DealStreetAsia, a Nikkei Group-backed, Singapore-headquartered media company that covers the private capital industry and the business of startups across Asia, announced that it has agreed to bring in global media investment firm North Base Media (NBM) as a partner and shareholder.
The announcement was made at the 10th edition of DealStreetAsia’s annual, flagship Asia PE-VC Summit, which was held in Singapore on September 10 &11.
NBM, which is led by former Wall Street Journal editor Marcus Brauchli and former Media Development Investment Fund CEO Sasa Vucinic, was one of DealStreetAsia’s original backers.
“We are delighted to welcome NBM back into DealStreetAsia,” said Tsuyoshi Hasebe, President & CEO of Nikkei. “They bring great experience in both Asian media and business information.”
With its return to DealStreetAsia’s cap table, NBM will take a leadership role alongside Japan’s Nikkei Inc., a global business media leader, which has been a majority shareholder in DealStreetAsia since acquiring the company’s earlier investors in 2019.
“As an early backer, NBM has closely watched our journey and saw the potential of what DealStreetAsia could become and will help us get there. We are excited to renew our association with NBM as we chart the next chapter of DealStreetAsia’s growth,” DealStreetAsia’s founder, CEO, and editor-in-chief, Joji Thomas Philip, said.
NBM has been an early investor in several Asian digital-media companies, including Indonesia’s IDN Media, Rappler in the Philippines, Vietcetera in Vietnam and Tokyo-based TNL Mediagene.
“We see great potential in media brands that understand their audiences and bring them essential information in formats and timeframes that they value,” NBM co-founder Marcus Brauchli said.
Financial terms of the deal remain undisclosed.