Author: Deal Street Asia Online News

Asia Digest: Korean chipmaker Rebellions nets $50m, FTX launches in Japan

South Korean AI semiconductor startup Rebellions has raised $50 million; while cryptocurrency exchange FTX has launched its services in Japan. Temasek-backed Pavilion invests in S Korea’s Rebellions Rebellions, an artificial intelligence (AI) semiconductor startup, has announced raising $50 million in a Series A round backed by Pavilion Capital, a Temasek-backed venture capital investor. The Series… Continue reading Asia Digest: Korean chipmaker Rebellions nets $50m, FTX launches in Japan

Japan’s Toshiba receives eight proposals to go private

Toshiba Corp, the troubled Japanese conglomerate exploring strategic options, said it has received eight initial proposals to take it private as well as two proposals for capital alliances that would see it remain listed. The news comes amid recent signs that Toshiba, which has long been at loggerheads with its large activist shareholder base, is growing more… Continue reading Japan’s Toshiba receives eight proposals to go private

Investors sound a note of caution amid Indonesia’s quick commerce gold rush

Quick commerce startups in Indonesia have been on a fundraising blitzkrieg even as the overall tech sector is reeling under severe fund crunch amid geopolitical tensions and rising inflation. The industry has attracted funding worth over $100 million in the past six months as startups such as Astro, Dropezy, Bananas and Radius, among others, jostle… Continue reading Investors sound a note of caution amid Indonesia’s quick commerce gold rush

IFC, HSBC propose $600m investment to boost trade finance in emerging markets

International Finance Corporation (IFC), a member of the World Bank Group, and HSBC Bank have proposed to jointly invest $600 million to boost trade finance in emerging markets during crisis, according to a disclosure. The proposed investment is a 50-50 risk-sharing facility in a portfolio of trade-berated assets. The portfolio will be consisting of emerging… Continue reading IFC, HSBC propose $600m investment to boost trade finance in emerging markets

Indonesia’s Amartha targets jump in loans to microbusinesses

Peer-to-peer lender Amartha aims to double the amount of loans it channels to women running microbusinesses in rural Indonesia to about 13 trillion rupiah ($894 million) by 2025, the startup’s founder told Nikkei Asia in a recent interview. Amartha runs an online marketplace that channels capital from urban investors to female microentrepreneurs in the form… Continue reading Indonesia’s Amartha targets jump in loans to microbusinesses

China’s Ant rejigs board, names HK bourse head as independent director …

Ant Group, the Chinese fintech giant controlled by billionaire Jack Ma, has appointed Hong Kong Exchanges and Clearing chairman Laura Cha as an independent director in a recent board reshuffle, according to the company’s website. Ant also added Yang Xiaolei, an independent director of Hengfeng Bank, as a director. The website did not state when the appointments were made. Recent departures from its board include former chief executive Simon Hu, Primavera Capital… Continue reading China’s Ant rejigs board, names HK bourse head as independent director …

AXA registers private fund unit in Shanghai as China pushes for business revival

AXA Investment Managers has completed registration for a private fund unit in Shanghai, as Chinese regulators streamline processes to help foreign and local asset managers revive businesses amid Covid-19 outbreaks. Other filings with the Asset Management Association of China (AMAC) also show that Shanghai subsidiaries of global asset managers, including Neuberger Berman, Abrdn Plc, Winton and Barings, finished fundraising for their local fund products during the city’s two-month… Continue reading AXA registers private fund unit in Shanghai as China pushes for business revival

Amazon to pull Kindle e-readers out of China, other businesses to remain

Amazon.com said it will stop supplying retailers in China with its Kindle e-readers from Thursday and will shut its Kindle e-bookstore there next year, in the latest pullback by a US tech firm from the restrictive Chinese market. Amazon announced the decision on its official WeChat account on Thursday, saying it was adjusting the strategic focus of its operations and that its other business lines… Continue reading Amazon to pull Kindle e-readers out of China, other businesses to remain

KB Investments, Kalaari co-lead $13m funding in Eloelo and other India deals …

Live video-streaming platform Eloelo on Thursday announced that it has raised $13 million as a part of its Series A funding round co-led by KB Investments, Kalaari Capital along with existing investors Waterbridge Ventures and Lumikai Fund. Convivialité Ventures and Rocket Capital also participated in the round. This is the startup’s second successive round in… Continue reading KB Investments, Kalaari co-lead $13m funding in Eloelo and other India deals …