Indian startup funding fell for the second month in a row this year, touching $2.2 billion across 127 venture capital and private equity transactions in May, hinting at an overall subdued investor sentiment amid the economic slowdown. This marks a drop of almost 25% in value over April when startups had collectively racked up $2.93… Continue reading Indian startup funding drops further to $2.2b in May amid slowdown fears …
Author: Deal Street Asia Online News
Why newly listed Chinese stocks fall below their IPO prices
Investing in Chinese IPOs was once hailed as the safest of safe bets, with guaranteed huge returns to investors. The rationale was that the stock of a newly listed company would almost certainly rise well above its offer price, a pattern that had held true in most cases for many years. But this formula has… Continue reading Why newly listed Chinese stocks fall below their IPO prices
Softbank Ventures-backed Propzy lays off over 50% amid business restructuring
Softbank Ventures Asia-backed proptech startup Propzy has laid off over 50% of its staff as the company scales down due to the pandemic and prepares to shift its business model, sources familiar with the matter told DealStreetAsia. The layoffs are understood to have taken place in September last year. Go to Source
Texas Teachers commits $450m to funds managed by TPG, Greystar Asia in May
The Teacher Retirement System of Texas (TRS), the largest public pension fund in the state of Texas, has committed a total of $450 million to funds managed by real estate investor Greystar Asia and global buyout firm TPG Capital. The pension fund’s filing showed that it committed $150 million to Greystar Equity Partners Asia Pacific… Continue reading Texas Teachers commits $450m to funds managed by TPG, Greystar Asia in May
Musk threatens to walk out of Twitter deal over ‘material breach’ …
Elon Musk warned Twitter Inc on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks. This was not the first time Musk had suggested publicly his acquisition of Twitter may not happen. But the warning, delivered in a letter from Musk‘s lawyers to Twitter‘s… Continue reading Musk threatens to walk out of Twitter deal over ‘material breach’ …
Japan’s Mizuho Bank to shore up startup financing, says CEO Kato
Mizuho Financial Group’s main banking unit plans to boost financing for startup firms, its chief executive said, aiming at addressing Japan’s scarcity of valuable new companies. “We view our business with startups as crucial, because we want to drive changes in Japan,” Masahiko Kato, the new chief executive of Mizuho Bank, told Reuters in an interview. Japan has fewer than a dozen unicorns – startups with a… Continue reading Japan’s Mizuho Bank to shore up startup financing, says CEO Kato
Gold loan lender Rupeek latest Indian startup to cut jobs amid slowdown
The decline in startup funding is impacting a range of sectors, with employees being laid off in companies including Unacademy, Vedantu, Eruditus, Cars24, MFine and Lido, among others. Rupeek, a digital-focused gold loan lender, is the latest. The fintech startup backed by Sequoia and Accel on Tuesday said it has laid off 10-15% of its… Continue reading Gold loan lender Rupeek latest Indian startup to cut jobs amid slowdown
People Digest: Credit Suisse, M&G Investments, Capital Group announce key hires
Credit Suisse has named Min Huang to lead its asset management business in the Asia-Pacific while M&G Investments (M&G) has appointed Guan Yi Low as head of fixed income in the Asia-Pacific. Capital Group has appointed Suyin Tan as managing director, financial intermediaries, for Singapore and Southeast Asia. Huang named Credit Suisse asset management lead… Continue reading People Digest: Credit Suisse, M&G Investments, Capital Group announce key hires
Early signs of a thaw in crypto winter as overall flows turn positive …
As the crypto winter creeps into June, the first signs of a thaw are emerging. Some investors are now betting that bitcoin is bottoming out, judging by the money heading into listed cryptocurrency funds, which represent just a slice of the market yet are popular among institutional and retail players alike. Overall flows into such funds turned positive last… Continue reading Early signs of a thaw in crypto winter as overall flows turn positive …
Yankuang Energy offers to buy rest of Yancoal Australia as $1.8b offer fails
China’s Yankuang Energy said on Tuesday that it was open to negotiations to buy the remaining shares in its majority-owned unit Yancoal Australia, after the Australian coal firm rejected a $1.8-billion offer. Yankuang, which owns 62.26% of Yancoal‘s shares, said last month that it was considering offering Yancoal shareholders $3.60 per share in convertible bonds for the remaining 498.2 million shares not held by the company,… Continue reading Yankuang Energy offers to buy rest of Yancoal Australia as $1.8b offer fails