Author: Deal Street Asia Online News

Ant Group’s consumer finance unit to boost its capital to $4.7b

The consumer finance unit of China’s Ant Group will boost the company’s capital to 30 billion yuan ($4.71 billion) from 8 billion yuan, and introduce 4 new strategic investors, an exchange filing released on Friday said. The unit, Chongqing Ant Consumer Finance Co Ltd, is under regulatory pressure to fold Ant’s two lucrative micro-loan businesses Jiebei and Huabei into it, which would make it subject to rules and capital requirements similar to those for banks. China… Continue reading Ant Group’s consumer finance unit to boost its capital to $4.7b

Indonesia’s BRI Ventures launches second fund Sembrani Kiqani

BRI Ventures, the corporate venture arm of Indonesian state-owned PT Bank Rakyat Indonesia and its local fund partner Kiqani has launched a new fund to invest in the direct-to-consumer (D2C) sector with a total investment target of up to Rp 500 billion. The fund titled Sembrani Kiqani has already invested in Yield Guild Games Southeast… Continue reading Indonesia’s BRI Ventures launches second fund Sembrani Kiqani

CICC, Ascent Capital jointly to set up investment platform with $3b corpus

CICC Capital, the private equity (PE) fund management platform of Hong Kong-listed investment bank China International Capital Corporation (CICC), has tied up with Korea’s cross-border investment firm Ascent Capital to set up a private equity investment platform with a total corpus of $3 billion.  CICC Ascent is set to seek opportunities across technology and consumption… Continue reading CICC, Ascent Capital jointly to set up investment platform with $3b corpus

CapitaLand’s REIT to buy 50% in Sydney property for $305m

Singapore-listed real estate investment trust CapitaLand Integrated Commercial Trust (CICT) has agreed to acquire a 50% interest in an integrated development located in Sydney for A$422 million ($305.4 million), per an announcement. It added that the total acquisition outlay was A$454.4 million, comprising A$422 million purchase price, other expenses of A$28.2 million, and acquisition fees… Continue reading CapitaLand’s REIT to buy 50% in Sydney property for $305m

People Digest: Monir Azzouzi joins GoToko to lead HR; Hypefast ropes in Indonesia’s former minister

Monir Azzouzi joins GoToko, GoTo Group’s B2B e-commerce platform arm, as part of the efforts to reinforce the group’s presence among small merchants across the country. Meanwhile, Indonesia’s former trade minister and a popular Youtube talkshow host Gita Wirjawan joined Hypefast as President Commissioner. Monir Azzouzi joins GoToko Monir Azzouzi joins GoToko, a joint venture… Continue reading People Digest: Monir Azzouzi joins GoToko to lead HR; Hypefast ropes in Indonesia’s former minister

Xiaomi, SIG back Lanwan and 11 more deal updates from Greater China worth over $400m

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Xiaomi, SIG back Lanwan and 11 more deal updates from Greater China worth over $400m

India: TPG-backed SK Finance raises $53m from IIFL Wealth, others …

Jaipur based non-banking financial company SK Finance, formerly Ess Kay Fincorp, has raised about $53 million (Rs 400 crore) in its Series F funding round IIFL Wealth and other new investors, it announced on Thursday. With the latest capital raise, the company to date has cumulatively raised about Rs 1,400 crores from six investors, including… Continue reading India: TPG-backed SK Finance raises $53m from IIFL Wealth, others …

Chinese semiconductor memory firm DERA nets nearly $157m in Series C round …

Chinese semiconductor memory firm DERA has secured nearly 1 billion yuan ($157 million) in a Series C round of financing, the firm announced on Thursday. The Series C round was led by state investor China Reform Fund and CICC Capital, a private equity (PE) fund management platform of investment bank China International Capital Corp (CICC).… Continue reading Chinese semiconductor memory firm DERA nets nearly $157m in Series C round …

Asia Digest: NZ Super Fund to back fertility biz; Brookfield to buy Intellihub stake

NZ Super Fund joined a consortium with Pioneer Capital and Comprador Holdings to buy a majority stake in fertility treatment provider Fertility Associates. Meanwhile, Pacific Equity Partners has reduced its holding on Australian smart meters business Intellihub, following a sale on its community energy services business WINconnect. NZ Super Fund joins consortium to back fertility… Continue reading Asia Digest: NZ Super Fund to back fertility biz; Brookfield to buy Intellihub stake