Hanwha, Naver and Mitsui Fudosan all chipped in as the Southeast Asian venture firm closed an oversubscribed third fund.

A purchase of Careem, which is currently being touted at between $2bn and $2.5bn, would allow Didi Chuxing, Rakuten, Daimler, Saudi Telecom and Al Tayyar to exit.

Tencent came on board as a Tuhu investor and strategic partner in a series E round that followed a Baidu-backed round two years ago.

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.