Author: Deal Street Asia Online News

Temasek-backed Leapfrog raising $1b fund, IFC may come in as LP

Global impact fund manager LeapFrog Investments, which received a commitment of $500 million from Temasek last year, is raising a $1-billion growth-stage fund that will invest in healthcare and financial services businesses in Africa, South Asia, and Southeast Asia. International Finance Corporation (IFC), a member of the World Bank Group, has proposed to invest up… Continue reading Temasek-backed Leapfrog raising $1b fund, IFC may come in as LP

India: Paytm, Zomato feel the heat with wider quarterly losses …

Two of India’s hottest startups, fintech firm Paytm and food delivery provider Zomato, have reported wider losses in their quarterly earnings. One 97 Communications Ltd, the parent company of Paytm, reported a higher fourth-quarter loss on Friday due to higher payment processing, marketing and employee costs. However, its shares jumped 8% as CFO Madhur Deora… Continue reading India: Paytm, Zomato feel the heat with wider quarterly losses …

Ex-Twitter India head’s Invact Metaversity explores shutting ops after disagreements with co-founder

Just three months after raising funds, Invact Metaversity, referred to as a “metaverse” university, is exploring options that include cutting the burn rate, pivoting to another idea, letting one of the founders take full charge, or returning the excess capital to investors, as its founders stand at crossroads regarding their vision for the edtech company.… Continue reading Ex-Twitter India head’s Invact Metaversity explores shutting ops after disagreements with co-founder

Abu Dhabi’s Borouge secures cornerstone investors including India’s Adani family

Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it secured seven cornerstone investors, including India’s wealthy Adani family for its $2 billion initial public offering (IPO). The Abu Dhabi National Oil Company and Borealis’ joint venture set the offer price for its IPO at 2.45 dirhams ($0.67) a share, which implies an equity value of $20 billion, it… Continue reading Abu Dhabi’s Borouge secures cornerstone investors including India’s Adani family

Majority shareholders vote for delisting of Chinese ride-hailer Didi from NYSE

Chinese ride-hailing giant Didi Global will delist from the New York Stock Exchange, after a majority of the company’s shareholders voted in favor of the plan, putting to rest a year-long clash with Beijing over its U.S. stock market listing. In an extraordinary general meeting (EGM) held on Monday, 96.26% of shareholders who were present… Continue reading Majority shareholders vote for delisting of Chinese ride-hailer Didi from NYSE

Mirae Asset invests $15m as Singapore’s NextBillion.ai raises $21m in Series B …

Singapore-based NextBillion.ai on Monday announced it has raised $21 million in a Series B funding round led by global investment firm Mirae Asset Capital. The financing was joined by Lightspeed India, Microsoft’s venture fund M12, and Alpha Wave Global. The Series B comprises $18.75 million in equity funding, show NextBillion.ai’s filings with Singapore’s Accounting and… Continue reading Mirae Asset invests $15m as Singapore’s NextBillion.ai raises $21m in Series B …

China’s Jinke Smart Services halts trading ahead of M&A announcement

Chinese property management firm Jinke Smart Services Group Co said on Monday its Hong Kong-listed shares were halted from trading pending an announcement related to mergers and acquisitions. The trading halt followed reports last week that parent company Jinke Property Group – China’s 21st largest developer by sales – might not be able to refinance… Continue reading China’s Jinke Smart Services halts trading ahead of M&A announcement

Metaverse app BUD raises $37m in second funding round in just 3 months …

BUD, a virtual platform that allows users to create and share 3D interactive content with friends, has raised $36.8 million in its second funding round in three months, led by Sequoia Capital India. It had raised a $15-million Series A round in February, and with the latest new infusion, BUD’s total financing has reached over… Continue reading Metaverse app BUD raises $37m in second funding round in just 3 months …

Philippine tech retailer Upson International files for up to $103m IPO

Upson International Corp (UIC), the largest retailer of personal computers and information technology products in the Philippines, said on Monday it has filed for an IPO of up to 5.4 billion pesos ($103.81 million). UIC plans to offer up to 986.8 million shares, including an over-allotment option of up to 98.7 million shares, at a maximum price of 5.50 pesos ($0.11) each. In Philippine filings, prices of initial public offerings (IPOs) are typically set above… Continue reading Philippine tech retailer Upson International files for up to $103m IPO