for anti-competitive behaviour. The Competition Commission of India (CCI) has been investigating the companies since 2019 following allegations by a hotel body that MakeMyTrip gave special treatment to SoftBank-backed… Continue reading India regulator fines MakeMyTrip, Goibibo & Oyo for anti-competitive practices
Japan’s SBI said to be considering delisting Shinsei BankSBI said this month it planned to increase its stake to a majority 50% by the end of March
Japanese financial group SBI Holdings is considering delisting mid-size lender Shinsei Bank Ltd and will explore options with the country’s banking regulator, the Kyodo news agency reported on Wednesday. SBI said this month it planned to increase its stake to a majority 50.05% by the end of March. It raised its holding to around 48% last year. An SBI spokesperson said it had nothing to announce at… Continue reading Japan’s SBI said to be considering delisting Shinsei BankSBI said this month it planned to increase its stake to a majority 50% by the end of March
Dubai courier firm Aramex buys Florida e-commerce co MyUS for $265m
Dubai-listed courier firm Aramex said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal. Abu Dhabi sovereign wealth fund ADQ holds a 22.32% stake in Aramex, transferred to ADQ-owned Abu Dhabi Ports in January. Abu Dhabi Ports made its stock market debut in February, raising 4 billion dirhams ($1.09 billion). “As a result of this acquisition, MyUS will… Continue reading Dubai courier firm Aramex buys Florida e-commerce co MyUS for $265m