Financial Times owner Nikkei acquires majority stake in DealStreetAsia

From Left to Right: Naotoshi OKADA, President and CEO of Nikkei Inc., with Joji Thomas Philip, Founder and Editor-in-Chief, DealStreetAsia

Nikkei Inc, the Japanese media firm that owns the Financial Times and publishes Nikkei Asian Review, on Friday announced that it has acquired a majority stake in DealStreetAsia.

Financial details and other terms of the acquisition were not disclosed but DealStreetAsia founder and editor-in-chief Joji Thomas Philip said the media startup will continue to operate as an independently-managed entity and remains committed to tracking private equity and venture capital activity, deal flows, fundraising, and startups across Southeast Asia and India.

“Joining forces with Nikkei will help us accelerate our mission of helping the PE-VC industry and dealmakers understand the changing megatrends in this space,” Philip said in a statement.

Nikkei acquired the stake in the Singapore-headquartered financial news startup by buying out existing shareholders, including SPH Ventures, North Base Media, Alpha JWC, Ozi Amanat’s K2 VC, and SGAN.

Angel investors such as Paytm CEO and founder Vijay Shekhar Sharma and Rogers Holdings chairman Jim Rogers have also agreed to exit.

Indian business daily Mint, published by Hindustan Times, and DealStreetAsia’s Philip continue to be minority shareholders, according to a statement released by Nikkei.

With the acquisition, DealStreetAsia expects to collaborate across Nikkei’s publications and group of companies, such as the FT, Nikkei Asian Review, and scoutAsia, Philip said.

Nikkei said the deal deepens its coverage of the Asian startup ecosystem and tech industries, which it describes as the fastest-growing sectors in the region.

“Together, we will expand and deepen our reporting of the thriving Asian technology and startup landscape, with a strong focus on developing the editorial offering at Nikkei Asian Review, a key product in our global strategy,” according to Nikkei Inc president and CEO Naotoshi Okada.

Founded in 2014, DealStreetAsia reports on investments, mergers, acquisitions, private equity, venture capital, investment banking, and the business of startups across the Asian region. It has correspondents in Singapore, Indonesia, Malaysia, Vietnam, Thailand, the Philippines, Myanmar, and India.

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.