The investment in Ximmerse, which is part of MYEGâ€™s overall expansion strategy to tap into fast-evolving technologies, marks the Malaysian companyâ€
The financing will help B.Grimm Power expand to new regional markets, including Cambodia, Indonesia and the Philippines.
Q & A
Investree expects to close the Series B funding round in 2-3 months. Existing investors Kejora and Persada are set to participate in the latest round.
MicroPort will contribute 75% of the equity, while Yunfeng Capital will provide the remaining 25%.
The deal was done through a vehicle controlled by Nirvana's Managing Director and CEO, Tan Sri Kong.
The tax exemption will only apply to venture capitals that have registered with the countryâ€™s Financial Services Authority (OJK).
IPOs & Markets
The company's shares will be priced at a range between Rp 375-Rp 450 per share.
Toutiao's parent company ByteDance has been making investments to broaden its presence. In early November, itÂ invested $50 million in live streaming
East Ventures has had a busy month with deals in retail tech startup Warung Pintar and NZ-based exascale computing firm Nyriad.
Bukalapak co-founder & CFO Rasyid says the company remains open to both an IPO and private financing to fund growth.
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