<article>Gojek, Reliance Industries and stock market listings by Chinese companies dominated headlines at DealStreetAsia in the week that went by.</article>

Gojek, Reliance Industries and stock market listings by Chinese companies dominated headlines at DealStreetAsia in the week that went by.
<h3>A sweet ride for Gojek</h3>
Gojek’s announcement on Wednesday of <a href="https://www.dealstreetasia.com/stories/whatsapp-paypal-gojek-191170/">securing an unspecified amount of funding</a> from Facebook and PayPal – the capital injection brought the company’s Series F total to over $3 billion – was good optics for the Indonesian firm.
The amount raised was small by unicorn standards but it follows Facebook’s massive investment in India’s Reliance-owned Jio Platforms, which showed the social media giant is betting big on payments. Payments are also key to its Gojek investment, shows <a href="https://www.dealstreetasia.com/stories/gojek-cash-strong-backers-synergies-191280/">our analysis</a> of potential synergies and likely obstacles, including regulatory ones.
Separately, we had this scoop for you on the potential spin-off and capital raise for Gojek’s video streaming service GoPlay. <a href="https://www.dealstreetasia.com/stories/gojek-spinoff-191453/">Read and find out</a> how much it is likely to have raised and from which Southeast Asian investors.
<h3>Reliance cashes in on investor FOMO</h3>
It was yet another week that Reliance continued to make headlines. Besides <a href="https://www.dealstreetasia.com/stories/reliance-industries-rights-issue-191406/">raising $7 billion</a> in India&#8217;s largest-ever rights issue, it announced fresh investments in its digital unit, Jio Platforms.
In the sixth stake sale in less than seven weeks, the Indian conglomerate <a href="https://www.dealstreetasia.com/stories/jio-platformsmubadala-191532">announced a $1.2 billion investment</a> from Abu Dhabi-based Mubadala Investment Company.
Late on Friday, it said Silver Lake and its co-investors will <a href="https://www.dealstreetasia.com/stories/reliance-silver-lake-191664">inject an additional $601 million</a> in Jio Platforms, on top of the nearly $750 million the US private equity firm had committed earlier.
<h3>More moolah for Amazon aspirant in Vietnam</h3>
Vietnamese e-commerce company Tiki, which has modelled itself after Amazon, has <a href="https://www.dealstreetasia.com/stories/tiki-funding-191560/">raised around $130 million</a> in its latest funding round led by private equity firm Northstar Group.
The scoop follows our previous news break on Tiki&#8217;s merger talks with local rival Sendo. The merger proposal is now being <a href="https://www.dealstreetasia.com/stories/vietnam-tiki-sendo-merger-189418/" target="_blank" rel="noopener noreferrer" data-cke-saved-href="https://www.dealstreetasia.com/stories/vietnam-tiki-sendo-merger-189418/">evaluated by Vietnam&#8217;s competition watchdog</a>.
<h3>Chinese companies continue to tap capital markets</h3>
US-listed Chinese firms are seeking a foothold closer to home amid rising tensions between Washington and Beijing.
JD.com, China&#8217;s second-largest online retailer, is targeting to raise as much as HK$31.4 billion ($4.05 billion) in a <a href="https://www.dealstreetasia.com/stories/jd-hong-kong-listing-2-191651/">Hong Kong listing</a>. The share sale is set to be the largest in Hong Kong this year.
NetEase, China&#8217;s second-largest gaming company, is understood to have raised about HK$21 billion ($2.7 billion) in its <a href="https://www.dealstreetasia.com/stories/netease-hong-kong-191580/">Hong Kong share sale</a>. The secondary listing is also being seen as a victory for Hong Kong after the passing of a national security law by China that critics fear could threaten the former&#8217;s status as a financial hub.
However, not all are shying away from the US capital markets. Chinese online grocer Dada Nexus on Friday raised $320 million in an upsized <a href="https://www.dealstreetasia.com/stories/dada-nexus-us-ipo-191661/">Nasdaq IPO</a>.
Similarly, mobile gaming firm Playtika has hired investment banks to <a href="https://www.dealstreetasia.com/stories/playtika-us-ipo-191144/">prepare for a US listing</a> that could raise around $1 billion.
Others continue to make a beeline for stock exchanges in Greater China.
Toy-maker Pop Mart International Group has <a href="https://www.dealstreetasia.com/stories/pop-mart-ipo-191139">filed for a Hong Kong IPO</a> that could potentially raise $500 million. The company, famous for its blind boxes and Molly figurines, was last valued at $2.5 billion in an April fundraising.
Hong Kong-listed chipmaker Semiconductor Manufacturing International Corp (SMIC) is seeking to raise about 20 billion yuan ($2.8 billion) from a <a href="https://www.dealstreetasia.com/stories/smic-shanghai-listing-190948/">share sale in Shanghai.</a>
Chinese renewable energy firm Trina Solar is seeking to raise 2.5 billion yuan ($354 million) in <a href="https://www.dealstreetasia.com/stories/trina-star-market-190580">an IPO on the Nasdaq-style STAR Market</a>.
<h3>Asian funds mop up capital from US pension funds</h3>
Hong Kong-headquartered SSG Capital Management has <a href="https://www.dealstreetasia.com/stories/ssg-capital-virginia-retirement-191461/">secured a $300 million capital commitment</a> from Virginia Retirement System for its latest fund that will lend to companies in the Asia Pacific.
Los Angeles City Employees’ Retirement System has <a href="https://www.dealstreetasia.com/stories/lacers-40m-mbk-190790">committed up to $40 million</a> to North Asia-focused MBK Partners’s latest fund. The vehicle makes control investments in consumption-related sectors such as telecom and media, consumer and retail, and financial services.
Illinois Municipal Retirement Fund has <a href="https://www.dealstreetasia.com/stories/lightspeed-india-fund-2-190754">committed up to $25 million</a> to Lightspeed Venture Partners&#8216;s third India-focused fund.
<h3>News from SEA&#8217;s VC funds</h3>
Tin Men Capital, a Singapore-based venture capital (VC) firm focused on B2B and enterprise technology, has <a href="https://www.dealstreetasia.com/stories/tin-men-debut-fund-target-191056/">slashed the fundraising target</a> for its debut vehicle, for which it was seeking to raise as much as $100 million.
Southeast Asian venture capital firm Kejora Capital and Japanese financial conglomerate SBI Holdings have <a href="https://www.dealstreetasia.com/stories/kejora-sbi-holdings-fund-191294/">launched a $30 million joint venture fund</a> to make early-stage investments in Indonesia. The fund will back startups in the fields of supply chain, education, medical, consumer goods and retail, agriculture, financial technology, and digital media.
XA Network, formerly known as Xoogler Angels, has <a href="https://www.dealstreetasia.com/stories/vertex-ventures-sea-fourth-fund-190942">invested an undisclosed sum</a> in Vertex Ventures’s $305-million fourth Southeast Asia and India fund. This is XA Network’s first participation as a limited partner in a VC firm.
<h3>Here&#8217;s what&#8217;s brewing</h3>
There is more to <a href="https://www.dealstreetasia.com/stories/indonesia-coffee-industry-covid-190597">coffee retail in Indonesia</a> than Kopi Kenangan.
Away from the spotlight and amid debates about the sustainability of the on-demand coffee business, players such as Jago Coffee, Flash Coffee, Kedai Kopi Kulo and Janji Jiwa have been quietly expanding across the archipelago (and overseas, too). The coronavirus outbreak, however, threatens to make them go off the boil.

Gojek, Reliance Industries and stock market listings by Chinese companies dominated headlines at DealStreetAsia in the week that went by. 

Editor's take: The week that was – June 1-5

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Editor's take: The week that was – June 1-5

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