Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.

The personal finance management app developer has filed for an initial public offering in Hong Kong, with InTime, JD.com and SIG in line for exits.

Reliance Industries has agreed to merge its digital music platform, JioMusic, with streaming service Saavn, investing up to $100m in the combined business.

Qualcomm, Huayi Brothers and Foxconn are set to exit the light-field imaging technology developer in a deal reportedly worth between $25m and $40m.

The local services platform is exploring an IPO in Hong Kong at a $60bn valuation, setting up Tencent, Priceline, Xiaomi, Fosun and Wanda for exits.

Naspers, which invested $32m in the internet group in 2001, three years before its IPO, will reduce its stake from 33.2% to 31.2%.

Existing investor Salesforce invested another $100m in a private placement, as the file storage platform floated above its range at an $8bn+ valuation.

Naspers' Tencent share sale and the legacy of investor Li Ka-shing indicate the capital generated in Hong Kong in recent years.

Appulse Power, a spinout from University of Toronto, has been acquired by Silanna Semiconductor for an undisclosed sum.

Vermouth brand Belsazar is the first portfolio company of Diageo-backed accelerator Distill Ventures to be acquired by the corporate.