Top ten highlights from the APAC PE, VC, and startup ecosystem this week:
- GoTo, an Indonesian tech conglomerate, announced its third-quarter earnings, showing a significant reduction in net loss and progress towards positive adjusted EBITDA.
- Saratoga, an Indonesia-listed investment firm, reported a net loss in the first nine months of the year, but plans to focus on renewable energy, healthcare, technology, and consumer sectors for a more sustainable portfolio.
- Zomato, a food delivery platform in India, posted its second consecutive quarterly profit, driven by increased food orders and demand for its quick-commerce business.
- Startups in Greater China raised $14.1 billion in venture capital funding in Q3, the second-highest on record, indicating a strong investment climate in the region.
- Kindercastle, an Indonesian daycare operator, is in talks with venture capital investors, including Golden Gate Ventures, to raise funding for the early education and parenting segment.
- PT Telkom Indonesia is considering selling a stake in its subsidiary PT Swadharma Sarana Informatika (SSI), potentially valuing the cash management firm at mid-double-digit millions.
- Tech in Asia, a technology media startup, has been acquired by SPH Media for a valuation of $30 million.
- VE Technology Group, a Singapore-based enterprise tech company, raised $22 million in funding led by Mox Capital.
- Health Management International (HMI) in Singapore is purchasing a majority stake in Harley Street Heart & Vascular Centre.
- GIC, Singapore’s sovereign wealth fund, acquired a 35% stake in Hotel Investment Partners (HIP) and sold its 49% interest in a Sydney-based shopping center.
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