Hong Kong pledges more capital for local start-ups
The Hong Kong government is stepping up its investments in technology start-ups, pledging additional funding to programmes run by HKSTPC, an incubator under Hong Kong Science & Technology Park, and Cyberport.
Paul Chan, Hong Kong’s financial secretary, announced in his annual budget statement that HKD 600m would be injected into the HKSTPC Venture Fund, taking the vehicle’s total assets to HKD 1bn. In...
Indonesia e-commerce player Evermos gets $39m Series C
The International Finance Corporation (IFC) has led a USD 39m Series C round for Evermos, an Indonesian social commerce platform that positions itself as an impact play.
Singapore's Qualgro seeks $150m for Fund III
Qualgro Partners, a Singapore-headquartered venture capital firm, is looking to raise USD 150m for its third fund.
PE-backed CompareAsiaGroup merges with US-listed SPAC
CompareAsiaGroup, an Asia-focused financial products comparison platform also known as MoneyHero Group, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise value of approximately USD 342m.
VC investors primed for exit with China Youzan reorganisation
Hillhouse Capital and Matrix Partners China are set for liquidity events after China Youzan, an e-commerce software-as-a-service (SaaS) business listed in Hong Kong, agreed to take full control of its key subsidiary for HKD 2.6bn (USD 334.5m).