Deals

SoftBank-backed Yahoo set to merge with Naver’s Line

The two companies plan to reach an agreement on the merger by the end of the month.

Deals

Singapore’s Temasek to launch dual-tranche euro bonds

The bonds will be offered by Temasek Financial (TFin-I), a wholly-owned subsidiary of Temasek.

Private Equity

Cathay Capital raises $117m from Total, others for China energy fund

The fund is understood to be targeting a corpus of 1.5 billion yuan (roughly $250 million).

IPOs & Markets

China’s Alibaba poised to launch record-breaking $13.4b HK share sale

Deals

Philippines’ Udenna buying Chevron’s stake in Malampaya gas project

Private Equity

Greater China

Cathay Capital raises $117m from Total, others for China energy fund

The fund is understood to be targeting a corpus of 1.5 billion yuan (roughly $250 million).

India

O3 Capital to enter Indian lending space with $300m credit fund: Report

O3 expects to close fundraising for the credit fund before March 2020.

India

Canada’s CDPQ to invest additional $75m in India’s Azure Power

The investment will raise CDPQ's stake in Azure Power to 49.4 per cent.

Venture Capital

India

India Digest: 100X.VC to invest $28m in startups; Windrose hits first close of debut fund

100X.VC has also rolled out a CVC programme to on-board Indian corporates as investment partners.

Indonesia

Golden Gate leads seed round in Indonesian sharia fintech startup ALAMI

The deal marks the first funding in the region to be structured in sharia-compliant terms.

Greater China

China’s ZhongJi InnoLight joins state-backed firms to set up $143m semiconductor fund

The fund will make investments in semiconductor materials, chips, apparatus and devices, among others.

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Unicorns

India

SoftBank-backed Paytm to invest $70m in early-stage tech startups

Some of its past investments include Insider, Nearbuy, Loginext, Ticket New, Hungerbox, Nightstay, QRQL, and RecruiterGrid.

World

#BoycottUber trends after CEO seemingly defends Saudi murder of Khashoggi

Rest of Asia

SoftBank-backed hotel chain Oyo torn between profits and growth

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Q & A

Indonesia

HappyFresh expects Indonesia operations to become profitable next year

Myanmar

Fly-in fly-out does not work for PE in Myanmar: Anthem Asia’s Price

Indonesia

Fintech-focused Finch Capital to raise $75m SEA fund to double down on region

Indonesia

This Traveloka-affiliated startup is taking on OYO, RedDoorz and even Traveloka in Indonesia

Deals

Rest of Asia

WeWork Japan can become profitable ‘in near future’, says SoftBank

SoftBank was forced to rescue WeWork last month following a flopped IPO attempt.

India

India: Prime Venture leads $1.61m funding in Sunstone Eduversity

Sunstone claims to offer India’s only Pay-after-Placement formal education programme.

World

US-based Salesforce Ventures launches $50m Consultant Trailblazer Fund

The new fund would help Salesforce work towards its goal of reaching 2.5 lakh certified consultants by 2022.

IPOs and Markets

Greater China

China’s Alibaba poised to launch record-breaking $13.4b HK share sale

A sale of that size will dilute existing shareholders by 2.8%.

Greater China

Alibaba secures Hong Kong exchange approval for mega listing

Alibaba is proceeding with what could be this year’s largest stock offering despite violent pro-democracy protests gripping the city.

Singapore

Singapore’s Temasek mulls first euro-bond sale since 2016

Temasek may join a wave of issuers turning to Europe’s bond market, as negative interest rates and investor demand holds down borrowing costs versus

Analysis

India

India’s fledgling hyperlocal delivery firms eye merger with bigger rivals to survive

Consolidation may also be the result of Flipkart’s and Amazon’s push to enter the hyperlocal delivery space.

Rest of Asia

Ride-hailing deals bigger blow to SoftBank Vision Fund than WeWork

India

SoftBank writedowns cause ripples across Asia as startups brace for ‘tech winter’

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DealStreetAsia has partnered with Pandaily to bring you its weekly TechBuzz China podcast on the Chinese tech industry, straight from Silicon Valley

Opinion

Greater China

Tencent would be better off spinning out, listing its fintech unit

Rest of Asia

SoftBank and Masa Son desperately need the second Vision Fund

India

Flipkart’s likely PhonePe spinoff a good sign for Indian tech

Rest of Asia

How Son is taking a huge risk by jumping in to save drowning unicorn WeWork

Policy & Regulations

India

India considers changes to its dividend distribution tax to attract foreign capital

The move would be the latest in a series of steps from PM Modi’s government to prop up growth from the lowest in six years.

Singapore

After SG, used car marketplace Carro seeks lending licence in Thailand

Carro has previously said it is seeking a digital banking licence in Singapore to offer financial services to SMEs in the city-state.

Singapore

MAS, Temasek develop blockchain-based prototype for multi-currency payments

The prototype is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications.

People

India

Indian hospitality startup OYO appoints Harshit Vyas as CBO

Vyas’s appointment is effective 1 October.

Greater China

Chinese EV maker NIO hires CICC auto analyst Feng Wei as next finance chief

Vietnam

South Korean entrepreneurs flock to set up businesses in Vietnam

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