Category: Tech News

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China Digest: HK’s DayDayCook agrees to SPAC merger; Primavera sets up US office

Hong Kong’s DayDayCook will merge with a blank-cheque firm to go public in the US, while Primavera Capital Group has officially established its US office. HK-based DayDayCook heads to Nasdaq via SPAC DayDayCook, a Hong Kong-based online cooking community platform backed by Alibaba, has agreed to merge with a special purpose acquisition company (SPAC) to go… Continue reading China Digest: HK’s DayDayCook agrees to SPAC merger; Primavera sets up US office

China’s Maison Capital closes fifth RMB-denominated fund at $231m

Maison Capital, an investment firm that has backed Chinese drone giant DJI, has closed an oversubscribed, new RMB-denominated fund at about 1.5 billion yuan ($231.4 million), it announced on Thursday. The new fund will help Maison Capital double down on growth-stage enterprises in the fields of healthcare, advanced technology, and consumption upgrade. The fund, Maison… Continue reading China’s Maison Capital closes fifth RMB-denominated fund at $231m

China said to plan ban on US listings of tech firms with data security risks

China is framing rules to ban internet companies whose data poses potential security risks from listing outside the country, including in the United States, according to a person familiar with the matter. The ban is also expected to be imposed on companies involved in ideology issues, said the person, declining to be identified as the… Continue reading China said to plan ban on US listings of tech firms with data security risks

‘Bravely Default II’ is heading to Steam on September 2nd

The main Bravely Default games are famously known for being Nintendo exclusives, and the latest entry in the franchise launched only for the Switch. Pretty soon, though, you’ll be able to play Bravely Default II on a non-Nintendo device: The third main installment in the JRPG series will be available on Steam starting on September… Continue reading ‘Bravely Default II’ is heading to Steam on September 2nd

Indian VC firm A91 Partners secures final close of second fund at $525m: Report

Venture capital firm A91 Partners, floated by former Sequoia Capital executives, has reportedly reached the final close of its second fund by garnering $525 million in capital commitments. The sponsors or limited partners in the fund include the Canada Pension Plan Investment Board and financial services major Allianz group, The Economic Times reported. The firm… Continue reading Indian VC firm A91 Partners secures final close of second fund at $525m: Report

LAV leads $50m Series B funding in Chinese drug maker Link Pharmaceuticals

Clinical stage drug maker Lynk Pharmaceuticals Co. has completed a Series B round of financing, raising as much as $50 million, led by the Shanghai-based venture capital firm Lilly Asia Ventures (LAV), the investor announced on Friday.  New investors New Alliance Capital and Hangzhou Heda Industry Fund participated in the round, while returning investors Legend… Continue reading LAV leads $50m Series B funding in Chinese drug maker Link Pharmaceuticals

PE firm Everstone prepares to exit India’s Sahyadri Hospitals

Private equity firm Everstone has initiated the process to exit Sahyadri Hospitals two years after backing the institution. It is targeting an internal rate of return (IRR) of 50-60%. Private equity and venture capital firms typically look at a 5-6 year investment horizon and target an IRR of 20-30%. Seven to eight investors have shown… Continue reading PE firm Everstone prepares to exit India’s Sahyadri Hospitals

Leapwork Raises $62M in Series B Funding

Leapwork, a Copenhagen, Denmark-based provider of an automation platform built for business users, raised $62M in Series B funding. The round was co-led by KKR and Salesforce Ventures with participation from existing investors DN Capital and Headline. The company intends to use the funds to continue to grow its global presence, building up local teams… Continue reading Leapwork Raises $62M in Series B Funding