Abraaj seeks court-led restructuring as it battles creditors


Abraaj’s move comes less than five months after some of its investors commissioned an audit to investigate the alleged mismanagement of money in Abraaj’s healthcare fund.

Taiwan’s live streaming platform M17 cancels IPO, raises $35m in private round

M17, formed by merger of Taiwan’s 17 Media and Singapore’s Paktor, was hoping to raise $60m through its IPO on NYSE.

Earning 149x returns for early investor, Mercari IPO party turns hottest startup payoff

Mercari Inc.’s $3.7 billion coming-out party will deliver a 149-times return to early investor United Inc., which engineered a $2.7 million round in the flea-market app in 2013. That stake will be worth at least $408 million when Mercari goes public

SoftBank-backed WeWork raising funds at $35b valuation

WeWork Cos. is seeking to raise funds at a $35 billion valuation, a price tag that would place the co-working startup above companies like Airbnb and SpaceX.

US real estate startup Opendoor’s valuation tops $2b after new funding

The round was led by investors General Atlantic and Access Technology Ventures, as well as home construction company Lennar Corp.

Impact Digest: TriLinc approves $15.3m loans; OPIC’s $5m debt for Grameen India

The latest funding brings TriLinc’s total financing commitments as of the end of May to $438.2 million for business expansion and socio-economic development.

Australia: Blackbird Ventures leads $10m round in drone analytics startup Propeller Aero

The round was joined by Sequoia China as well as existing major investors.

SoftBank Group backs Mubadala Ventures’ new $400m European tech fund

Japan’s Softbank Group will participate in the fund as a strategic investor via its subsidiary, SIMI US Holdings I, Inc, a statement from Mubadala said.

Nepal Digest: Dolma invests in Sastodeal; Emerging Classifieds backs Basobaas

Besides Dolma, other key investors active in Nepal are International Finance Corporation and One to Watch.

Israel VC Yozma Group sets up biotech-focused JV with S Korea’s Mirae SCI

The JV will also offer investment, consulting and global networking services to local biotech startups.