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China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

Venture Capital

China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

In 2022, Fortune Capital made over 70 investments - in 70% of that, it served as the lead investor.

Impact investor Sweef Capital eyes final close of $80m debut vehicle in Q3

Impact investor Sweef Capital eyes final close of $80m debut vehicle in Q3

The fund, which is focused on women-led enterprises, aims to make eight to ten investments.

China's Oceanpine Capital targets $600m for third USD Fund

China's Oceanpine Capital targets $600m for third USD Fund

Firm plans to tap LPs in the Middle East.

Hong Kong opens crypto exchange licensing ahead of retail trading

Hong Kong opens crypto exchange licensing ahead of retail trading

Chinese ChatGPT rival Mobvoi files for Hong Kong IPO

Chinese ChatGPT rival Mobvoi files for Hong Kong IPO

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Private Equity

US pension fund Montana BOI commits $110m to two Asia funds

US pension fund Montana BOI commits $110m to two Asia funds

Last year, it pledged $50 million to Singapore-based Crescent Point Group’s third fund.

Taiwan's Fubon Life to invest up to $70m in PSG’s sixth growth fund

Taiwan's Fubon Life to invest up to $70m in PSG’s sixth growth fund

PSG, which is in the market to raise a $6.5 billion fund, plans to tap growth-stage deals.

Temasek's decarbonisation platform GenZero backs $50m funding in US startup CleanJoule

Temasek's decarbonisation platform GenZero backs $50m funding in US startup CleanJoule

The round was anchored by PE firm Indigo Partners.

Venture Capital

China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

China's Fortune Capital holds first close of $1.13b RMB fund to double down on hard tech

In 2022, Fortune Capital made over 70 investments - in 70% of that, it served as the lead investor.

Singapore PE firm EMIA backs Cambodia's Full Well and Nisshin Logistics

Singapore PE firm EMIA backs Cambodia's Full Well and Nisshin Logistics

The investment is EMIA's second from its third vehicle, the ASEAN Frontier Markets Fund (AFMF).

VC fundraising in China heading for weakest first half in 8 yrs

VC fundraising in China heading for weakest first half in 8 yrs

Venture deals by value, at $27.2 billion as of May 30, dropped to the lowest since 2020.

Q & A

China's Oceanpine Capital targets $600m for third USD Fund

China's Oceanpine Capital targets $600m for third USD Fund

Impact investor Sweef Capital eyes final close of $80m debut vehicle in Q3

Impact investor Sweef Capital eyes final close of $80m debut vehicle in Q3

HK is becoming a prime venue for Web3 investors looking to raise funds: Newman Capital

HK is becoming a prime venue for Web3 investors looking to raise funds: Newman Capital

Indonesia's Evermos to focus on growth, profitability as it trains sights on IPO

Indonesia's Evermos to focus on growth, profitability as it trains sights on IPO

Deals

Chinese AI startup MiniMax close to completing $250m funding at $1.2b valuation

Chinese AI startup MiniMax close to completing $250m funding at $1.2b valuation

An entity linked to Tencent is said to be among the investors.

Google backs Indian spacetech startup Pixxel in $36m Series B round

Google backs Indian spacetech startup Pixxel in $36m Series B round

With the new funds, Pixxel plans to launch six satellites in 2024.

Canada's Brookfield Renewable buys majority stake in India's CleanMax for $360m

Canada's Brookfield Renewable buys majority stake in India's CleanMax for $360m

The company hopes to become a 5 GW platform over 3-4 years.

Analysis

Hong Kong opens crypto exchange licensing ahead of retail trading

Hong Kong opens crypto exchange licensing ahead of retail trading

Hong Kong's new regulations will allow retail trading as soon as the second half of 2023.

APAC family offices cut Greater China holdings: UBS survey

APAC family offices cut Greater China holdings: UBS survey

Allocations to Greater China fell to 23% in 2022, from 40% in 2021.

SE Asian tech giant Sea disbands investment arm

SE Asian tech giant Sea disbands investment arm

The arm, Sea Capital, stopped new equity investing in 2022 with leadership moving on in May.

Opinion

Indonesia’s tech startup ecosystem enters a moment of self-introspection

Indonesia’s tech startup ecosystem enters a moment of self-introspection

Guest Post: Generative AI’s linguistic jugglery leads the way in breaking language barriers

Guest Post: Generative AI’s linguistic jugglery leads the way in breaking language barriers

Vantage Point: Q1 scorecard of SE Asia’s listed tech majors shows shift away from GMV growth

Vantage Point: Q1 scorecard of SE Asia’s listed tech majors shows shift away from GMV growth

Editor's take: The week that was — May 1-6

Editor's take: The week that was — May 1-6

Policy and Regulations

BYJU's creditors call off negotiations to restructure $1.2b loan

BYJU's creditors call off negotiations to restructure $1.2b loan

Lenders can now sell the term B loan securities.

Singapore's Crypto.com gets major payment institution licence from MAS

Singapore's Crypto.com gets major payment institution licence from MAS

The firm had received an in-principle approval for its DPT services from MAS in June last year.

India may cut solar panel import tax to make up domestic shortfall

India may cut solar panel import tax to make up domestic shortfall

India imposed the 40% solar panel import tax in April 2022 and a 25% tax on solar cells