FEBE Ventures launches USD 75 million second fund
The venture capital firm has announced the launch of its USD 75 million second fund, marking a substantial expansion from its inaugural USD 30 million fund. The new fund will focus on founders raising pre-seed and seed-level funds, with an emphasis on startups in B2B software, marketplaces, health, and sustainability.
FEBE Ventures, with established networks in Southeast Asia, North America, Latin America, and Europe, concurrently welcomes seasoned entrepreneurs Nicolas El Baze and Aditya Pendyala as partners.
The fund launch also involves a partnership with Silicon Valley-based investment firm Tekton Ventures to share expertise.
Fr8Labs secures USD 1.5 million in seed round
The Singapore-based logistics startup has raised USD 1.5 million in a seed funding round from various investors including East Ventures, FEBE Ventures, Seedstars, Venturra, Mulia Sky Capital, Kaya Founders, and angel investors.
Fr8Labs will utilize the newly raised funds for product development and to expand its presence in Southeast Asia. —The Business Times
Rich Data Co secures USD 17.5 million in Series B round
The Sydney-headquartered fintech company has secured USD 17.5 million in a Series B funding round, with Westpac and nCino leading the investment, and participation from BMYG and Octava Fund.
Rich Data Co, or RDC, plans to utilize the funds to fuel its expansion in North America and strengthen its position in the global banking sector.
Immensa raises USD 20 million in Series B round
Immensa, a Dubai-founded outfit specializing in additive manufacturing and 3D printing for industrial applications, has secured USD 20 million in a Series B funding round.
The funds will support Immensa’s transition from a regional entity into a global solutions provider, constructing the largest digital warehouse in the energy sector. Additionally, Immensa will utilize the funds to refine its platform and tools, while supporting operations in Saudi Arabia and the UAE.
Immensa’s expansion plans include moving beyond its current presence in Kuwait, Bahrain, Qatar, and Jordan. Within the next six months, the company aims to enter two additional regional countries, with future aspirations for expansion into North America and Southeast Asia. —TechCrunch
Catcha Digital acquires majority stake in Digital Symphony
The Malaysia-based investment holding company is set to acquire a 51% equity interest in DS Services, a digital agency commonly known as Digital Symphony, for MYR 21.17 million (USD 4.55 million).
The acquisition will be funded through a mix of internally generated funds, debt, and equity financing, with expectations of a substantial enhancement to Catcha Digital’s earnings per share. —TechNode Global
Keppel acquires 50% stake in Aermont Capital for SGD 517 million
The Singaporean conglomerate has entered into an agreement to acquire an initial 50% stake in Aermont Capital, a European real estate manager. This strategic move aligns with Keppel’s expansion goals, empowering it to strengthen its asset management capabilities in preparation for its venture from the Asia Pacific into Europe.
The proposed consideration for the initial stake is up to SGD 517 million (USD 388.2 million), with completion anticipated in the first half of 2024, subject to regulatory approvals.
“Keppel offers something specific and compelling to our franchise—its technical and operating expertise are well-aligned to key megatrends such as the energy transition, digital transformation and urbanization. For Aermont, access to that expertise will help us better capitalize on a number of technology-driven opportunities,” said Leon Bressler, chairman of Aermont Capital.
Lighthouse Canton reaches final close of LC Nueva AIF fund
The Singapore-headquartered investment firm has reached the final close of LC Nueva AIF, a scheme under Luminere Investment Trust, securing INR 3.5 billion (USD 42 million).
Initially targeting INR 3 billion (USD 36 million), the fund was expanded in response to oversubscribed interest from family offices and institutional investors.
Developed in collaboration with Nueva Capital, the fund primarily focuses on investments in startups at pre-Series A or Series A stages. —VCCircle
DBS extends AUD 207 million green loan to KWAP
The Singapore-based financial institution has extended an AUD 207 million (USD 137.4 million) green loan to Kumpulan Wang Persaraan (KWAP), a retirement and pension fund for Malaysian public sector workers, to refinance a Grade A green office building in Australia.
“We have been financing green infrastructure and properties across [the] Asia Pacific to support the region’s transition toward a low carbon future. In Australia, we are very active in green and sustainability-linked financing to support our strategic clients’ sustainability goals. DBS is proud to be partnering with KWAP as a pioneer in sustainability,” said Niraj Mittal, country head of DBS in Australia.
Recent deals completed in China:
- Sinzen Medtech, a Shanghai-based medtech company, has completed its pre-Series A funding round, securing an eight-figure RMB sum. This round was led by HiMed with the support of existing shareholder Fong Capital Partners. —36Kr
- Taoxiangxiang, a Shanghai-based company specializing in project development and business partnership facilitation, has completed its angel funding round, securing an eight-figure RMB sum. The funds will be used primarily for project and market development as well as the strategic implementation of commercial applications. —36Kr
- Changyang Tech, a Beijing-based industrial technology company, has raised an undisclosed amount of funding from various investors. The funds from this round will be utilized to fortify the company’s business and industrial foundation, enhancing collaboration and communication with various stakeholders. —36Kr
- Ju Liao Integrative Medicine, a Huzhou-based healthcare center, has completed an angel round of financing, raising an eight-figure RMB sum. —36Kr
- Simetric, a Shenzhen-based advanced manufacturing technology company, has bagged a nine-figure RMB sum in a Series A funding round led by Guozhong Capital. Various institutional investors participated in this round, including CTBC Holding. The funds will empower Simetric to industrialize production equipment, expedite R&D, grow its team, and bolster marketing activities. —36Kr
- Kexing Biochem, a Hangzhou-based biochemical company, has raised close to RMB 100 million (USD 14.1 million) in a Series B funding round. The funds will be used as working capital for the company’s Dexing, Jiangxi factory, support product R&D, and construct a synthetic biology platform in Hangzhou. —36Kr
- DataBuFF, a Hangzhou-based company specializing in artificial intelligence for IT operations (AIOps), has secured an eight-figure RMB sum in a Series A funding round from Kaijian Venture Capital. Voyagers Partners acted as the exclusive financial advisor. The company will utilize the funds to market and develop its observability platform. —36Kr
- Tenways, an electric bicycle brand, has completed its Series B funding round. The round was led by existing investors L Catterton and Meridian Capital, with the support of Hillhouse Investment and new investor Luxshare. Cygnus Equity served as the exclusive financial advisor. Tenways will allocate the newly raised funds toward product R&D, supply chain optimization, branding, and team development. —36Kr
- Gazer, a Jiangsu-based industrial automation technology company, has raised an eight-figure RMB sum in a funding round from SIDVC, SND, Oriza Seed, Z&Y Capital, and other institutional investors. The funds will be used primarily to expand its team, conduct product R&D, and facilitate its market expansion. —36Kr
Latest venture capital deals in India:
- Sprout Venture Partners, an early-stage venture capital fund, has raised close to USD 10 million as part of its second fund, with plans to secure an additional USD 5 million by mid-next year. This brings the total corpus to USD 15 million. The second fund aims to invest in 12–15 companies, ranging from pre-seed to pre-Series A levels, with an average check size of USD 500,000. —The Economic Times
- Suind, an agritech startup, has raised INR 50 million (USD 600,000) in a seed funding round led by Sunicon Ventures. The round also saw participation from Zetta Farms and angel investors. The capital will be used to develop Suind’s technology stack, improve the scalability of its platform, and facilitate its expansion in India and Europe. Suind operates from Bangalore and Zurich. —VCCircle
Inflow, Wind.app, M Village, and more led yesterday’s headlines:
- Inflow, a Vietnam-based fashion supply chain platform, raised USD 2 million in a seed funding round led by AppWorks, with participation from 500 Global, January Capital, Spiral Ventures, and Saison Capital.
- Wind.app, a Singapore-based payments company, secured USD 3.8 million in a pre-seed funding round jointly led by Global Founders Capital and Spartan Group.
- M Village, a Vietnamese co-living startup, secured USD 2.3 million in an internal funding round aimed at expediting its expansion plans.
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