Omnichannel beauty company SUGAR Cosmetics said it closed its $50 million Series D fundraise led by the Asia fund of consumer-focussed private equity firm L Catterton, at a time when Indian consumers are spending more on beauty and personal care products. SUGAR, which is popular amongst Gen Z and Millennial consumers who are increasingly making… Continue reading Indian Shark Tank judge’s cosmetic brand SUGAR valued at $500m after raising fresh funding
Author: Deal Street Asia Online News
Navis Capital Partner backs Australian software consolidator Software Combined
Malaysia-headquartered private equity firm Navis Capital Partners has invested in Australian vertical market software consolidator Software Combined for an undisclosed amount, according to an announcement. Software Combined sources and acquires niche and B2B industry-specific software companies in Australia and New Zealand, providing the business owners with access to capital or liquidity options. The company scans… Continue reading Navis Capital Partner backs Australian software consolidator Software Combined
Asian insurer FWD delays $1b Hong Kong IPO amid volatile market
Asian insurer FWD Group has delayed its $1 billion Hong Kong initial public offering (IPO) because of volatile financial markets, according to three sources with direct knowledge of the matter. FWD declined to comment. The sources could not be named as the information was not yet made public. FWD has a business presence in 10… Continue reading Asian insurer FWD delays $1b Hong Kong IPO amid volatile market
From baristas to inspectors, Singapore’s robot workforce plugs labour gaps
After struggling to find staff during the pandemic, businesses in Singapore have increasingly turned to deploy robots to help carry out a range of tasks, from surveying construction sites to scanning library bookshelves. The city-state relies on foreign workers, but their number fell by 235,700 between December 2019 and September 2021, according to the manpower… Continue reading From baristas to inspectors, Singapore’s robot workforce plugs labour gaps
Chinese conglomerate Fosun plans sale of $527m Tsingtao Brewery stake
Chinese conglomerate Fosun International Ltd said on Tuesday it has agreed to sell all of its 4.89% stake in Tsingtao Brewery Co Ltd through a share placement, raising HK$4.14 billion ($527.47 million) for general working capital. Fosun’s subsidiaries Fosun Industrial, Fidelidade Companhia de Seguros S.A., and a unit of China Momentum Fund L.P., which is… Continue reading Chinese conglomerate Fosun plans sale of $527m Tsingtao Brewery stake
New PE firm Hildrics Capital seeks up to $183m, sees recovery opportunities in SE Asia …
The partners at Singapore-based Hildrics Capital, who were former corporate bankers at UOB, have set their sights on the recovery play in Southeast Asia, as businesses seek comebacks from the last two years of COVID-driven doldrums. “Recovery is a big theme for us,” said Choo Kee Siong, the investment firm’s founder and CEO. Go to… Continue reading New PE firm Hildrics Capital seeks up to $183m, sees recovery opportunities in SE Asia …
Golden Gate Ventures opens Vietnam offices, founding partner relocates …
Singapore-headquartered venture capital firm Golden Gate Ventures has opened two new offices in Vietnam, and its founding partner Vinnie Lauria has moved to the country’s commercial hub, Ho Chi Minh City, to lead the team in Vietnam. With offices across Singapore, Indonesia and Vietnam, the VC firm sees these three markets as Southeast Asia’s ‘startup… Continue reading Golden Gate Ventures opens Vietnam offices, founding partner relocates …
Abu Dhabi petrochem firm Borouge draws $80b in demand for its IPO
Abu Dhabi-based petrochemicals company Borouge has attracted demand of $80 billion for its initial public offering, two sources told Reuters, as retail investors snapped up shares despite volatile global markets. The company, which is jointly owned by Abu Dhabi National Oil Company and Austria’s Borealis, has attracted orders of $63 billion from institutional investors, said the sources, declining to… Continue reading Abu Dhabi petrochem firm Borouge draws $80b in demand for its IPO
Thailand’s SCI Electric shelves $4m bitcoin mining plans …
The recent crash in bitcoin prices has thrown a spanner in the works of another would-be crypto miner in Thailand. SCI Electric Plc, which had approved an investment of 140 million baht ($4.1 million) in the bitcoin mining business through its subsidiary SCI Venture Company Ltd, has decided to postpone its plans for now. Mining… Continue reading Thailand’s SCI Electric shelves $4m bitcoin mining plans …
GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth
Indonesia-listed technology major PT GoTo Gojek Tokopedia (GoTo Group) has reported a wider loss in the first three months of 2022 despite a 53% growth in gross revenue compared with the corresponding period a year earlier, prompting the company to increase its focus on steps to boost margins and cost-cutting. Its losses in the January-March… Continue reading GoTo’s losses expand in Q1 2022 even as gross revenue sees 53% growth