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 …
Author: Deal Street Asia Online News
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 …
Greater China: NuProbe raises $50m and 18 more deals worth $377m
Chinese genomics and molecular diagnostics firm NuProbe has secured $50 million in a Series B round of financing to move forward with its product and team expansion plans in China and the US. The Series B round was led by its existing shareholder Panlin Capital and a $1-billion joint fund between British-Swedish pharmaceutical giant AstraZeneca… Continue reading Greater China: NuProbe raises $50m and 18 more deals worth $377m
Cathay Capital hits $240m first close of Growth RMB Fund II, targets $448m …
Global investment firm Cathay Capital has secured the first close of its second RMB-denominated growth fund at over 1.6 billion yuan (almost $240 million), while it targets 3 billion yuan ($447.6 million) for the final closing, the firm announced on Thursday. Cathay Growth RMB Fund II is backed by cornerstone investors Valeo, a publicly-listed automotive… Continue reading Cathay Capital hits $240m first close of Growth RMB Fund II, targets $448m …
SG crypto finance startup Cloudwall Capital nets $6.3m and other SE Asia deals
Cloudwall Capital, a Singapore-based crypto-focused digital asset risk management startup, has announced raising $6.3 million in a seed funding round co-anchored by UK-based venture capital investors LocalGlobe and Illuminate Financial. Launched in 2021, Cloudwall Capital seeks to bridge the traditional finance world with digital assets and decentralised finance. Its product, Serenity, is building risk management… Continue reading SG crypto finance startup Cloudwall Capital nets $6.3m and other SE Asia deals
Data Vantage: Tiger Global backs KitaLulus and HitPay, and other updates
Indonesia-based jobs platform KitaLulus has secured $8.15 million in a Series A funding round led by Tiger Global Management, according to regulatory filings. The round was joined by Rocketship.vc, Go-Ventures, Indogen Capital, FEBE Ventures and Goodwater Capital. Several angel investors also participated in the round, including former GoPay CEO Aldi Haryopratomo, Pluang CEO Claudia Kolonas,… Continue reading Data Vantage: Tiger Global backs KitaLulus and HitPay, and other updates
Antler-backed Josudo to merge with Singapore’s M42 Esports …
Josudo, a Singapore-based online platform that connects amateur e-sports players with professional coaches, is merging with the global e-sports organisation Meliora 42 Esports (M42), DealStreetAsia has learnt. Though Josudo, backed by the early-stage VC firm Antler and Battery Digital Holdings, has been partnering M42 Esports for a few months, a financial deal is being finalised… Continue reading Antler-backed Josudo to merge with Singapore’s M42 Esports …
Djarum-backed Blibli plans to raise over $500m in imminent Indonesia IPO
Indonesian e-commerce player Blibli is understood to have finalised its plan for a potential listing on the domestic market in the coming weeks, according to three sources aware of the development. Backed by Indonesian conglomerate Djarum Group, Blibli is planning to raise around $500 million in its initial public offering on the Indonesia Stock Exchange… Continue reading Djarum-backed Blibli plans to raise over $500m in imminent Indonesia IPO