iCarsClub gets $60m Series B funds for China arm


Singapore’s iCarsClub has raised $60 million, in Series B round of funding, for its China venture – PPzuche, a Chinese peer-to-peer (P2P) car-rental – from IDG Capital Partners & MorningSide Ventures. Source Code Capital, Sequoia Capital, Future Capital and Crystal Stream also participated in this round of funding, taking the… Read more »

GIC-led investors to buy IndCor for $8 billion

Blackstone Group LP is planning to sell IndCor Properties Inc to a group of investors led by Singapore’s sovereign wealth fund GIC Private Ltd, for over $8 billion, according to a report in Bloomberg. IndCor Properties Inc owns industrial real estate assets (about 11 million square meters of warehouses) in… Read more »

PE firm Abraaj Group buys Wine Connection

Private equity firm Abraaj Group has acquired Southeast Asia’s wine themed food and beverage (F&B) chain Wine Connection for an undisclosed amount, marking its fourth acquisition in the region, the company said. The Abraaj Group, that operates in growth markets of Asia, Middle East, North Africa, Turkey, Sub-Saharan Africa and… Read more »

Two Asian Cos among 16 new investments by Intel Capital

Startups from California have walked away with bulk of the 16 new investments totaling $62 million from Intel Capital, illustrating Silicon Valley’s lead in attracting top ventures, amid the startup boom in capitals across the globe. Two Asian companies made the cut –  Pilot TV from Taiwan and Thundersoft (China… Read more »

SCPE buys 49% in Omni Capital, to form JV

Standard Chartered PE (SCPE), the investment arm of the British Bank, will inject up to $50 million, into a company that is wholly owned by TT International, a Singapore based player that undertakes global trading of consumer electronics. SPCE will invest in TT International company Omni Capital through a share… Read more »

GIC forays into NZ, invests in Turkey

Singapore’s sovereign wealth fund GIC has forayed into New Zealand by setting up a real estate joint venture with Goodman Property Trust, both companies said. GIC will have a 49% stake in the JV that will, initially, be worth NZ$313 million ($242.9 million) and will invest in Auckland’s Viaduct Quarter,… Read more »

12 firms vie for $500k prize in HK startup contest

The finals of the StartmeupHK Venture Programme will be played out in Hong Kong on November 11, where nine global startups and three local players, will compete for cash prizes of upto $500,000. Read about the 12 finalists here StartmeupHK Venture Programme has been organised by InvestHK, a government agency… Read more »

HungryGoWhere founder quits Co, joins VC firm

Dennis Goh, one of the three co-founders of Singapore’s popular restaurant review website HugryGoWhere has quit the company to join the US-based venture capital (VC) firm Wavemaker. The Wavemaker has two funds and invests in a broad range of technology-driven companies in the US and the Southeast Asia, says the… Read more »

Catcha’s VC arm to invest up to $100m in SEA

Global investment firm Catcha Group, which boasts of a strong track record of investing in startups in this region, has launched a venture fund to support companies in the new media, technology and mobile space in South East Asia. The new VC division, called Catcha Ventures will invest between $50… Read more »

SoftBank buys $627 million stake in Snapdeal

Snapdeal today said it raised $627 million in a round of investment led by Softbank, making the Japanese telecom and media group the largest investor in the Indian online retailer. The companies did not divulge Sotbank’s holding in India’s third biggest online marketplace, post the deal. With the latest round… Read more »