Asia

Gaming in Asia may be crypto’s killer decentralized app

As money and talent flows into the crypto and blockchain worlds, a persistent question keeps coming up: what is going to be the “killer app” that drives adoption for these nascent technolo

Sino-US investment firms are targeting over $4 billion for new funds launched this year

As limited partners increasingly demand greater exposure to emerging market opportunities, venture capital firms with a focus on Asia are bulking up their funds and chasing deals in an increasingly co

Messaging firm Line launches a dedicated crypto fund

Messaging company Line is continuing to burrow deep into the crypto space after it announced the launch of a $10 million investment fund. The fund will be operated by Line’s Korea-based blockcha

Asian investors have plenty of cash, a hearty appetite for investments and a different approach to doing deals

If you’re being courted by Asian investors, you’ll need to adjust the VCs’ expectations. That can be a challenging task when the parties have different perspectives on appropriate management sty

Chinese internet giant Tencent suffers a rare profit drop

Tencent, Asia’s most valuable tech firm, delivered a surprise drop in profit on account of lower investment gains. The firm recorded strong growth with revenue up 30 percent year-on-year to reac

Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia

Uber agreed to sell its Southeast Asia business in March, but it isn’t leaving the region. In fact, the U.S. firm is literally doubling down with plans to more than double its staff in Singapore

Y Combinator is launching a startup program in China

U.S. accelerator Y Combinator is expanding to China after it announced the hiring of former Microsoft and Baidu executive Qi Lu who will develop a standalone startup program that runs on Chinese soil

Chinese Tesla rival Nio files to raise $1.8 billion in US IPO

Tesla may be looking to go private, but Chinese rival Nio is going the other way after it filed to raise $1.8 billion in an IPO on the New York Stock Exchange. Nio was started in 2014, initially as N

Singapore’s Openspace Ventures closes new $135M fund for Southeast Asia

It seems like everyone is out there raising new funds in Southeast Asia. Weeks after we reported Golden Gate Ventures hit a first close on its third fund aimed at $100 million, so Openspace Ventures &

China’s Didi beefs up its newly-independent car services business with an acquisition

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the

WeWork China rival Ucommune raises $43.5M more at a $1.8B valuation

Barely weeks after WeWork China raised $500 million, one of its main rivals is refueling its tanks too. Ucommune — the company formerly known as UrWork until a WeWork lawsuit forced a rebrand &

Observe.AI raises $8M to use artificial intelligence to improve call centers

Being stuck on the phone with call centers is painful. We all know this. Observe.AI is one company that wants to make the experience more bearable, and it’s raised $8 million to develop an art

Tencent spinoff China Literature to buy New Classics Media for $2.2B in content consolidation play

As the consumer appetite for digital entertainment in China continues its rapid growth, two companies are combining forces to step up their game in the space. Today, China Literature — the Tence

India’s budget hotel network OYO moves into wedding banquet services

OYO Rooms, the India-based budget hotel network that’s backed by SoftBank’s Vision fund, has prioritized expansion into China this year but that’s not all it’s up to. Back hom

Three Indonesian tech unicorns unite to back digital insurance startup

It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia. Ride-hailing company Go-Jek, e-commerce firm Tokopedia and tr

Grab-Uber deal wins Philippines approval but ‘virtual monopolist’ concern remains

Grab’s acquisition of Uber’s Southeast Asia business in May has been embroiled in regulatory scrutiny, but the ride-hailing firm has some positive news after the Philippines’ regulat

Qualcomm settles antitrust case in Taiwan

Qualcomm may have lost its long-winded deal to buy NXP on account of China and it continues to battle lawsuits worldwide, but the company does have a dose of good news out of Asia today after it sett

Neat is a challenger bank for early-stage startups and SMEs

With the growth in cross-border payment services and ‘challenger’ bank cards for consumers, you’d be forgiven for wondering where the options are for small business — where cas

Musical.ly investor bets on internet radio with $17M deal for Korea’s Spoon Radio

One of the early backers of Musical.ly, the short video app that was acquired for $1 billion, is making a major bet that internet radio is one of the next big trends in media. Goodwater Capital, one o

Sequoia India and Accel back on-demand scooter startup in $12.2M deal

Two of India’s most prominent VCs are backing a motorbike on-demand service after Sequoia India and Accel led a $12.2 million investment in Metro Bikes. Sequoia India and Accel were joined in th
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