SK has provided $50m in funding for Ascend Elements while ServiceNow took part in a $35.6m series C round for Fairmarkit.

M&A

Equity management platform Carta has acquired Capdesk, a UK-based peer backed by Fidelity International Strategic Ventures, part of financial services and investment group Fidelity. The company had secured £11.7m ($13.5m) in total funding having most recently completed a $6.9m series A round in March 2021 co-led by Fidelity International Strategic Ventures.

Fund

China-based dairy product manufacturer Inner Mongolia Yili Industrial Group has formed a $100m private equity vehicle to back companies outside of its home country, according to a filing with the Shanghai Stock Exchange on Wednesday seen by Deal Street Asia. Hong Kong Jingang Trade Holding Company has secured a limited partner, YJLC, which is part of Yili Group’s Hong Kong Jingang Trade Holding Company subsidiary.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Ascend Elements Lithium-ion battery recycling and materials company Energy and Natural Resources US N/A 50 01/09/2022 SK (SK Ecoplant)
Fairmarkit Automated sourcing platform for goods and services Services US C 35.6 01/09/2022 ServiceNow; Omers Growth Equity (lead),…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.

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