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500 Startups to target 100 Indonesian startups with latest Durian Funds II

500 Startups, a Silicon Valley-based VC firm is targeting to invest in up to 100 Indonesian seed stage companies from its US$50 million Durian Funds II launched last October. The number represents half of 500 Startup’s total targeted market in Southeast Asia, where it said it was looking to invest ... Read More »

Vietnam’s Ben Thanh Jewelry secures US$7.6 million from Mekong Capital to launch PRECITA

Ben Thanh Jewelry JSC, a jewelry and precious stone company in Vietnam has secured an investment of US$7.6 million from Mekong Capital via its Mekong Enterprise Fund (MEF) III. This marks the venture capital firm’s second investment in a jewelry firm after Phu Nhuan Jewelry (PNJ) back in 2007. The ... Read More »

Microfinance lender MFIL adds on US$1 million debt from Maybank

Myanmar Finance International Limited (MFIL), a microfinance joint venture of AIM-listed Myanmar Investments International (MIL), has raised an additional US$1 million debt facility from Maybank, the only Malaysian bank to be granted a banking license from the Central Bank of Myanmar. The loan agreement was signed on May 3, adding ... Read More »

Cashback site Dealcha! secures seed investment from 500 TuksTuks and others to accelerate growth

Dealcha! website Thai cashback platform Dealcha! has recently raised an undisclosed seed funding to accelerate its growth. New investors on board include 500 TukTuks, Solera Investment, NextTech, and angel investor Robert Lomnitz from Bangkok Venture Club. Danny Chang, the startup’s co-founder and director of business development, said the company plans ... Read More »

IFC to invest US$10.2 million in Vietnam agribusiness PAN Farm

International Finance Corporation (IFC), the capital lending arm of the World Bank Group, has recently proposed an investment of VND 230 billion (about US$10.2 million) in agribusiness PAN Farm. It is said that the IFC equity investment accounts for an approximate 10.4 percent stake in PAN Farm, and will help ... Read More »

NRF Singapore sets up Data Science Consortium and AI program with US$107 million investment for the next five years

Singapore’s National Research Foundation (NRF) will be investing up to S$105 million (about US$107.3 million) in building the city-state’s capabilities in artificial intelligence (AI), with emphasis placed on finance, healthcare, and city management solutions. Yaacob Ibrahim, the Singapore’s Minister for Communication and Information explained that artificial intelligence could help address ... Read More »

Kresna-backed M Cash Integrasi plans year-end IPO for business expansion

M Cash Integrasi (MCI), a digital kiosk firm backed by Kresna Graha Investama is looking to raise up to INR 250 billion (about US$18.7 million) through a year-end IPO. The public offering will see MCI issue new shares equivalent to 20 percent of the company’s enlarged capital. Based on the ... Read More »

Actis makes mandatory takeover offer for remaining GHL shares

Growth markets investor Actis has emerged as the new major shareholder of GHL System Bhd, following its acquisition of a 44.37 percent stake on March 31. Its special-purpose vehicle Actis Stark had acquired the stake at US$67.23 million from Cycas, a unit of the PE firm Creador and GHL executive ... Read More »