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
Author: Deal Street Asia Online News
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 …
Indian startup funding drops further to $2.2b in May amid slowdown fears …
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 …
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