The world’s wealthiest families put more money into private equity than in traditional asset classes like fixed income and stocks in 2021 as they sought to boost investment returns, an annual report by Swiss bank UBS UBSG.S shows. Private equity posted stellar returns last year as trillions of dollars in pandemic-related stimulus prompted a record surge in… Continue reading World’s richest families increased exposure to private equity in 2021: UBS report …
Author: Deal Street Asia Online News
Didi pursues EV stake as it emerges from regulatory shadows
China’s Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth. The deal, if completed, would accelerate Didi Global Inc’s strategic expansion in the world’s largest EV market and help cushion the impact of… Continue reading Didi pursues EV stake as it emerges from regulatory shadows
After lockdown, Shanghai tries to mend fences with foreign firms
Shanghai officials are seeking to revive confidence among multinational companies bruised and frustrated by the city’s COVID-19 lockdown by holding multiple meetings with foreign firms and easing a key border requirement for overseas workers. The image of China’s most cosmopolitan city and its biggest business hub was badly damaged by the two-month lockdown, with countless expatriates… Continue reading After lockdown, Shanghai tries to mend fences with foreign firms
US data security firm Immuta valued at $1b after latest funding led by NightDragon
Data security firm Immuta said on Wednesday it was valued at $1 billion after a $100 million late-stage funding round led by venture capital firm NightDragon. Cyber security companies, such as Immuta, Axonius and Securonix, have attracted investor interest recently due to strong demand for their services as businesses adopt a hybrid work model globally due to the… Continue reading US data security firm Immuta valued at $1b after latest funding led by NightDragon
Philippine tycoon to build world’s largest solar power facility
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
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 …