Hong Kong plans to amend the tax exemption for private equity funds, which was introduced in 2015 with a view to making it easier for GPs to operate locally but has been criticized by industry participants as unworkable.
The exemption means that PE firms with funds domiciled offshore no longer have to set up structures designed to avoid triggering permanent establishment in Hong Kong and becoming liable for local tax....
Abu Dhabi sovereign wealth fund Mubadala has agreed to invest INR90.9 billion ($1.2 billion) in Jio Platforms, the holding company for various internet and telecom assets owned by Indian oil-to-retail conglomerate Reliance Industries.
Bessemer Venture Partners has led an INR1.5 billion ($20 million) Series B round for teleconsultation health platform DocsApp.
Everest Medicines, a China-based biopharmaceutical company, has raised $310 million in Series C funding across two tranches.
Bespin Global, a Seoul and Beijing-based cloud management services provider, has raised RMB530 million ($74.6 million) in a Series C round from SK Telecom and existing investor DY Holdings.