Author: Deal Street Asia Online News

EU said to target China’s Temu and Shein with proposed import duty

The European Union is drawing up plans to impose customs duties on cheap goods bought from Chinese online retailers including Temu, Shein, and AliExpress, the Financial Times reported on Wednesday, citing three people briefed on the matter. The European Commission later this month will suggest scrapping a current 150 euros ($161) threshold under which items… Continue reading EU said to target China’s Temu and Shein with proposed import duty

Asian Investors set to ramp up allocation to secondaries: Cambridge Associates pollGrowth equity, VC, private credit, and buyouts continue to be the m…

Secondaries will be one of the top strategies that Asian institutional investors intend to increase allocation to over the next 12 months, according to the latest poll conducted by global investment firm Cambridge Associates. Currently, growth equity, venture capital, private credit, and buyouts stand out as some of the most popular strategies among their clients… Continue reading Asian Investors set to ramp up allocation to secondaries: Cambridge Associates pollGrowth equity, VC, private credit, and buyouts continue to be the m…

Indonesia’s Superbank secures $73m more from Grab, Singtel, KakaoBank

Indonesian digital banking player PT Super Bank Indonesia (Superbank) has secured an additional investment of 1.2 trillion rupiah ($73.2 million) from its shareholders Grab, Singtel, and KakaoBank. The investment aims to support Superbank’s services and product innovations, according to a statement issued on Wednesday. “We greatly appreciate the trust of our shareholders in supporting our… Continue reading Indonesia’s Superbank secures $73m more from Grab, Singtel, KakaoBank

Singapore’s Spenmo launches new brand Summit after troubled 2023

After going through a series of troubles last year, Singapore expense management startup Spenmo launched a smart expense management solution for small to mid-sized companies on Wednesday called Summit. In May last year, DealStreetAsia first reported, citing several sources, that the firm faced major lapses in risk and governance, leading to incidents involving alleged bribery… Continue reading Singapore’s Spenmo launches new brand Summit after troubled 2023

SEA Digest: Indonesia’s Elevarm secures $1m commitment; Choco Up partners with Set Sail AI

Indonesian agritech firm Elevarm has secured a $1-million commitment from its new partners while Choco Up has teamed up with Set Sail AI for generative AI adoption. Indonesian agritech startup Elevarm secures $1m investment pledge Elevarm, an agritech startup based in Jakarta, announced that it has secured $1 million in investment commitments from its new… Continue reading SEA Digest: Indonesia’s Elevarm secures $1m commitment; Choco Up partners with Set Sail AI

Indonesia’s startup story gets a sprinkle of stardust amid global trend

Celebrities, including actors, artists, and athletes, are increasingly making their mark in the Indonesian startup industry. Driven by significant disposable income and the lure of potentially lucrative returns, some have turned into angel investors, while others have dived into the startup world as founders or brand ambassadors—sometimes both. Go to Source

SEA Digest: INNOHAS, Heymax.ai bag funding; Gentari, Vitra join handsTenity, Ascend Angels, XA Network, and other strategic investors also participate…

VinaCapital Ventures has led a Series A-3 investment in INNOHAS; Heymax.ai has raised $2.6 million in seed funding led by January Capital; and Gentari is partnering with Virta to expand the EV charging network in Southeast Asia. VinaCapital Ventures invests in Korea’s INNOHAS VinaCapital Ventures, the venture capital arm of Vietnam-based asset manager VinaCapital, has led… Continue reading SEA Digest: INNOHAS, Heymax.ai bag funding; Gentari, Vitra join handsTenity, Ascend Angels, XA Network, and other strategic investors also participate…

Siguler Guff raises $110m so far for latest emerging markets fund, to double down on India investments

Global multi-strategy private markets investment firm Siguler Guff has raised over $110 million for its upcoming $300 million Global Emerging Markets Growth Opportunities Fund II (GEMGO II), the company announced on Tuesday. The fund will focus primarily on India with plans to invest over $250 million across 8-10 mid-market companies in core consumption-driven sectors such… Continue reading Siguler Guff raises $110m so far for latest emerging markets fund, to double down on India investments

Vietnam said to be setting up new fund to attract foreign investment

Vietnam’s Ministry of Planning and Investment is finalising a draft of a plan to set up a fund to help attract foreign investment, according to a ministry document reviewed by Reuters. The draft is to be submitted to the central government by Friday, according to the document dated June 29. The Southeast Asian country, a… Continue reading Vietnam said to be setting up new fund to attract foreign investment