Genesis Capital, a Chinese GP established by Richard Peng, who previously led investments for Tencent Holdings, has closed its second US dollar-denominated fund at the hard cap of $850 million.
Peng founded the business in 2015 with Kurt Xu, who held senior positions at Tencent across operations, strategy, and investment. The GP raised approximately $450 million for its debut vehicle in 2016...
Pine Labs, an India payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has acquired Fave, a Malaysian counterpart also backed by Sequoia India, for $45 million.
Southeast Asia-focused ride hailing and local services platform Grab has agreed to go public in the US through a merger with a special purpose acquisition vehicle (SPAC) at an enterprise valuation of $30.4 billion.
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.