VENTURE debt provider, Genesis Alternative Ventures, has launched its second venture debt fund, with a target of US$150 million. About half of fund II’s target has been raised at the first close earlier in Aug. The first close had 80 per cent of fund commitments come from existing limited partners, Sassoon Investment, Aozora Bank, Korea Development Bank, Mizuho Leasing and …

HANOI — Vietnamese retail giant Masan Group has increased its stake in tea and coffee chain Phuc Long Heritage from 51% to 85% for 3.6 trillion Vietnamese dollars ($154 million). The Sherpa Co., a direct subsidiary of Masan Group, acquired around 10.8 million ordinary shares, equivalent to 34% equity interest, in Phuc Long Heritage. As a result, Masan’s equity interest …

MUFG Bank said it upgraded its view on Philippine economic growth in 2022 to 6.7% from 6.5% previously, citing stronger-than-expected performance in the first half. MUFG Bank analyst Sophia Ng, in a note issued on Monday, said the upgraded growth outlook was due to the “robust” 7.8% growth posted in the first half. “Given the robust 7.8% growth rate in …

GLOBE GROUP’s Globe Business on Wednesday said it is currently reaching out to more micro, small and medium enterprises (MSMEs) in the country to accelerate their digital transformation. “Globe Business seeks to go beyond the surface by helping MSMEs with innovations that accelerate business growth, expertise that guides businesses forward, and… care that supports their journeys, so they can achieve …

Since the start of the pandemic, the global supply chain has undergone — and is undergoing — immense strain. As of late last month, there were more than 300 ships in China waiting to load up and head to the U.S., Cargomatic’s Weston LaBar told NPR’s Marketplace. Meanwhile, warehouse space remains at a premium. Experts expect that it’ll be years …

HANOI — Vietnam business-to-business (B2B) e-commerce startup Telio is looking to raise between $50 million and $60 million in a new funding round, according to sources. A private equity investor is leading the round, one of the sources said. The lead investor will join as a new backer in Telio. Telio founder Bui Sy Phong started the company in 2019 …

ARTIFICIAL INTELLIGENCE (AI) and efficient data management in business operations will boost the Philippine financial technology (fintech) industry, according to AI-powered platform Provenir. “The pandemic and its restrictions caused a huge generational spike in the eruption of digital services and has demanded that businesses adapt themselves at a very high speed,” said Provenir General Manager for Asia-Pacific Bharath Vellore. Firms …

CEBU, Philippines — Singapore-based venture capital firm Insignia Ventures Partners has filed with the U.S. Securities and Exchange Commission to raise its third fund, which will likely make early-stage tech investments in Southeast Asia. The filing, signed by Insignia’s founding managing partner, Yinglan Tan, did not specify the target size for Insignia Ventures Partners Fund III. A Deal Street Asia …

HANOI — Atlas Capital, a climate technology venture capital firm founded by Southeast Asia-based French entrepreneur Djoann Fal, is aiming to raise a $10 million debut fund that it expects to grow to $50 million over time. Atlas Capital is a so-called angel investor syndicate that allows retail investors to participate in climate tech funds. Th community currently has over …

HANOI — Malaysia-headquartered private equity firm Navis Capital Partners has launched an Asia credit platform, Navis Asia Credit, and roped in BlackRock’s Asia credit business executive, Justin Ferrier, as its managing partner to spearhead the new unit. Ferrier was a managing director at U.S. investment giant BlackRock from 2016, where he sat on the private credit investment committee and helped …