As with many other industries, the tech sector has been feeling the squeeze of the global economic slowdown this year. Meta isn’t immune to that. Reports in May suggested that the company would slow down the rate of new hires this year. Now, Bloomberg reports that Meta has put all hiring on hold. CEO Mark Zuckerberg… Continue reading Meta reportedly suspends all hiring, warns staff of possible layoffs
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Elev8 to launch $200m India-focused growth-stage fundThe fund will invest in Series B and C rounds in startups based out of India
Elev8 Venture Partners, a venture capital firm backed by Venture Catalysts, has announced the launch of its $200-million India-focused fund to invest in growth-stage, technology-driven companies. In a statement, Elev8 said the sector-agnostic fund will invest in Series B and C rounds in startups based out of India with a ticket size of $5-15 million.… Continue reading Elev8 to launch $200m India-focused growth-stage fundThe fund will invest in Series B and C rounds in startups based out of India
Shares of Leapmotor and Onewo tumble in Hong Kong debutLeapmotor shares closed down 33.5%, while Onewo shares shed 6.8% on Thursday.
Hong Kong’s two largest completed IPOs of 2022, worth a combined $1.5 billion, closed deep in the red on their market debuts on Thursday, dampening prospects of a recovery in new share sales in the city for the rest of the year. Shares of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology ended at HK$31.90,… Continue reading Shares of Leapmotor and Onewo tumble in Hong Kong debutLeapmotor shares closed down 33.5%, while Onewo shares shed 6.8% on Thursday.
IPOs by US tech companies sink to lowest level since global financial crisisOnly 14 tech cos have listed in the US so far this year, compared with 12 …
Initial public offerings by US tech companies have sunk to their lowest levels since the global financial crisis of 2008, as stock market volatility, soaring inflation, and interest rate hikes have soured investor sentiment towards new listings. According to Refinitiv data, only 14 tech companies have floated their shares on stock exchanges so far this year, compared with 12 in 2009.… Continue reading IPOs by US tech companies sink to lowest level since global financial crisisOnly 14 tech cos have listed in the US so far this year, compared with 12 …
Taiwan Life commits $30m to Morgan Stanley’s fourth global infra fund
Insurer Taiwan Life, a part of CTBC Financial Holdings, has committed $30 million to the third global infrastructure fund of Morgan Stanley Infrastructure Partners (MSIP). In a filing to the Taiwan Stock Exchange, the insurer said its commitment will give it about 0.50% of North Haven Infrastructure Partners IV SCSp, the latest fund of Morgan… Continue reading Taiwan Life commits $30m to Morgan Stanley’s fourth global infra fund
SE Asia is the market of choice for PE firms as China fever ebbs, but challenges abound
(Left to right) Andrea Campagnoli (moderator), partner, Bain & Co; Bert Kwan, head of private equity, Silverhorn; Kerry Goh, founder, CEO and chief investment officer, Kamet Capital; Thomas Lanyi, head, Southeast Asia, CDH Investment Advisory; and Wei Jian Tor, managing director, EQT Private Equity. Go to Source
KKR’s tender offer for Hitachi Transport to be delayed beyond end-Sept
Japan’s Hitachi Transport System Ltd said on Thursday it had been informed by KKR & Co that the private equity firm’s tender offer for it would be delayed from the initially planned end-September start. In a statement, Hitachi Ltd’s logistics arm cited KKR as saying it would now aim for a mid-November start pending regulatory approval and other processes. KKR… Continue reading KKR’s tender offer for Hitachi Transport to be delayed beyond end-Sept
How China’s state-backed Silk Road Fund has raised its global profile
In mid-September, the ancient Silk Road city of Samarkand, Uzbekistan was thrust into the spotlight as leaders of member nations of the Shanghai Cooperation Organisation (SCO) convened for their annual summit. For visitors, one particular venue should have left an impression — the Silk Road Samarkand, a sprawling brand new complex that served as the conference venue… Continue reading How China’s state-backed Silk Road Fund has raised its global profile
Eufy’s impressive new smart cameras use AI to identify you and your pets
/ The Edge Security System leverages machine-learning for facial recognition, people, pet, and vehicle detection on its new 4K cameras. It also has free, local storage and is backward-compatible with most existing Eufy cameras. Image: Eufy Smart home company Eufy’s new wireless security camera, the EufyCam 3, bumps up the resolution to 4K and adds… Continue reading Eufy’s impressive new smart cameras use AI to identify you and your pets
ONE Championship expects profitability in 3 years even as losses balloon in 2021ACRA filings show that ONE’s annual losses for 2021 jumped 125% to $11…
ONE Championship continues to remain optimistic on its profitability targets even after the Asian mixed martial arts promoter more than doubled its annual losses in 2021. Recent filings to Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that ONE’s annual losses for 2021 jumped 125% to $111 million compared to the same period in 2020.… Continue reading ONE Championship expects profitability in 3 years even as losses balloon in 2021ACRA filings show that ONE’s annual losses for 2021 jumped 125% to $11…