News

OSK-SBI Venture Partners Ltd. (OSK-SBI) has on Wednesday announced the launch of its second venture capital fund to invest in category-defining companies across Southeast Asia. Active fundraising for Fund 2 is ongoing with the target to hit final close of capital commitments of $40 million.

Malaysian clean energy solutions provider Gentari Sdn Bhd (Gentari), a subsidiary of Malaysia’s Petronas Group, is collaborating with Finland-based electric vehicle (EV) charging business solution provider Virta through its subsidiary Gentari Green Mobility to expand the EV charging network across Southeast Asia.

To catalyze a viable blue finance market while fostering green bonds and supporting smaller businesses in Vietnam, International Finance Corporation (IFC) is providing a financing package of $150 million to Southeast Asia Commercial Joint Stock Bank (SeABank).

Total funding into Indonesia tech startups plunged 64 percent to $191 million in the first half of 2024, compared with $526 million in the first half of 2023, Tracxn said Tuesday.

Denmark-based investor Novo Holdings announced Tuesday that it has led an investment in AgNext Technologies Private Limited, an India-based agricultural and food technology company enhancing trust along the food chains by innovating artificial intelligence-based food quality assessment technologies.

Total funding into Vietnam Tech startups dropped 52.7 percent to $46.5 million in the first half of 2024, compared with $98.5 million in the first half of 2023, Tracxn said Tuesday.

Singapore-listed fintech and digital banking solutions provider Silverlake Axis Ltd. (SAL) has ventured into Cambodia through strategic partnership with Chip Mong Group, a Cambodian conglomerate.

Singapore-based fintech firm Atome Financial has secured up to $100 million growth debt facility from EvolutionX to drive profitable expansion in Southeast Asia.

FundPark, a Hong Kong-based fintech company, has closed an asset-backed securitization (ABS) facility of up to $250 million, of which HSBC will provide up to $200 million as the senior lender.

Malaysian information technology (IT) services firm Systech Bhd has partnered industrial-grade servers and storage solutions provider EH Integrated Systems Sdn. Bhd. (EISSB) to develop and operate data centers.