Author: Deal Street Asia Online News

Amid rapid expansion, Chinese fast fashion platforms could be next US target

As Chinese fast fashion platforms gain pace in North America they look set to hit a familiar snag—worsening US-China relations. In America, lawmakers and policy boffins are talking up the risks they say are posed by the rapid expansion of e-commerce companies like Shein Group Ltd. and PDD Holdings Inc.’s Temu. China remained America’s largest… Continue reading Amid rapid expansion, Chinese fast fashion platforms could be next US target

Number of ‘big-ticket’ deals in SE Asia falls by 75% in Q1 2023

An analysis of the top 20 equity deals in Southeast Asia in the first quarter of 2023 shows that big-ticket funding transactions are becoming scarcer—a sign of waning investor confidence amid the uncertain economic climate. Of the 195 funding transactions in the region in Jan-March, only five deals were valued north of $50 million, according… Continue reading Number of ‘big-ticket’ deals in SE Asia falls by 75% in Q1 2023

FC Capital charges at Australia’s private credit market with $332m debut fund

Australian alternative asset manager FC Capital is in the market to raise as much as A$500 million ($332 million) for its maiden private credit fund to tap small and mid-market companies, according to CEO Christian Brehm.  The firm is targeting a first close of about A$100 million ($66 million), Brehm said, with a minimum closing… Continue reading FC Capital charges at Australia’s private credit market with $332m debut fund

Alibaba’s cloud unit to slash 7% of staff in overhaul ahead of IPOChina’s largest cloud service provider is slated to be listed next year.

Alibaba Group Holding Ltd’s, cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday. The cloud unit has started to offer severance to employees, the source said. Alibaba did not immediately… Continue reading Alibaba’s cloud unit to slash 7% of staff in overhaul ahead of IPOChina’s largest cloud service provider is slated to be listed next year.

Matrix Partners India increases target for fourth fund to $525m, raises $517m so far

Matrix Partners India, an early backer of ride aggregator Ola and payments startup Razorpay, has raised $517 million so far for its fourth fund, surpassing its original $450 million target, show its regulatory filings with the US Securities and Exchange Commission (SEC). The total corpus that the venture capital (VC) firm is now looking to… Continue reading Matrix Partners India increases target for fourth fund to $525m, raises $517m so far

Hong Kong to issue crypto licences with measures to protect retail investors

Hong Kong’s securities regulator said its crypto licensing regime will include measures to protect retail investors as it brings in tougher rules for digital asset companies from June 1. Hong Kong’s move to allow retail trading in cryptocurrencies has come after a year of turmoil in the sector, with the collapse of crypto exchange FTX… Continue reading Hong Kong to issue crypto licences with measures to protect retail investors

South Korea’s HYBE inks distribution deal with China’s Tencent Music

South Korean entertainment company HYBE, home to K-pop superstars BTS, said on Tuesday it has signed a music distribution deal with China’s Tencent Music. The Seoul Economic Daily reported earlier on Tuesday that the deal would see music from HYBE artists become available on streaming platforms owned by Tencent Music Entertainment Group, including QQ Music, KuGou… Continue reading South Korea’s HYBE inks distribution deal with China’s Tencent Music

Qatar Investment Authority leads $250m funding in AI startup Builder.aiIconiq Capital, Jungle Ventures, and Insight Partners also participated in the …

Builder.ai, the AI startup that has built a low-code/no-code app development platform, Tuesday announced that it has raised $250 million in its Series D funding round led by Qatar Investment Authority (QIA). The Series D round included participation from existing and new investors including Iconiq Capital, Jungle Ventures, and Insight Partners, Builder.ai said in a… Continue reading Qatar Investment Authority leads $250m funding in AI startup Builder.aiIconiq Capital, Jungle Ventures, and Insight Partners also participated in the …