Naver’s Webtoon Entertainment files for US IPO
Webtoon Entertainment, a subsidiary of South Korean internet giant Naver, has filed for an IPO in the US. While the proposed terms for the offering will be disclosed in a later filing, Naver has stated that it expects to maintain control over the online comics operator post-IPO.
The offering is being led by financial heavyweights Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Evercore. Webtoon plans to trade its shares on the Nasdaq Global Select Market under the symbol WBTN.
Hello Health Group secures investment from 5i Ventures
Hello Health Group (HHG), a digital health and wellness platform, has sold a major stake to 5i Ventures (5iV), the Singapore-based investment vehicle of Dieter Schlosser.
With this investment, 5iV has become the leading investor in HHG and will support the company’s next phase of growth, enhancing its market position across Asia. The deal was facilitated by Aument Capital Partners.
GMM Music sells 10% stake to Tencent
GMM Music, a Thai entertainment platform and subsidiary of Thailand’s GMM Grammy, has sold a 10% stake to Chinese tech giant Tencent and its Tencent Music Entertainment (TME) platform for USD 70 million. This deal reportedly values GMM at USD 700 million.
In addition to an undisclosed cash sum, Tencent is offering a minority stake in Joox Thailand, the local unit of its music streaming company, as part of the payment for the deal.
This move aligns with Tencent’s broader ambitions for the Southeast Asian music market. By leveraging GMM’s extensive catalog and market reach, Tencent aims to enhance its digital music services and expand its influence across the region. —Reuters
InfiniD said to secure funding from Argor and IVP
InfiniD, an Indonesian fintech startup, has reportedly secured funding from Argor Capital Management and Insignia Ventures Partners (IVP), according to regulatory filings accessed by DealStreetAsia.
Recent deals completed in China:
- Nio Power, a subsidiary of listed electric vehicle maker Nio, has secured RMB 1.5 billion from Wuhan Guangchuang Fund, an equity investment vehicle set up by Wuhan Optics Valley Industrial Investment. With this funding, Nio Power will conduct technology R&D and double down on the manufacturing, operations, and maintenance of its battery charging, swapping, and storage solutions.
- Qingmao Intelligence, a Beijing-based company specializing in artificial intelligence optimization and engineering, has raised an eight-figure RMB sum in a pre-Series A+ round of financing. The round was jointly led by QF Capital and Fortune Capital, with continued investment from existing shareholder MiraclePlus. The funds will primarily be used for talent nurturing, product R&D, and market deployment. —36Kr
- Unisoc, a fabless semiconductor company based in Shanghai, has raised RMB 4 billion (USD 552 million) in a new round of financing. The investors include ICBC, Bank of Communication (BOCOM), PICC Capital, CSC Financial, Guotai Junan Innovation Investment, and Hony Capital. The funds will be utilized to enhance its product development and market expansion efforts. —36Kr
- Miqro Era, a quantum computing company, has raised an eight-figure RMB sum in a pre-Series A funding round. The round was jointly led by Kunlun Capital and Hefei Hi-tech VC. —36Kr
- Micflon, a Shandong-based producer of high-performance fluorinated materials, has secured an eight-figure RMB sum in a Series A round of financing. The round was led by Changjiang Capital, with 100Summit Partners serving as the long-term exclusive financial advisor. The funds will be used for factory construction, R&D, and customer base expansion. —36Kr
- Pro Immune, a biotechnology company, has raised an eight-figure RMB sum in a pre-Series A round of financing. The round was led by Xinghua Dingli Venture Capital, with XHVC also participating. The funds will be used for further development and clinical research of its products, market development, and the construction of research and production bases. —36Kr
- Naxeon, a new energy two-wheeler developer, has secured an eight-figure RMB sum in a Series A funding round. The investors include JZ Capital and Nanning Technology Innovation Investment. The funds will primarily be used for product R&D and market promotion. —36Kr
- JoinAI, a synthetic data generation company, has secured an eight-figure RMB sum in an angel round of financing, exclusively invested by Tisiwi. —36Kr
Lenovo, Marketnode, Disrupt Technology Venture, and more led last Friday’s headlines:
- Lenovo signed a strategic collaboration framework agreement and a bond subscription agreement with Alat, a subsidiary of Saudi Arabia’s Public Investment Fund. As part of this deal, Alat has proposed a USD 2 billion investment in zero coupon convertible bonds.
- Marketnode, a Singapore-based digital market infrastructure company, announced the first close of its Series A funding round. HSBC led the investment, alongside contributions from existing shareholder Temasek.
- Disrupt Technology Venture, a venture builder and investor, announced the launch of the Disrupt Health Impact Fund in collaboration with leading Thai business groups. Among its initial partners for the new fund includes Digital Health Ventures (DHV), the innovation and venture arm of Samitivej Hospital Group, Thana Asset, Saha Pathana Inter-Holding (SPI), and Sripatum University (SPU).
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