The smart car joint venture between Alibaba and SAIC Motor, has closed its first funding round with the support of SAIC’s investment management arm Shangqi Capital.

The Tencent, Baidu, Lenovo and JD.com-backed electric carmaker floated near the foot of its range at a reported $6.4bn valuation.

Sistema Asia Fund and Vertex Ventures co-led a $30m series C round for buy now, pay later service Kissht that included existing investor Fosun.

The Tencent-backed local services portal has priced the offering near the top of its range at a valuation of about $52bn.

Fave, the loyalty and rewards platform formerly known as Groupon Singapore, has secured series B funding from investors include SIG Asia.

Bertelsmann Asia Investments and IDG Capital provided the funding for AI-based data management platform developer Ringle.

The online travel booking platform is in talks to invest $100m as part of a $400m round that will value the restaurant listings platform at up to $2bn.

Tencent has led a $100m series D round for fantasy sports company Dream11, a deal that was first rumoured in April this year.

Aldi Adrian Hartanto has departed from Mandiri Capital after two years to take up a position at another Indonesia-based corporate venturing unit.