Category: Tech News

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SG’s Affirma Capital invests $100m in Korean cloud services provider Metanet

Singapore-based private equity firm Affirma Capital announced that it has agreed to invest $100 million in South Korean cloud managed service provider Metanet Tplatform, which targets to go public in 2023. The deal marks Affirma’s third investment in South Korea through its 500-billion won ($435 million) fifth Korea fund, Ascenta V. It also marks the… Continue reading SG’s Affirma Capital invests $100m in Korean cloud services provider Metanet

China to set up state pension entity with 17 firms taking stakes

China plans to set up a state pension company with registered capital of 11.15 billion yuan ($1.72 billion), a filing showed on Thursday, the latest step by the world’s most populous nation to boost funds for its citizens’ retirement. China is wooing booth public and private sector involvement as it tweaks its $1.2-trillion pension system for a rapidly ageing population faced with the prospect of… Continue reading China to set up state pension entity with 17 firms taking stakes

Baidu raises $1b in ESG bond issue amid China tech sector woes

Chinese internet giant Baidu Inc has raised $1 billion in a two-tranche, U.S. dollar sustainability bond, its first environment, social and governance (ESG) transaction. A 5.5-year tranche bond raised $300 million and the 10-year tranche secured $700 million, a company statement said. The shorter dated bond was priced at US Treasuries plus 83 basis points, while the longer dated issuance was at US Treasuries… Continue reading Baidu raises $1b in ESG bond issue amid China tech sector woes

China Digest: SORL Auto raises $77m; MinoSpace nets nearly $46m

Automotive aftermarket trading platform New SORL Auto Parts has raked in 500 million yuan ($77 million) in a Series A round of financing led by Hengxu Capital. In a separate development, space technology company MinoSpace has garnered nearly 300 million yuan ($46 million) in its pre-Series B round.  SORL Auto raises $77m in Series A… Continue reading China Digest: SORL Auto raises $77m; MinoSpace nets nearly $46m

People Digest: Jupiter, theAsianparent make key hires; Binance scouts for CEO …

Jupiter Asset Management has appointed a new head of institutional, Asia Pacific, while crypto exchange Binance is looking for a new CEO. Meanwhile, Singapore-based theAsianparent has appointed a chief commercial officer. Jupiter Asset Management appoints head of institutional, APAC Jupiter Asset Management has announced the appointment of Adam Phua as Head of Institutional, Asia Pacific,… Continue reading People Digest: Jupiter, theAsianparent make key hires; Binance scouts for CEO …

India’s SATYA MicroCapital raises $18m from responsAbility, BlueOrchard Finance

Delhi-headquartered microfinance startup SATYA MicroCapital has raised about $18 million (Rs 135 crore) through non-convertible debentures (NCDs) from impact investment fund manager responsAbility Investments and Swiss impact investor, BlueOrchard Finance Limited. About Rs 55 crore funds managed by Blue Orchard was disbursed in June and July 2021, and the remaining Rs 80 crore was made… Continue reading India’s SATYA MicroCapital raises $18m from responsAbility, BlueOrchard Finance

India: PhonePe closes $700m round after fresh infusion from Walmart, Tencent

Digital payments company PhonePe has raised $350 million from new and existing investors as part of the $700 million round that it announced in December last year. According to the company’s latest regulatory filings, American retail giant Walmart has led the financing by pumping in $281.5 million in the round while new investor China’s Tencent… Continue reading India: PhonePe closes $700m round after fresh infusion from Walmart, Tencent

Chinese Internet firms must curb online rumours, guard ‘fields of responsibility’

Chinese internet platforms must crack down on the spread of online rumours and guard their “fields of responsibility”, state media outlet the People’s Daily wrote in a commentary published Thursday. The comments come amid an ongoing regulatory tightening on technology companies. The piece’s author, Zhang Tianpei, argued that curbing online rumours was especially important in the current period of preventing the spread of the coronavirus pandemic. As the coronavirus… Continue reading Chinese Internet firms must curb online rumours, guard ‘fields of responsibility’

Crypto exchange Binance ropes in former US Treasury criminal investigator

Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm. Governments and financial watchdogs are paying closer attention to the cryptocurrency industry, often putting in place rules that pose a challenge… Continue reading Crypto exchange Binance ropes in former US Treasury criminal investigator