China-based coworking operator naked Hub plans HK IPO | #VentureCanvas

Clare Jim | DealStreetAsia – IPO


Shanghai-based coworking space startup naked Hub said on Friday it plans to go public in Hong Kong after a fresh round of fundraising next year, potentially adding more Chinese “new economy” companies to the Asian financial hub’s stock exchange.

Hong Kong is hoping to lure future listings by Chinese technology startups away from New York and Shenzhen. ZhongAn Online Property & Casualty Insurance Co went public in September, raising $1.5 billion in the biggest ever IPO by a financial technology firm in Asia.

Naked Hub, backed by Hong Kong private equity firm Gaw Capital, said it expects to close its third financing round of up to $200 million by the end of this year.

“A few years down the line we’ll go public…probably in Hong Kong,” Grant Horsfield, founder and chairman of naked Group, the parent of naked Hub, said in an interview.

“There will be a D-round (fundraising) at some point next year, but that’ll be the final amount we’re raising until we go public.”

The company said it was too early to give an estimate of the size of the offering at this stage.

The startup is currently the largest coworking operator in Shanghai and is also present in over 35 locations across Asia.

It is aiming to benefit from the new “sharing economy” and growing office demand from startups.

In China, real estate developers and financial investors are capitalizing on fast-rising demand, as Beijing encourages startups and small businesses in a bid to offset slowing growth in a traditional industries.

Naked Hub announced in July a merger with Singapore’s JustCo to take on major rival WeWork by creating Asia’s largest premium co-working space operator.

U.S.-based WeWork set up a Chinese unit in July, with a $500 million investment from China’s Hony Capital and Japan’s SoftBank Group Corp, and said it would invest $500 million in Southeast Asia and South Korea.

WeWork, valued at about $16.7 billion in a funding round last year, has said it will launch an IPO in the future.

Also Read:

Co-working startup JustCo raises $12m from Thai property developer

China: Co-working space operator UrWork raises $179m in pre-Series C funding

Reuters

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Singapore: MAS eases rules for VC managers to boost start-ups’ access to capital | #VentureCanvas

Pramugdha Mamgain | DealStreetAsia – VC


The Monetary Authority of Singapore (MAS) on Friday announced a simplified regulatory regime for managers of venture capital funds (VC managers) with immediate effect to boost start-ups’ access to capital.

The new regulatory regime will simplify and shorten the authorisation process for VC managers, MAS said in a press statement. The new framework comes into place following public consultation on the proposal put forward by MAS earlier this year.

Lee Boon Ngiap, Assistant Managing Director, Capital Markets, MAS, said, “The simplified VC manager regime recognises the lower risks posed by VC managers given their business model and sophisticated investor base. It will enhance the operating environment for VC managers to play a greater role in supporting start-up and growth stage businesses.”

As part of the new framework, MAS will no longer require VC managers to have directors and representatives with at least five years of relevant experience in fund management. VC managers will also not be subjected to the capital requirements and business conduct rules that currently apply to other fund managers, the statement said.

MAS will also retain regulatory powers to deal with errant VC managers, it added.

The simplified regulatory regime takes into account the extent of contractual safeguards that are already present in typical contracts negotiated by VC managers’ sophisticated investor client base, MAS said.

As per the new regime, a VC manager has to manage funds that meet the following characteristics:
(a) invest in business ventures that are not listed on a securities exchange;
(b) invest at least 80% of committed capital in securities that are directly issued by start-ups that are no more than ten years old;
(c) units of the funds are not available for new subscription after the close of fund-raising, and can only be redeemed at the end of the fund life; and
(d) are offered only to accredited and/or institutional investors.

Also Read:

Singapore: MAS to consider targeted cryptocurrency regulation as market matures

Singapore to ease venture capital rules to boost startup funding

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Source: Singapore: MAS eases rules for VC managers to boost start-ups’ access to capital

XRP Price Notes a Small Gain but Reaching $0.25 Will be Very Difficult | #VentureCanvas

JP Buntinx | The Merkel


TheMerkle XRP Price 0.25

Things are pretty much at a standstill in the world of cryptocurrency right now. None of the top cryptocurrencies is making any sort of gains or losses right now. It is true some currencies are struggling slightly, but there is nothing to be concerned about whatsoever. The Ripple price is trying to regain some of yesterday’s losses, although that is much easier said than done, to say the very least.

XRP Price Wants to Reclaim $0.25

A lot can change in the world of cryptocurrency without any real reason behind it. Just a few days ago, it appeared as if the XRP price would finally hit $0.30 again. Those dreams were quashed pretty quickly, as the XRP price started dropping pretty quickly. At one point, the XRP price almost broke the $0.20 support, but things never escalated to such a degree. That doesn’t mean we are out of the woods just yet, though.

There is one positive sign on the horizon for the XRP price. While nearly all currencies in the top 10 are at breakeven or losing value, the XRP price is actually going up. Although the gain is very small and will be ignored by most people, it seems we may see the XRP price head back to $0.25 in the coming days. Right now, one XRP is valued at just $0.215, which leaves plenty of room for growth.

Whether or not that growth will effectively materialize, remains a big question for the time being. It is certainly possible we will see another leg down before the XRP price can even mount any sort of comeback toward $0.25. The markets are pretty volatile right now, even though Bitcoin looks rather solid for the time being. Whenever there is a lull in volatility, speculators will make their move in either direction. It is certainly possible we will see XRP drop to around $0.17 or lower, given the current market conditions.

For the time being, however, things look pretty decent for XRP. Thanks to this 1.5% value gain over the past 24 hours, we also see an increase in trading volume once again. With just under $310m worth of volume, the demand to trade XRP is certainly there. Whether or not there is enough support to keep the price level or note future gains, remains to be determined. A retrace often leads to higher values, but no one ever knows where the bottom of a retrace is situated.

The vast majority of XRP trading volume comes from the South Korean exchanges once again. Bithumb, Coinone, and Korbit are all in the three, although Bithumb clearly has the lead. Their -hour volume is almost $100m higher compared to Coinone and $120m higher than Korbit. No one comes even close to these numbers by any means. This seems to confirm there will be a lot more XRP price volatility throughout the rest of the day and the weekend.

A lot of people are wondering about when to buy into XRP. Right now seems to be an opportune moment, but with the markets in their current state, there is no reason to overbuy anything either. It seems a given the XRP price will retest that $0.20 mark sooner or later, which is a pretty solid point of entry for the time being.  Always do your own research before committing to any sort of trading activity, though.

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Source: XRP Price Notes a Small Gain but Reaching $0.25 Will be Very Difficult

Sprynter solves package problems | #VentureCanvas

Sabine de Witte | Startup Juncture


After losing a bet, Constantijn van Nispen had to send its friend abroad a special bottle of rum. Packing and sending this via a parcelshop turned out to be such a hassle, he decided to quit its marketing job at Heineken and start his company Sprynter.

Send and pack your (return) packages

Sprynter is the first Dutch app to enable small companies and individuals to easily send a package. Just take a photo of the item you want to send, and a couriers will pick it up at your door. Sprynter can even pack it. It’s the business solution for those who send packages occasionally, but don’t want the hassle of it. Busy entrepreneurs, small webshops or communication agencies often waste time finding a fitting box or standing in line at the post office. Sprynter takes care of everything, including searching for the lowest price to send your particular package.

Sprynter could also save time and hassle for individuals. Regular eBay or Marktplaats sellers can have their items picked up, packed and shipped with a few taps in the app. Also, online shoppers can now return their unwanted items without leaving their houses.

Business model

For €4,09 (ex VAT) a courier will come to your office, shop or home. Large or fragile items are picked up by a 100% electric minivan, and for regular packages a cargo bike is used. The couriers bring the items to the Sprynter warehouse, where they will be packed professionally, starting from € 2,44. ‘Think inside the box’, as they like to call it.

Sprynter then compares shipping fees among different carriers (PostNL, DHL, etc.) for your specific package, and selects the best option for you. For instance, the lowest price to send a standard parcel within the Netherlands is €4,75 ex VAT. Sprynter then hands over your package to the carrier, and users receive the tracking number and invoice via email.

Currently, the pick-up service is only available in Amsterdam. You can download the iPhone app in the App Store via https://goo.gl/SKZdba and Android or desktop users can call or Whatsapp 0652095156 to arrange a pick-up.

Future growht plans

In 2018 Sprynter will scale up in three ways: introducing its app for Android users, bringing a new feature to have items picked-up and instantly delivered within the same city, and thirdly launching in Den Haag, Rotterdam and Utrecht.To roll this out, Sprynter is keen to talk to investors, especially with logistic expertise.

Many startup initiatives are executed as problem solving for personal struggles or bureaucratic hurdles. Packaging is still a big thing and many companies have tried to come up with a solution for delivery. This is an original take-out for package pick-ups, where big webshops like Zalando already experiment with themselves. Let’s keep a close eye on this!

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Why Strong Vision is the Secret Ingredient of Successful Founders | #VentureCanvas

Alex Iskold | AlleyWatch


One of the questions investors like to ask the founders is – What is your vision? While seemingly cliché and qualitative, the question of vision is really important. After working with more than 80 founders, I believe that the ability to articulate a strong and clear vision is the leading indicator of success for the early […]

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Source: Why Strong Vision is the Secret Ingredient of Successful Founders

Comet Raises €2M in Seed Funding | #VentureCanvas

FinSMEs | FinSMEs


Comet, a Paris, France-based on-demand marketplace connecting freelancers with companies, raised €2m in seed funding. Backers included Otium Capital and Kima Ventures. The company intends to use the funds to further develop the marketplace, continue to build its community of tech & data freelancers, and expand in France and other European countries. Founded in 2016 […]

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Source: Comet Raises €2M in Seed Funding

Moovenda Receives Investment from Ciro Immobile | #VentureCanvas

FinSMEs | FinSMEs


Moovenda, a Rome, Italy-based food delivery startup, received an investment from SS Lazio and Italian national team striker Ciro Immobile. The amount of the deal was not disclosed but it is know that the funding is part of a larger round, which will be announced soon. For Immobile, a customer of the company himself, this […]

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Source: Moovenda Receives Investment from Ciro Immobile

Berlin-based startup behind the math learning app Math42 just got acquired for €20 million | #VentureCanvas

Thomas Ohr | EU-Startups


The US-based learning platform Chegg today announced that it has acquired the Cogeon GmbH, a provider of adaptive math technology and developer of the math app Math42.

Founded in 2013, the Berlin-based Cogeon GmbH was founded by a family of expert chess players and exceptional mathematicians with deep technical expertise. Cogeon’s math technology is rooted in a unique combination of mathematical, technological and didactical frameworks. Math42 provides a proven math learning system which optimizes individual math learning pathways for learning and solving math problems and exercises.

With this acquisition, Chegg will be able to provide self-guided and individualized math solutions to more students, deepening their reach in to the high school market.

Chegg has acquired Cogeon for €12.5 million in an all-cash transaction with potential additional payments of up to €7.5 million, payable in cash or stock in the discretion of Chegg, and up to €3.2 million in restricted stock units over the next three years that remain subject to contingencies. As a result of this acquisition, Chegg does not expect any material effect on operations for 2017.

Nathan Schultz, the Chief Learning Officer of Chegg stated: “Math is a major pain point for students today. The technology we have acquired enhances our ability to tackle math deficiencies with tools that are self-guided, personalized, and on demand, better preparing students for success both in and out of the classroom. And the Cogeon team, led by a family of world-renowned mathematicians, will work with us to develop best-in-class products to improve how students learn complex math concepts.”

Math deficiency is a large-scale issue that is pervasive in both education and workforce preparedness in the United States. With this acquisition, Chegg will leverage Cogeon’s unique A.I.-driven math technology to enhance current capabilities inside Chegg Study and expects to launch an integrated new product, Chegg Math, in the second half of 2018.

Thomas Nitsche, Co-Founder of Cogeon, commented: “We started our company with a desire to help the world solve and understand math. Cogeon and Chegg share like-minded missions to bring students innovative, responsive tools that help improve their learning experience. By joining Chegg, we’re able to deliver an important educational technology to millions of students to help them better understand their course material and give them needed skills to compete in the workforce.”

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Source: Berlin-based startup behind the math learning app Math42 just got acquired for €20 million

Vedanta Group’s Anil Agarwal To Float $1 Bn Venture Capital Fund For Startups | #VentureCanvas

Meha Agarwal | Inc42


Anil Agarwal, the founder, and chairperson of Vedanta Group is set to launch a $1 bn venture capital fund to invest in startups. Reportedly, the fund seeks to invest majorly in potential startups operating in the space of natural resources. It is probably the first natural resources-focused venture fund established by an Indian industrialist. Anil […]

The post Vedanta Group’s Anil Agarwal To Float $1 Bn Venture Capital Fund For Startups appeared first on Inc42 Media.

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Source: Vedanta Group’s Anil Agarwal To Float $1 Bn Venture Capital Fund For Startups

From 3D Body Scanning To Intelligent Hologram Shopping Assistants: 9 AI Retail Startups To Watch | #VentureCanvas

Natan Reddy | CBInsights


AI is quickly infiltrating the retail industry, with commerce ranking as one of the top categories for deals to AI startups over the last few years.

Companies large and small are developing and implementing AI-powered technology in order to automate, customize, and track the consumer experience online and off. 

Corporates are making big moves to incorporate AI and machine learning to power in-store operations.

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Source: From 3D Body Scanning To Intelligent Hologram Shopping Assistants: 9 AI Retail Startups To Watch

 

McKay Brothers Receives Minority Investments | #VentureCanvas

FinSMEs | FinSMEs


McKay Brothers, a market leader in low latency networks, received investments from Susquehanna International Group and XR Trading. The amount of the deal was not disclosed. Under the terms of the agreements, McKay’s founders will continue to control the McKay companies, holding over 70% of the equity. Susquehanna and XR join IMC and Tower Research […]

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Source: McKay Brothers Receives Minority Investments

Indonesia: Trading of Kioson shares suspended for second time this week | #VentureCanvas

Antonia Timmerman | DealStreetAsia – IPO


The trading of shares and warrants of Indonesian O2O e-commerce startup Kioson was suspended on Friday, October 20, for the second time in a week due to a significant cumulative price hike. Previously, the Indonesia Stock Exchange (IDX) had suspended trading in Kioson’s shares on Tuesday, October 17.

“In relation to a significant hike in cumulative price for Kioson’s shares, IDX sees the need for a temporary suspension of the trading of shares and warrants in regular and spot markets,” Irvan Susandy, IDX spokesperson, said in a statement.

Kioson debuted on the stock exchange on October 5 at IDR 450 (US$0.03). It closed Thursday at IDR 3,310 (US$ 0.244), or surged 6.3 times in two weeks. The shares had been oversubscribed 10 times during the bidding period.

Kioson is often compared to Kudo, its direct rival in Indonesia, which was bought by Grab for $100 million. The startup provides an online digital platform to small- and medium-sized retailers, helping them conduct digital transactions with big companies in urban areas.

Last week, Kioson announced the closing of the acquisition of Narindo Solusi Komunikasi, an affiliated tech company focusing on e-voucher aggregation as part of a post-IPO deal.

With the acquisition, Kioson targets a revenue growth of 1,900 per cent year on year to Rp 500 billion by the end of 2017.

Also Read:

Indonesia listed startup Kioson closes post-IPO Narindo acquisition deal

Indonesia: M Cash Integrasi fixes IPO price at Rp 1,385; PAG Capital, Maybank Asset among anchor investors

Indonesia: Crowdfunding startup Danadidik raises seed round from impact fund

Indonesia: Salim-Lotte launch $100m e-commerce JV; GMF AeroAsia lists on IDX

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When $100BN is not enough… Softbank is planning Vision Fund sequels | #VentureCanvas

Natasha Lomas | TechCrunch


 Softbank looks to be preparing follow on raises to its first ~$100BN Vision Fund. Speaking to Nikkei today CEO Masayoshi Son said: “The Vision Fund was just the first step, 10 trillion yen is simply not enough… Read More

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Source: When $100BN is not enough… Softbank is planning Vision Fund sequels

Let CrunchMatch curate your Disrupt Berlin experience | #VentureCanvas

Mike Butcher,Leslie Hitchcock | TechCrunch


 TechCrunch Disrupt events are famous for attracting the best and brightest minds the tech world has to offer. This December, Disrupt Berlin will be rife with opportunity both for startup founders and venture capitalists. The tricky bit is finding the right fit amidst hundreds of companies and thousands of attendees. That’s why we created CrunchMatch. Read More

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Source: Let CrunchMatch curate your Disrupt Berlin experience

75+ Cybersecurity Startups Protecting The Future Of Connected Enterprises And Critical Infrastructure In One Market Map | #VentureCanvas

William Altman | CBInsights


Enterprises ranging from banks to nuclear energy facilities are leveraging the proliferation of internet of things (IoT) devices to connect employees, gather real-time data on critical infrastructure, and more. In tandem, the explosion of enterprise connected devices creates unique security challenges.

As security vulnerabilities increase, startups are rising to meet the demand for more resilient connected enterprise security.

The basic elements of enterprise security are two-fold: securing information technology (IT) and operations technology (OT).

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Source: 75+ Cybersecurity Startups Protecting The Future Of Connected Enterprises And Critical Infrastructure In One Market Map

 

China hires 10 banks for its $2b dollar-denominated sovereign bond issue | #VentureCanvas

Sumeet Chatterjee | DealStreetAsia – IPO


China has hired 10 banks including Agricultural Bank of China Bank of Communications, and Citigroup for its $2 billion dollar-denominated sovereign bond issue, according to an internal bank memo seen by Reuters on Friday.

Besides Citigroup, other foreign banks hired by the People’s Republic of China (PBOC), acting through the Ministry of Finance, for the issue are Deutsche Bank, HSBC , and Standard Chartered, the memo showed.

Bank of China, China Construction Bank , China International Capital Corp, and Industrial and Commercial bank of China will also be working on the transaction.

Due to its scarcity, the bond is expected to see strong investor demand despite downgrades of China’s sovereign credit rating this year by S&P Global Ratings and Moody’s Investors Service. Both agencies cited increasing risks from the country’s rapid build-up of debt.

But the bond sale will test if the rating agencies’ actions would increase borrowing costs for institutions in the world’s second-largest economy.

China’s central bank chief on Thursday issued a warning about asset bubbles in the economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending.

The finance ministry said earlier this month that the issue will consist of $1 billion of five-year bonds and $1 billion of 10-year bonds.

Thomson Reuters publication IFR said that the issuance, if completed, would be China’s first dollar bond offering since October 2004, and that the sovereign bond will be issued in the second half of this year.

The memo said the banks hired for the bond issuance would arrange a meeting with fixed-income investors in Hong Kong on Oct. 25.

Also read:

China’s big four banks raise billions for Belt and Road deals

China Tower invites banks to pitch for up to $10b HK IPO

Reuters

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Source: China hires 10 banks for its $2b dollar-denominated sovereign bond issue

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