Mitsubishi UFJ Financial Group led a $400m round for non-banking finance provider DMI Finance while Haima Automobile helped electric taxi producer Itbox raise $145m.
Fund
Hong Kong-based cryptocurrency-focused investment fund ProDigital Future Fund has secured at least $30m from limited partners including financial services firm Sunwah Kingsway Capital Holdings for the first close of a fund with a $100m close, Bloomberg reported. Its backers also include an entity known as Golin International Group.
Public markets
Keep, a China-based fitness training app backed by media group Bertelsmann, teleommunications and internet company SoftBank and internet group Tencent, has filed for an initial public offering on the Hong Kong Stock Exchange. The company was valued at about $2bn in its last round, a $360m series F in early 2021. It had previously filed for Hong Kong flotations in January and September 2022 only for those applications to lapse.
Funding
Mitsubishi UFJ Financial Group led a $400m equity funding round for India-based digital lending platform DMI Finance through subsidiary MUFG Bank. The round was made up of primary and secondary funding and also featured fellow financial services firm Sumitomo Mitsui Trust Bank.
| Company | Company description | Sector | Country | Round | Round size($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Itbox | Electric taxi manufacturer | Transport | China | N/A | 145 | 30/03/2023 | Haima Automobile; Zhongyu New Energy Vehicle Industry Fund, Henan Intelligent Connected New Energy Vehicle Development |
| Cardinal Operations | Decision-making software provider | IT | China | C2 & C2+ | 72.8 | 31/03/2023 | Guokai Manufacturing Transformation; Yue Xiu Enterprises (Yuexiu Industrial Investment Fund), Upgrading Fund |
| P97 | Automotive fuel payment app provider | Transport | US | C | 40 | 30/03/2023 | Accenture (Accenture Ventures), FleetCor; Portage (lead), Emerald Technology Ventures |
| Horizon Quantum Computing | Provider of quantum computing software technology | IT | Singapore | A | 18.1 | 02/04/2023 | Tencent; Sequoia (Sequoia Capital India), SGInnovate, Pappas Capital, Expeditions Fund |
| Greentank Technologies | Vaping product manufacturer | Consumer | Canada | B | 16.5 | 31/03/2023 | Organigram Holdings, undisclosed others |
| Rob’s Backstage Popcorn | Popcorn brand | Consumer | US | A | 7 | 30/03/2023 | Hershey, United Talent Agency (UTA Ventures); Palm Tree Crew (lead), Priyanka Chopra Jonas, Ryan Tedder, David Grutman, Mindy Kaling, Joe Haden, Glen Powell |
| Naturobot | Developer of robotic process automation technology | IT | China | Pre-A | 7 | 30/03/2023 | Sunyard; Shunwei Capital (lead), Picus Capital, Hillhouse, Eminence Ventures |
| System Shared | System development support platform | IT | Japan | B | 6.6 (updated) | 03/04/2023 | Invalance (Accel Lab); undisclosed others |
| Next Stage | Operator of IT analysis cloud platform QualiZ | IT | Japan | N/A | 1.5 | 03/04/2023 | Chugoku Electric Power Company; Innovation Engine (lead), Senshu Ikeda Bank (Senshu Ikeda Capital) |
| Boom Supersonic | Supersonic aircraft developer | Transport | Canada | N/A | N/A | 30/03/2023 | SMRT Corporation (Momentum Ventures) |
| TBM | Advanced plastic substitute producer | Industrial | Japan | N/A | N/A | 03/04/2023 | Greater Fukuoka |
| Milize | Cloud-based financial consulting platform | Financial | Japan | N/A | N/A | 03/04/2023 | Juroku Financial Group (Nobunaga Capital Village) |
