As Southeast Asia’s largest economy, Indonesia has seen the birth of more than 10 unicorns over the past decade. It is home to some of the biggest tech startups such as GoTo, Bukalapak and Traveloka. Founded between 2009 and 2012, these companies have produced dozens of so-called “tech mafia,” a term used for former executives… Continue reading In Indonesia, crisis gives birth to a new bunch of tech mafia …
Author: Deal Street Asia Online News
Philippine meat supplier North Star defers IPO on inflation, market concerns
Philippine firm North Star Meat Merchants Inc is deferring up to 4.5 billion pesos ($85 million) initial public offering because of increased market volatility and concerns about inflation, the firm said on Tuesday. The decision is the latest among a series of uncertainty-driven listing postponements in Asia, as financial markets reel from elevated inflation and… Continue reading Philippine meat supplier North Star defers IPO on inflation, market concerns
Indonesian content network USS raises funds from SALT Ventures, others
Jakarta-based content network company USS Networks has raised an undisclosed pre-Series A round of funding led by Indonesian early-stage venture capital firm SALT Ventures, a senior executive told DealStreetAsia. The funding comes amid growing interest in digital media and intellectual property space. Go to Source
SE Asian PE major Northstar seeks over $100m for first VC fund
Southeast Asian private equity major Northstar Group, which has backed the likes of GoTo, Tiki and Bank Jago, is seeking to raise over $100 million for a new vehicle targeting smaller ticket-sized deals, DealStreetAsia has learnt. The fund, which is most likely to be called Northstar Ventures, will invest between $1 million and $10 million… Continue reading SE Asian PE major Northstar seeks over $100m for first VC fund
HK-based Insilico closes $60m & 33 more deal updates from Greater China worth $1.6b …
Hong Kong-based artificial intelligence (AI) drug discovery firm Insilico Medicine has raised $60 million in a Series D round of financing, less than one year after the completion of its previous Warburg Pincus-led investment at $255 million. Insilico raised the fresh capital from a mix of new investors, including an unspecified asset management firm on… Continue reading HK-based Insilico closes $60m & 33 more deal updates from Greater China worth $1.6b …
Gojek CEO Kevin Aluwi to step back from his role, to join GoTo board of commissioners …
In a major management change, Gojek co-founder and CEO and GoTo director Kevin Aluwi is stepping down from his executive position to join GoTo’s board of commissioners. GoTo Group chief executive officer Andre Soelistyo will take over Aluwi’s responsibilities once the shareholders approve the changes at the company’s annual general meeting on June 28, per… Continue reading Gojek CEO Kevin Aluwi to step back from his role, to join GoTo board of commissioners …
How crypto firm Binance became a hub for hackers, fraudsters, drug traffickers
In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole virtual currency worth some $5.4 million. It was one of a string of cyber heists by Lazarus that Washington said were aimed at funding North Korea’s nuclear weapons programme. Several hours later, the hackers opened at least two dozen anonymous accounts… Continue reading How crypto firm Binance became a hub for hackers, fraudsters, drug traffickers
Indonesia, Islamic Development Bank sign $150m loan for toll road project
Indonesia and the Islamic Development Bank have signed a $150 million loan to finance a toll road project on Java island, the Indonesian finance ministry said in a statement on Monday. The highway, which will be built from central Yogyakarta province to the eastern city of Malang, will cost an estimated total of $450 million. The ministry said it has also obtained funding separately from the Asian Development Bank for… Continue reading Indonesia, Islamic Development Bank sign $150m loan for toll road project
China Three Gorges acquires Spanish solar capacity for $214.52m
China‘s state-owned China Three Gorges has agreed to buy a portfolio of photovoltaic power assets in Spain worth about 200 million euros ($214.52 million), Spanish newspaper Expansion reported on Monday, citing unidentified market sources. The Chinese utility has agreed to buy photovoltaic projects from Nexwell Group, a fund with renewable power assets around the world, with capacity of 619 megawatts (MW), the newspaper… Continue reading China Three Gorges acquires Spanish solar capacity for $214.52m
Japan’s Toshiba directors exchange criticism over public statements
External directors at Toshiba Corp exchanged criticism on Monday over statements on board decisions, signalling a public rift as the embattled conglomerate reviews strategic options including going private. In an annual business report released on Monday, Toshiba external directors Mariko Watahiki and Katsunori Hashimoto, both members of Toshiba‘s three-member audit committee, were quoted as saying that external director Raymond Zage raised concern about Toshiba‘s governance by breaking ranks with the board’s official stance… Continue reading Japan’s Toshiba directors exchange criticism over public statements