As funding activities slow down amid a so-called crypto winter, digital asset startups must use up the valuable time to build their products, according to a panel of crypto-focused venture capitalists. “The markets are not hot right now, so startups have got time to build,” said Crypto.com’s partner Jon Russell, who pointed out that the… Continue reading This the time to build for the future, VCs tell crypto startupsBlockchain firms must build good teams, products, and MVPs to attract investors, say VC…
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US crypto broker Genesis says it is working to avoid filing for bankruptcy
US cryptocurrency brokerage Genesis said it is seeking to avoid bankruptcy after Bloomberg news reported on Tuesday that creditors to the firm are in discussions with restructuring lawyers to prevent insolvency. Citing people with knowledge of the situation, the report said law firms Proskauer Rose and Kirkland & Ellis are being consulted by creditor groups, who are… Continue reading US crypto broker Genesis says it is working to avoid filing for bankruptcy
India’s Tata Group reportedly in talks to buy Apple vendor Wistron’s India facility
Tata Group is in talks to buy Wistron Corp’s only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with… Continue reading India’s Tata Group reportedly in talks to buy Apple vendor Wistron’s India facility
Singapore’s Temasek holds internal review of $275m FTX-related loss
Singapore’s Deputy Prime Minister Lawrence Wong said on Wednesday that Temasek Holdings has initiated an internal review of its investment in the now-bankrupt FTX crypto exchange, which resulted in a write-down of $275 million. Wong, who is also finance minister, said the loss did not mean state investor Temasek’s governance system was not working and… Continue reading Singapore’s Temasek holds internal review of $275m FTX-related loss
Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Chinese property developer Shimao Group Holdings Ltd plans a private placement of shares, becoming the second player in the cash-squeezed sector to tap equity fundraising options just a day after Beijing lifted a ban on such deals. Shares of Shimao, a mid-sized developer, surged in Shanghai by their daily upward limit, or 9.9%, on Wednesday… Continue reading Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Two electric Corvettes with different styles are racing to market in 2025
The moment we’ve all been waiting for is almost here. However, instead of just one electric Corvette, you will have two entirely different styles to choose from starting in 2025. General Motors is diving head first into electric vehicles, promising to offer an “EV for everyone” with SUVs, luxury, crossovers, and pickup trucks. But what… Continue reading Two electric Corvettes with different styles are racing to market in 2025
Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.
Southeast Asia’s technology-focused private equity firm Asia Partners is said to be seeking $600 million for its second fund, Mergermarket reported. The firm has reportedly hit the first close of the vehicle at around $350 million. DealStreetAsia has reached out to Asia Partners for comment. The firm filed to raise Asia Partners II in April,… Continue reading Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.
DEG to extend $14m loan to China’s microfinance company Simple Credit
DEG, the investment arm of German state-owned development bank KFW, has committed to extend a loan of CNH 100 million ($14 million) to China’s microfinance company Simple Credit Micro-Lending Co., Ltd. (Simple Credit), according to a disclosure. Established in 2015 in Chongqing, Simple Credit is a microfinance company holding a nationwide internet lending licence in… Continue reading DEG to extend $14m loan to China’s microfinance company Simple Credit
India’s Gland Pharma to buy France’s Cenexi for $124m
Indian generic injectables maker Gland Pharma Ltd said on Tuesday it will buy privately held French pharmaceutical firm Cenexi for 120 million euros ($124.3 million) as it looks to expand its presence in European markets. Carved out from Roche Holding in 2004, Cenexi is a contract development and manufacturing company that makes sterile and injectable… Continue reading India’s Gland Pharma to buy France’s Cenexi for $124m
Cleantechnica: Tesla Model 3 Highland Project Aims To Reduce Complexity & Boost Profitability 002413
Reuters reports that four unnamed Tesla insiders claim the company has been working behind the scenes to improve the Model 3 by simplifying the production process. The changes will reduce the cost of manufacturing the cars, which could lead to lower prices for consumers and/or higher profit margins for the company. The Model 3 refresh… Continue reading Cleantechnica: Tesla Model 3 Highland Project Aims To Reduce Complexity & Boost Profitability 002413