Earnings and Results
The firm has signed a deal to sell its logistics and delivery businesses.
Bukalapak attributes the performance to top-line growth, thriving take rate and excellent cost control
Analysis
The company is not shutting down its entire operations, CEO Rama Mamuaya told DealStreetAsia.
Deals
Venture Capital
Asset manager Value Partners said to have laid off a third of China staff
Bahrain's Investcorp to buy NSE's IT arm for $120m in India push
Indonesia's Bukalapak hits positive adjusted EBITDA for first time in Q1
More Stories
HK-based PE firm Azuremount WH closes co-control deal in AI software developer ATOM
Lured by robust exits, PE firms line up for hospital assets in India; SE Asia to follow
GoTo-backed digital lender Bank Jago’s profits surge 24% in Q1 2024
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Southeast Asia
Southeast Asia's startups saw an uptick in the number of funding rounds recorded in the first quarter of the year, but the total capital raised nosedived to the lowest level seen in over five years.
India
Fundraising by Indian startups fell 11% sequentially to $2.6 billion in Q1.
Investcorp plans to have assets worth $5 billion in India over the next five years.
Greater China
The deal marks the fourth transaction of Azuremount WH, which has deployed almost $20m so far.
Forus is backed by Accel Partners, Asian Healthcare Fund, Chiratae Ventures, and TEAMFund.
Post-financing, the firm will see its registered capital change to $779m from $630m, per the filing.
Thailand
Betagro Ventures will back early-stage startups and also undertake venture building of new businesses.
Malaysia
Blue Chip founder says $209m fund helps country's semiconductor industry.
Ola is exiting the UK, Australia, and New Zealand.
Indonesia
IFC said the funds will be split between KB Kookmin Card's subsidiaries in these countries.
BRISKPE claims to simplify global payments for MSMEs.
The debt investment will help the KKR-backed company grow its business loan portfolio
Andersen was a key player in the company's successful challenge in 2020 to the attempt to ban TikTok.
The salary cuts will affect more than 2,000 bankers.
FirstCry is said to withdraw its IPO papers, make changes and refile them as early as next week,
Vietnam
World
Rest of Asia
Singapore
The CSRC rules also expanded the scope of the regulation to relatives of its ex-employees.
Expedited passes for VCs and unicorns, were among the announcements.
The social media company expects to win a legal challenge to block the ban.
The job cuts are part of a planned overhaul launched to boost profit, sources said.