Growtheum Capital Partners, set up by former GIC managing director of private equity Amit Kunal, has secured capital commitments for over half its debut fund, DealStreetAsia has learnt. The private equity firm has raised at least $550 million for SEA Fund I, out of a target of $800 million, from a spate of institutional investors,… Continue reading Former GIC exec’s Growtheum Capital expected to close debut fund early next yearThe PE firm is said to have raised at least $550m for SEA Fund I, out …
Category: Tech News
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Indonesia’s Bank Amar banking on Investree’s ecosystem to return to profit
Indonesian lender Bank Amar is looking to swing back to profit next year on a 50% jump in disbursements, as it leverages Investree’s ecosystem to shore up its SME (small and medium enterprises) portfolio, a top executive told DealStreetAsia. In an exclusive interaction with DealStreetAsia, Bank Amar chief financial officer David Wirawan said its lending… Continue reading Indonesia’s Bank Amar banking on Investree’s ecosystem to return to profit
Indonesian furniture startup Dekoruma said to have raised fresh funding
Indonesian home decor platform Dekoruma is said to have completed a new financing round worth “tens of millions of dollars”, led by a fund owned by local conglomerate Djarum Group, according to a WeChat post by the venture capital firm Ondine Capital last week. Dekoruma’s existing investors, including Ondine Capital, OCBC, and Nexter Ventures, the… Continue reading Indonesian furniture startup Dekoruma said to have raised fresh funding
IFC launches $225m VC platform targeting startups in underserved regions
World Bank Group member International Finance Corporation (IFC) has launched a $225-million venture capital platform that will invest in early-stage startups in what it described as underserved regions. Specifically, IFC said the fund will invest in early-stage companies in Africa, the Middle-East, Central Asia, and Pakistan that address challenges in climate, healthcare, education, agriculture, e-commerce,… Continue reading IFC launches $225m VC platform targeting startups in underserved regions
PE giant Blackstone sets up first Asian data centre vehicle
Wall Street private equity giant Blackstone launched its first-ever data centre platform, Asia Lumina CloudInfra, on Tuesday. Owned and run by Blackstone’s Real Estate and Tactical Opportunities funds, the platform already has a couple of hyperscale data centres in India in its pipeline, according to an announcement on Tuesday. Lumina will look to expand its… Continue reading PE giant Blackstone sets up first Asian data centre vehicle
Uber, Lyft to pay NYC drivers more by end of year
Uber and Lyft will have to increase the minimum pay rates for drivers in New York City by the end of the year, Engadget reports. The fare increase comes amid a driver shortage post-pandemic, in large part due to rising operational costs. The city’s Taxi and Limousine Commission (TLC) voted to increase the per-minute rates… Continue reading Uber, Lyft to pay NYC drivers more by end of year
Tesla aims to produce 100 Tesla Semi electric trucks this year
Tesla is aiming to produce about 100 Tesla Semi electric trucks this year, which is a bit higher than what was anticipated. After five years of waiting, Tesla is now finally in early production with the Tesla Semi electric truck. Electrek exclusively reported that Tesla was building a production line for the Tesla Semi in a new… Continue reading Tesla aims to produce 100 Tesla Semi electric trucks this year
Tesla Gigafactory Texas construction workers sue for labor violations, claim unsafe conditions
Construction workers at Tesla Gigafactory Texas are suing for labor violations amid claims of unsafe conditions at the sprawling site. Gigafactory Texas is Tesla’s latest giant factory site under construction with several large buildings being built to support electric vehicle and battery production. Tesla has been employing thousands of construction workers at the site over… Continue reading Tesla Gigafactory Texas construction workers sue for labor violations, claim unsafe conditions
Elon Musk Is Mass-Firing Employees Who Dared Criticize Him in Slack
SpaceX and Tesla CEO Elon Musk calls himself a “free speech absolutist,” but he’s been systematically firing anyone who disagrees with him. Musk, now the boss at Twitter, is reportedly sacking anybody who has criticized him on the social giant’s Slack channels, Platformer‘s Casey Newton reports. “We regret to inform you that your employment is terminated… Continue reading Elon Musk Is Mass-Firing Employees Who Dared Criticize Him in Slack
Objects We Thought Were Black Holes May Actually Be Wormholes, Scientists Say
A team of physicists from Sofia University in Bulgaria say that wormholes, which are hypothetical tunnels linking one part of the universe to another, might be hiding in plain sight — in the form of black holes, New Scientist reports. Black holes have long puzzled scientists, gobbling up matter and never letting it escape. But… Continue reading Objects We Thought Were Black Holes May Actually Be Wormholes, Scientists Say