Alibaba spinoff Koubei has joined forced with the corporate's newly acquired Ele.me, with more than $3bn from Alibaba and SoftBank.

The Gree Ventures and Salim Group-backed accelerator partnership will pay $30,000 for a 5% stake in each of its Indonesian participants.

On-demand car rental service Revv has secured $14.3m in a round led by carmaker and new strategic partner Hyundai.

Legend Capital has led a series A round for teahouse chain Gaga Cafe, which also attracted an unnamed industrial investor.

Fosun RZ Capital returned to back a $36.4m series B3 round for car services provider CassTime Technologies, bringing its total series B funding to $95m.

Alibaba's investment in Trendyol has been revealed to be a majority stake acquisition that valued the e-commerce marketplace at $750m.

KDDI, Sega Sammy, Aucfan, Japan Asia Group, Leave a Nest and Nihon Unisys are all backing the fund on its way to a projected close next month.

Latitude Venture Partners, a growth-stage venture capital affiliate of Sinar Mas, has raised $200m for its inaugural fund.

Ascenta spinoff Ascentage Pharma, which also counts 3SBio and Unity Biotechnology as backers, has filed to float having raised about $235m in funding.

Rakuten Ventures has co-led a $50m series A-plus round for e-commerce company Black Fish that also featured a Fullshare Group subsidiary.