The owners will now seek to raise about $678.6 million in exchange for up to 33% of the company.
Malaysia extends tax incentives for VCs, angel investors to 2023
China Digest: Sequoia leads $16m round for Alfilo; ZhenFund backs SaaS firm USP
Vietnam’s Bamboo Airways eyes $1b market cap with listing next year
People digest: Taubman appoints new Asia president; MoFo adds HK partner
Netmarble eyes diversification with proposed Woongjin Coway deal
Sequoia Capital announces 20 startups for accelerator Surge’s 2nd batch
PE firm Navis Capital acquires Malaysian durian company Hernan
SoftBank urges portfolio companies to focus on profitability first, IPOs later
LGT Capital hits final close of fourth Asia-focused PE fund at $1b
Asia PE-VC Summit 2019: Grab’s Tan Hooi Ling on super app ambitions & IPO plans
The package would significantly increase the stake of SoftBank, which already owns around one-third of WeWork.
SoftBank has invested in 10 companies from its Latam fund including Colombian delivery-app Rappi and Brazilian lender Banco Inter SA.
Policy & Regulations
The lawsuit argues that the cruising rule threatens to shift business away from ride-hailing firms in favor of taxis.
The move is contradictory to reports that indicate that its parent firm is considering a curb on China expansion.
The latest funding brings the Texas-headquartered AI startup's total money raised to date to $175 million.
IPOs & Markets
The Japanese telecommunications carrier acquired the British chip firm for $32 billion in 2016.
KKR Special Situations Fund III, which was registered with regulators in June, will acquire distressed debt at a discount.
SoftBank wants to renegotiate a $1.5 billion warrant deal, which was agreed based on WeWork's $47b valuation.
With One, founder Chatri said that he wanted to bring MMA back to its roots in Asia.
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