Philippine billionaire Enrique Razon’s infrastructure investment arm said on Wednesday it plans to construct what will be the world’s largest solar power facility, joining a growing number of local companies embracing the development of renewables. Unlisted Prime Infrastructure Holdings Inc said the facility will have a capacity of 2,500-3,500 megawatts combined with a 4,000MWh to 4,500MWh… Continue reading Philippine tycoon to build world’s largest solar power facility
Author: Deal Street Asia Online News
Asia Digest: LUCA Science raises $30m; Solana launches $100m fund …
Japanese biopharma producer LUCA Science has raised a ¥3.86-billion ($30.3 million) oversubscribed Series B financing round while Solana Ventures and the Solana Foundation have formed a $100-million fund. LUCA Science raises $30.3m Japan’s LUCA Science has raised ¥3.86 billion ($30.3 million) in an oversubscribed Series B financing round co-led by DCI Partners, 4BIO Capital and… Continue reading Asia Digest: LUCA Science raises $30m; Solana launches $100m fund …
HSBC shuts down Hong Kong-based trade startup Serai
A Hong Kong-based trade platform launched by HSBC Holdings three years ago with much fanfare has shut down after failing to build a commercially viable business, the London-headquartered bank said on Wednesday. Serai, a wholly-owned subsidiary of Europe’s biggest bank, that connected small-and-medium-sized apparel makers with component suppliers worldwide, was HSBC‘s first investment in a non-banking tech startup.… Continue reading HSBC shuts down Hong Kong-based trade startup Serai
Malaysia’s e-commerce aggregator iPrice Group lays off 20% employees
iPrice Group, the Southeast Asian e-commerce aggregator platform, announced that it has laid off 20% of its staff as part of several measures to focus on its core mission “to help people save money” shopping online. The move comes three months after the company announced a $5-million investment from Japanese conglomerates Itochu Corporation and KDDI… Continue reading Malaysia’s e-commerce aggregator iPrice Group lays off 20% employees
Jiraaf raises $7.5m from Accel, others and India deals worth $296m
Jiraaf, a platform for new-age, high-yield fixed-income investment opportunities, on Wednesday announced that it has raised $7.5 million in its Series A funding round led by Accel Partners, Mankekar Family Office, Aspire Family Office (Dr Bhaskar Shah) and other angel investors. The financing also saw participation from multiple angel investors, including Capital A, the founders of… Continue reading Jiraaf raises $7.5m from Accel, others and India deals worth $296m
PH mezzanine investor ARQCapital eyes final close of $28m fund next year …
Philippine-based mezzanine investor ARQCapital Partners is confident of hitting the final close of its 1.5-billion-pesos ($28 million) fund next year to invest in up to 50 high-growth medium enterprises (MEs) in the country. ARQ founding partner and CEO Edmund Solilapsi said in an online news briefing on Wednesday that the firm has already raised a… Continue reading PH mezzanine investor ARQCapital eyes final close of $28m fund next year …
Emtek increases stake in Bukalapak via digital arm for $15.8m
The Indonesian media and tech conglomerate PT Elang Mahkota Teknologi Tbk (popularly known as Emtek) has increased its stake in the online marketplace Bukalapak through its digital arm for around 229 billion rupiah, according to a regulatory filing on Wednesday. The move is part of Emtek’s bid to strengthen support for the all-commerce industry, which… Continue reading Emtek increases stake in Bukalapak via digital arm for $15.8m
SEA Digest: Grab launches mapping service; Appota raises new funding; Finhay acquires Vina Securities
Southeast Asia’s super-app Grab Holdings launched GrabMaps, a new enterprise service, on Wednesday. Vietnam’s digital entertainment content provider Appota Group has raised an undisclosed amount in an investment led by Mirae Asset Venture Investment while robo-advisor Finhay has completed the acquisition of securities company Vina Securities. Grab launches GrabMaps Southeast Asia’s super app Grab Holdings… Continue reading SEA Digest: Grab launches mapping service; Appota raises new funding; Finhay acquires Vina Securities
Chinese self-driving solutions developer MINIEYE raises $120m
MINIEYE, a Chinese developer of visual sensing solutions for intelligent and autonomous driving vehicles, has raised 800 million yuan ($120 million) across three tranches of its Series D funding round to accelerate the R&D and commercialisation of advanced self-driving products. Shenzhen-based MINIEYE announced earlier this week the completion of the final tranche led by Cathay… Continue reading Chinese self-driving solutions developer MINIEYE raises $120m
More LPs reap good returns from APAC private portfolios: Coller Capital …
Limited partners (LPs) are increasingly generating good returns from their Asia Pacific (APAC) investments, according to the Global Private Equity Barometer 2022 survey by UK-based secondary specialist Coller Capital. Over 50% of LPs have achieved more than 16% net returns from their APAC venture investments, and nearly 40% of LPs have garnered the same from… Continue reading More LPs reap good returns from APAC private portfolios: Coller Capital …