Private equity major KKR & Co has announced the final close of its inaugural KKR Asia Credit Opportunities Fund (ACOF) at $1.1 billion, making it one of the largest inaugural pan-Asia credit funds to date. The fund, which focuses on performing privately originated credit investments in Asia Pacific, is KKR’s continued buildout in the region.… Continue reading PE firm KKR raises $1.1b for inaugural Asia credit fund
Author: Deal Street Asia Online News
Indonesian startups downsize to cut costs amid global headwinds …
Several Indonesian technology companies are reportedly laying off staff to rein in costs amid unfavourable global economic conditions. DealStreetAsia has confirmed that at least four tech companies, including LinkAja and Zenius, have decided to let go of a significant number of employees due to various reasons, mainly as cost-cutting measures and changes in corporate strategy.… Continue reading Indonesian startups downsize to cut costs amid global headwinds …
Shipper receives commitments for $65m, said to be in market to raise $100m
Indonesian tech-enabled logistics services provider Shipper has received fresh commitments worth around $65 million in an ongoing fundraising round, as it attempts to raise a total of $100 million to fuel expansion, DealStreetAsia has learnt. The latest commitments have largely come from existing investors Sequoia Capital India, DST Global, Prosus Ventures, Lightspeed, Insignia Ventures, and… Continue reading Shipper receives commitments for $65m, said to be in market to raise $100m
French fund-of-funds Eurazeo said to be raising $2.68b across 2 vehicles
French fund-of-funds (FoF) Eurazeo is in the process of raising a total corpus of 2.5 billion euros ($2.68 billion) across two major funds as it looks to ramp up its investment in the Asia Pacific region, besides its home turf Europe. Of the total corpus, Eurazeo plans to allocate as much as 2 billion euros ($2.1… Continue reading French fund-of-funds Eurazeo said to be raising $2.68b across 2 vehicles
Bitcoin loses a third of its value in just two months
The crypto winter is into its ninth week and bitcoin can’t shake the chills. From technicals to turnover, market indicators are flashing red or amber for the biggest cryptocurrency, which has lost a third of its value in just two months. So what now? Bitcoin‘s limited history isn’t much of a guide on crypto winters, which we’re defining as prolonged… Continue reading Bitcoin loses a third of its value in just two months
SoftBank-backed logistics startup Delhivery valued at $4.9b in India debut …
Shares of Delhivery, an Indian logistics startup backed by SoftBank Group, rose as much as 7.6% in their market debut on Tuesday, giving the company a valuation of 379.60 billion rupees ($4.89 billion). The Gurugram-based company’s services include parcel transportation, warehousing, cross-border and supply chain services to more than 23,000 customers, and counts popular e-commerce sites… Continue reading SoftBank-backed logistics startup Delhivery valued at $4.9b in India debut …
GIC to invest $283m for 7.5% stake in India’s Aditya Birla Fashion and Retail …
Aditya Birla Fashion and Retail Limited (ABFRL) Tuesday said that its board has approved raising of up to $283 million (Rs.2,195 crore) from an affiliate of GIC, Singapore’s sovereign wealth fund. ABFRL will raise the aforementioned amount by way issue of preferential issuance of equity and warrants, it said in a press statement. GIC will invest… Continue reading GIC to invest $283m for 7.5% stake in India’s Aditya Birla Fashion and Retail …
Switzerland’s ZoodPay enters Pakistan with acquisition of digital lender Tez
Karachi-based Tez Financial Services (Tez) has been fully acquired by ZoodPay, a Switzerland-based buy now pay later (BNPL) platform that has operations mainly in the Middle East and Central Asia. Tez’s valuation during the acquisition is confidential. Tez — backed by Planet N, Flourish Ventures (Omidyar Network), and Accion among others — was the first… Continue reading Switzerland’s ZoodPay enters Pakistan with acquisition of digital lender Tez
Chinese regulators vow to keep property sector credit growth stable
China‘s financial regulators pledged to keep credit growth stable in the property sector and help homebuyers affected by COVID-19 outbreaks to defer their mortgage payments, the central bank said in a statement on Tuesday. Yuan loan growth tumbled in April as the pandemic jolted the economy and weakened credit demand, official data showed earlier this month. Household loans, including mortgages, contracted by 217 billion yuan ($32.6 billion), pointing… Continue reading Chinese regulators vow to keep property sector credit growth stable
Samsung to invest $356b over five years to push up growth in strategic sectors
Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics said. South Korea’s top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive long-term growth in strategic areas such as the chip sector, while pledging aggressive investments in the biopharmaceutical sector to make it as successful as its chip… Continue reading Samsung to invest $356b over five years to push up growth in strategic sectors