Indonesia's conglomerates are expected to provide the cash for the fund this year, according to information and communcations technology minister Rudiantara.

Shanghai La Chapelle Fashion will own 54% of the online women's fashion retailer once a $32m deal is completed.

The printing services company secured the funds from backers including Opt, Dentsu, Link and Motivation, Gree and Itochu as it looks to expand internationally.

China-based online education platform HuJiang has secured $100m from search engine Baidu.

The India-based e-commerce company, backed by a range of corporates including Softbank, Ebay and Intel, is set to secure $400m from new investors.

Times Internet-backed media company News in Shorts, developer of a news digest app, has secured $4m in a round led by Tiger Global.

Revealed last week to be in discussions for a merger, the two companies have confirmed that they have agreed on the deal.

Softbank and Alibaba-backed Kuaidi Dache and Tencent-backed Didi Dache are considering a merger, in a deal that would cover a 95% share of the ride-sharing market in China.