Asia Digest: Autocrypt raises $13m Series A; MBK Partners offer for Tsukui stake

Cameras for SenseTime Group Ltd.'s autonomous driving system are mounted inside a Lincoln Motor Co. MKZ sedan during a test-drive in Hangzhou, China, on Thursday, Sept. 6, 2018. SenseTime's image-identifying algorithms have made it the world's most valuable AI startup and an early leader in China, where it's won contracts with the country's top phonemakers, largest telecommunications company, and biggest retailer. Photographer: Qilai Shen/Bloomberg

South Korea-based autonomous driving security solutions provider Autocrypt has raised nearly $13 million in a Series A funding round while private equity firm MBK Partners has made an offer to acquire Tsukui Holdings Corporation.

Autocrypt raises $13m Series A

South Korea-based autonomous driving security solutions provider Autocrypt has raised nearly $13 million in a Series A funding round from KB Investment, Pathfinder H, Ulmus Investment, Korea Asset, Hyundai Venture Investment Corp, and IBK.

With this, the firm has raised a total of $15 million in 2020.

The firm will use the funds to enhance its security technology and operations. Besides, it also plans to expand its footprint to the United States and Europe in 2021.

The company claims to have secured smart roadways and highways in South Korea, totaling over 5000 km.

MBK Partners seeks to acquire Tsukui

Private equity firm MBK Partners on Monday announced plans to take Japanese nursing homes operator Tsukui Holdings Corp private through a tender offer. Tsukui has approved a takeover bid made by the PE firm, per a stock exchange filing,

North Asia-focused private equity firm MBK Partners has joined a list of PE firms pursuing the firm, which is said to be valued at JPY66.9 billion ($639 million), AVCJ reported. The company’s board has endorsed a bid of JPY924 per share.

Last year, MBK Partners closed its fifth buyout fund at $6.5 billion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.