Acquisitions and Investments Summarized: Basil buys AlteriQ Global, Empower purchases Cashalo in the Philippines, Taiwania Capital funds TransferGo, and additional deals announced

Headline: Global Investments and Acquisitions Shape the Financial Landscape

In the dynamic world of finance, several significant developments have taken place recently. Here's a roundup of some of the most noteworthy news:

9Basil Group Enters Private Credit Market

9Basil Group, a Thailand-based alternative investments firm, has made a strategic move into the private credit market with the acquisition of AlteriQ Global, a Singapore-based private credit financier. This acquisition marks a significant boost for AlteriQ, with a reported USD 50 million capital injection. However, the management of Capital One following the acquisition remains undisclosed.

ModelBest Secures Funding

ModelBest, a Beijing-based large model technology company, has secured a substantial amount in a new funding round. Primavera Capital Group and Huawei's Habo Investments led the round, but the exact sum raised has not been disclosed.

AlteriQ Offers Customized Debt Financing

Founded in 2020, AlteriQ Global offers customized debt financing solutions to small and medium enterprises in the Asia Pacific. The company's acquisition by 9Basil Group is expected to expand its reach and influence in the region.

Funding Rounds for Various Startups

Arrivae, a Mumbai-based home furnishing and interior design startup, has raised INR 210 million (USD 2.5 million) in equity funding from Mithun Sacheti (CaratLane).
CNV, a Vietnamese cloud-based business and marketing solutions provider, secured USD 1 million in a seed funding round from Wavemaker Partners.
Aviom India Housing Finance, a Delhi-based housing loan solutions provider, has raised USD 10 million in debt financing from BlueOrchard Microfinance Fund.
Garden of Joy, a Bengaluru-based landscaping startup, has raised INR 8.4 million (USD 100,750) in a seed funding round led by Inflection Point Ventures.
Butterfly Learnings, a Thane-based pediatric health platform, has raised INR 320 million (USD 3.8 million) in a Series A funding round led by Insitor Impact Asia Fund II and Enzia Ventures.
Zhiguang Electric, a technology enterprise specializing in energy control and management solutions, has completed a new funding round, raising a sum totaling RMB 700 million (USD 96.7 million).
Zymo Biotech, a Wuhan-based synthetic biology company, has bagged an eight-figure RMB sum after completing consecutive Series A and A+ funding rounds.
Hisun SuliKang, a developer of health and medical foods, has raised an eight-figure RMB sum in a new funding round from Zhandao Capital.
Genesis MedTech, a developer of an open innovation platform for medical technology, has announced the completion of a new funding round, securing a nine-figure RMB sum.

Acquisitions and Expansions

Empower Finance has reached a definitive agreement to acquire Petal, a New York-based consumer credit card and fintech company. This acquisition gives Empower Finance a strategic foothold in the Southeast Asian credit market.
Empower Finance, through its acquisition of GroupMe, a consumer credit and lending company based in the Philippines, is poised to expand its presence in the Asia Pacific.
Aion, an electric vehicle manufacturer under GAC Group, has cumulatively raised over RMB 20 billion (USD 2.7 billion), securing investments from SCGC, China Structural Reform Fund, and PICC Capital, among others.
TransferGo, a UK-based online money transfer platform, has raised USD 10 million from Taiwania Capital, a venture capital firm in Taiwan. This investment aims to accelerate TransferGo's growth in the Asia Pacific and expand its product range.
Kuaizi, a generative artificial intelligence video platform, has secured RMB 50 million (USD 6.9 million) in a Series B1 funding round from GSR Ventures, Haizhu City Construction Development Group, Minghui Yide, and Hainan Bixin.
AutoNxt, an electric tractor developer, has raised USD 3 million (INR 240 million) in a Pre-Series A funding round led by Saama Capital.
Cornerstone Ventures, headquartered in Mumbai, launched its second investment vehicle, targeting a corpus of USD 200 million, including a greenshoe option.
Mindverse, a Singapore-based artificial intelligence technology startup, raised USD 5 million in a seed funding round led by Square Peg.
Yupan Technology, a Tianjin-based company specializing in automotive chassis control technology, has raised nearly RMB 100 million (USD 13.8 million) in cumulative seed and angel funding rounds.

Notable Achievements

According to TechCrunch, TransferGo's valuation has doubled after achieving profitability in 2023 and has experienced a 50% increase in revenue.

Iplus Mobot Technology, a mobile robotics solutions provider, has received around RMB 20 million (USD 2.7 million) in a capital infusion by Supcon.

These investments, acquisitions, and achievements underscore the vibrant and ever-evolving landscape of the global financial sector. As these companies continue to grow and innovate, we can expect to see even more exciting developments in the near future.

Acquisitions and Investments Summarized: Basil buys AlteriQ Global, Empower purchases Cashalo in the Philippines, Taiwania Capital funds TransferGo, and additional deals announced