A special purpose acquisition company (SPAC) backed by the investing arm of Chinese investment bank ABC and Hony Partners Group has filed to list in Hong Kong. The blank cheque firm, called Everest Acquisition Corporation, will seek merger targets from sectors including healthcare, consumer, and green industries in Greater China, according to a filing to… Continue reading Investment bank ABCI, PE investor Hony Partners file to list HKEX’s next SPACEverest Acquisition is ABCI’s second foray into Hong Kong’s SPAC market.
Category: Tech News
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Singapore used-car marketplace Carro drives into Japan through SoftBank JV
Singapore-based used car marketplace Carro has expanded into the Japanese market through a partnership with tech conglomerate SoftBank Group Corp, according to an announcement. The partnership will see Carro Japan offering a full suite of services, including subscription-based services and car leasing. It will also involve multiple leasing companies, with plans to expand the marketplace… Continue reading Singapore used-car marketplace Carro drives into Japan through SoftBank JV
Gobi Partners raises $10m for Malaysia-focused early-stage fund
Pan-Asian venture capital firm Gobi Partners has announced the close of its latest early-stage, tech-focused venture fund at $10 million. The Malaysia-focused fund, Gobi SuperSeed II (Gobi SSII), received commitments from Allianz Malaysia, Malaysia Venture Capital Management (MAVCAP) and Sunway Group, according to the announcement. Gobi SSII Fund targets seed-to-Series A technology-enabled startups in Malaysia… Continue reading Gobi Partners raises $10m for Malaysia-focused early-stage fund
Morgan Stanley’s Southeast Asia M&A chief set to join Raine
US investment bank Raine Group has tapped Jonathan Pflug, Morgan Stanley’s head of Southeast Asia M&A, to lead its coverage in Southeast Asia, two sources familiar with the matter said on Monday. Morgan Stanley and Raine did not immediately reply to Reuters questions about the move. Singapore-based Pflug, a managing director at Morgan Stanley, has been with the investment bank since 2011. Pflug is set to join Raine early next year… Continue reading Morgan Stanley’s Southeast Asia M&A chief set to join Raine
Temasek said to be in talks to invest in Motilal Oswal PE-backed VVDN Technologies
Singapore-based investment firm Temasek Holdings, a backer of Indian unicorns including Open, ShareChat, upGrad, and Shiprocket, is in talks to invest in VVDN Technologies, a global provider of engineering, manufacturing, and digital services and solutions, DealStreetAsia has learnt. While the amount that Temasek is looking to inject into the Gurugram-headquartered company is not known, total… Continue reading Temasek said to be in talks to invest in Motilal Oswal PE-backed VVDN Technologies
EV market share in Southeast doubles as industry brings almost $33 billion to the region
If you see more electric vehicles across the southern United States, it’s not just you. According to the annual Transportation Electrification in the Southeast report, EV market share in the region doubled from last year with Tesla and Hyundai leading the way. And, perhaps more important, the industry’s growth is bringing new jobs to the region. The Southeast… Continue reading EV market share in Southeast doubles as industry brings almost $33 billion to the region
Tesla expands its Full Self-Driving Beta to 60,000 more owners
Tesla has decided to expand its Full Self-Driving (FSD) Beta program for the first time in a long time. After adding 60,000 additional owners, Tesla’s FSD Beta will have over 160,000 people in the program. The FSD Beta program enables Tesla vehicles to drive autonomously to a destination entered in the car’s navigation system, but… Continue reading Tesla expands its Full Self-Driving Beta to 60,000 more owners
Singapore-based Tower Capital Asia closes maiden PE fund at $379mThe capital raised exceeded the firm’s original target of $300 million.
Singapore-based, mid-market private equity firm Tower Capital Asia has closed its maiden blind-pool private equity fund at $379 million, surpassing the firm’s original target of $300 million. The vehicle, Tower Capital PE Fund I, comprises $324 million in primary commitments and $55 million in co-investment commitments, the firm said in a statement. Limited partners who… Continue reading Singapore-based Tower Capital Asia closes maiden PE fund at $379mThe capital raised exceeded the firm’s original target of $300 million.
Data Vantage: Partipost, Ralali, JobHopin and TWID report funding updates
Partipost, a Singapore-based crowd influencer marketing, and commerce platform, allotted preference shares worth more than $10 million last week. Recipients include iGlobe Partners, Pavilion Capital, zVentures, SPH Ventures and Quest Ventures. Earlier last year, the startup secured $5 million in an oversubscribed extended Series A round led by Quest Ventures. Partipost drives authentic word-of-mouth marketing… Continue reading Data Vantage: Partipost, Ralali, JobHopin and TWID report funding updates
Guy Who Invented the Word “Metaverse” Building His Own Metaverse
The science fiction icon who coined and popularized the term “metaverse” is pausing his literary career to build his own. As revealed by Wired, “Snow Crash” author and cyberpunk pioneer Neal Stephenson is working with a crypto bro to create an open metaverse platform that will, its creators hope, be a more decentralized version of… Continue reading Guy Who Invented the Word “Metaverse” Building His Own Metaverse