PE, VC & Alternatives Archives - Page 8 of 25

Apeiron Bioenergy Raises S$50 million through an Investment Grade Green Bond, the First Bioenergy-Focused SGD Bond Issuance in Asia

Apeiron Bioenergy (“Apeiron“), a leading integrated global player in bioenergy, raised S$50 million on Friday, 23^rd June 2023, through the landmark issuance of a 5-year senior unsecured green bond guaranteed by Credit Guarantee & Investment Facility, a trust fund of the Asian Development Bank (“CGIF“), and an ASEAN+3 initiative to develop local currency bond markets.

Rated AA by S&P Global Ratings, the privately placed bond was well-received by investors and was oversubscribed despite a challenging macro environment. The green bond was issued at par and bears a coupon rate of 4.487% with HSBC as the sole lead manager.

The proceeds will be applied towards capital expenditure and asset improvement for collection points and pre-treatment facilities of waste-based feedstocks like used cooking oil (“UCO“) in the Philippines, Thailand, and Vietnam. The remainder will be used for general working capital requirements. The utilisation of proceeds will be guided by Apeiron’s Green Finance Framework endorsed by Sustainalytics, demonstrating the company’s commitment to integrating environmental, social, and governance factors into its operations.

UCO, one of Apeiron’s primary products, is one of the cleanest waste-based feedstocks for biofuel production offering the highest greenhouse gas emissions savings. It is a major feedstock for renewable biodiesel products like sustainable aviation fuel (“SAF“). As the SAF market is expected to grow at a compound annual growth rate (“CAGR“) of 42% in the next decade, the availability of feedstock emerges as a crucial bottleneck. Leveraging Apeiron’s robust network of suppliers across Asia, where the collection of waste-based feedstocks remains relatively untapped, the company is well-positioned to serve as the hub for the mass consolidation of waste-based biofuel feedstocks in the region.

Chris Chen, Co-founder of Apeiron Bioenergy said, “We are delighted by the overwhelming response to our green bond issuance supported by CGIF, which demonstrates strong investor confidence and our shared mission with the Asian Development Bank. This will allow Apeiron to expand our operations and maintain our position as a leader in the bioenergy sector. Building upon our operational and financial track record, we are fully committed to reducing reliance on fossil fuels and accelerating the growth of green energy.”

Mr. Hongwei Wang, Chief Executive Officer of CGIF stated, “We are pleased to support Apeiron in its inaugural green bond issuance which will certainly benefit them in diversifying funding sources to support its sustainable growth. The transaction showcases our commitment in promoting debut issuers and green bond issuances in ASEAN+3 region. The successful issuance of this bond also demonstrates market participants’ confidence in CGIF and its guarantee product.”

Sean Henderson, Co-Head of Debt Capital Markets, Asia-Pacific at HSBC said, “We are pleased to have supported this landmark transaction for Apeiron, the first ever SGD bond issuance from the bioenergy industry in Asia. This transaction highlights our commitment to support growth-stage companies that can facilitate the transition to a carbon-sustainable economy through increasing the availability of low-carbon alternative biofuels. The strong reception by investors also affirms the markets’ support for companies that can deliver solutions for the new economy.”

About Apeiron Bioenergy

Founded in 2007, Apeiron Bioenergy is an integrated global player in bioenergy products, spanning from feedstocks to end- and by-products. Headquartered in Singapore, the company operates refineries and collection points across 10 countries.

For more information, visitwww.apeironbioenergy.com.

For all media queries, please contact:
Kamal Samuel
Financial PR
T: 6438-2990
E: kamal@financialpr.com.sg

Erez Capital Announces the Addition of 40 Venture Partners and $10M Commitment

Erez Capital, a emerging venture capital fund investing in disruptive technologies, is thrilled to announce its addition of 40 Venture Partners to join the fund. These new partners will play an important role in the quickly developing artificial intelligence ecosystem – specifically in the proptech, medtech and fintech sectors.

“This is an exciting new chapter for Erez Capital, creating a new collaborative model to drive rapid acceleration and growth for pre-seed and seed-stage technology startup companies.” said Michael Benezra, Managing Partner.

As part of our commitment to pushing boundaries and driving transformation, Erez Capital has diligently sought out Venture Partners who share our vision and possess unique expertise in their respective fields. The addition of academic experts, research directors, private equity principals, venture capital partners, fund managers, CEO’s, attorney’s, investment bankers, startup founders, and experienced investors to our network significantly bolsters our capabilities, propelling us forward in achieving our ambitious goals.

VENTURE PARTNERS
– Omar Agely, Managing Partner Mandatory Ventures
– Garth Daniels, CEO Ensign Global Fund
– Kenneth Asher, CEO Kasher Capital
– Jonah Zahnd, Manager for Social Impact Investing Harvard Business School
– John Brice, Managing Partner Poseidon Capital Partners
– Lawrence Jen, Managing Partner Anderson Angels
– Andrew Cohen, VP YE Ventures
– Brandon Kortokrax, Venture Associate Moonshots Capital
– Pankaj Kedia, Managing Partner 2468 Ventures
– Jim Lewis, Managing Partner Freestone Group
– James Lubin, Partner Indigo Ventures
– Joe Mikhail, CEO YouVue
– Eric Mayo, Managing Partner Terra Incognita Capital
– Mohammed Nagda, Venture Partner, NexGen Venture Partners
– A.J. Noronha, Managing Partner, GX Ventures
– Mario Pazos, Managing Partner, Moana Capital
– Tyler Norkus, VP Ideanomics (NYSE:IDEX)
– Keena Pierre, Chief of Staff, Zane Venture Fund
– Brahm Pillai, Managing Partner Pillai Capital
– Deepak Ramanathan, Director of Capital Markets Regent L.P.
– Jeff Schell, CEO Prove
– Amari Smothers A.I and VC
– Dr. Aakash Saraiya, Physician Google Health
– Varun Sharat, Managing Partner Charybdis Capital Management
– Nick Sterlacci, Co-Founder OneDeal
– Tom Vollbrecht, Zion Bank
– Bryan Feinberg, CEO Zephyr Technology Ventures

Advisory Board
– Leonard Johnson, CEO Artificial Intelligence Economic Development Corp
– Dr. Cvic Innocent, CTO & Founder Estate Protocol
– Tim Ramdeed, Managing Partner Dharma Capital Partners
– Mike Berson, CEO Chainstarters
– Eugene Buff, EIR Northeastern University
– Steven Friedmutter, CEO SF Ventures

About Erez Capital

Erez Capital is a venture capital firm at the forefront of the AI and machine learning revolution. We are committed to accelerating innovation and breakthrough technologies. Through a collaborative approach to due-diligence, evaluation and venture investing – we aim to exit portfolio companies within 60 months.

Contact:
Noah Ente
Erez Capital
Noah@erezcapital.io

Society Pass Inc (Nasdaq: SOPA)/Gorilla Global Releases Its Next Generation Mobile Telecoms App Targeted at Travelers in Southeast Asia

Gorilla Global (Gorilla), the mobile telecommunications arm of Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the release of its next generation mobile telecoms app, offering a full suite of smart digital mobile communication solutions for travelers and working professionals in the SEA region.

Customers can now download Society Pass either on:

Apple Storeor
Google Play.

With the motto of “STAY CONNECTED, GET REWARDED”, Gorilla works with over 500 mobile operators across 190 countries, providing affordable roaming mobile data to business travelers in the SEA region and around the world through its proprietary e-SIM product. Embedded in the user’s mobile phone as a virtual SIM card, which eliminates the need for a physical SIM card, e-SIM technology offers the convenience of managing multiple cellular providers on a single device for traveling abroad and even separate plans for personal and business purposes. And later in 2023, Gorilla will launch its revolutionary Switchback Rewards feature, which allows any unused mobile data and credit to be converted into SOPA Loyalty Points and redeemed for rewards and offers across the SOPA platform. With a virtual mobile number, Gorilla’s users access cost-effective data plans to enjoy a reliable internet connection worldwide. And through its tiered data plans, Gorilla’s customers enjoy global mobile internet and have full control over their data spending.

Asia Pacific currently has over 100 million business travelers, representing more than 30% of the world’s market. According to Amadeus, by 2025, corporate travel spending in Asia Pacific is forecast to double and account for half of the world’s total. Rokas Sidlauskas, Chief Marketing Officer of SoPa, elaborates, “Gorilla’s next-generation technology is targeted to the fast-growing business travel segment here in SEA. Our digital e-SIM product allows customers to buy data credit and to stay connected online with their mobile devices while traveling abroad. By 2H 2023, our suite of services will expand into local e-SIM provisions. Gorilla plans to offer a revolutionary Switchback Rewards feature, allowing any unused mobile data and credit to be converted into SOPA Loyalty Points and redeem them for awards across the ecosystem.”

Going forward, customers can access Gorilla’s services in the following manner:

Howie Ng, Chief Technology Officer of SoPa, explains Gorilla’s three main products:

1) Gorilla Local e-SIM enables users to acquire a temporary local phone number while traveling, make phone calls, receive SMS, OTPs and other data through conventional 4G/5G network. Features include:

Local e-SIM product with full flexibility and control over required data and talk-time
●Comes with local number
●Switch unused data back to Gorilla Points with SwitchBack
●Available globally
●Strategic partnership with Society Pass

2) Gorilla Global Mobile App allows users to:

Purchase & Activate Gorilla Global e-SIM Service
●Purchase, transfer and send data plans and mobile credit to business associates, family and friends
●SwitchBack unutilized data (later in 2023)
●Eliminate the need for multiple SIM cards when travelling
●Avoid high roaming charges
●Enjoy benefits of the next-generation telco solutions

3) Gorilla SwitchBack’s features are the following:

Unused data can be converted to SOPA Points using SwitchBack
●Proprietary technology, new age solution
●Transforming digital consumable into a digital rewards
●SwitchBack, save and redeem points to enjoy thousands of rewards
●No Limits, No Caps

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operatesThoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network;NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; andPushkart.ph, a popular grocery delivery company in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
Rokas Sidlauskas
Chief Marketing Officer
rokas@thesocietypass.com

Singaporean Startup ONEVIEW Secures Seed Funding of S$4 Million, to Revolutionise Document Management and Bill Payment Industry in Southeast Asia

Singapore-based start-up, OneView Pte Ltd (“ONEVIEW”), is pleased to announce that it has secured S$4 million in seed funding from ADERA Global, Beyon Connect, part of the Beyon Group, and Cumulo9 to introduce an innovative digital platform for secure communication of documents and facilitating value-added e-services.

ONEVIEW’s innovative platform aims to revolutionise bill payments by transforming the interaction between consumers and senders, thereby simplifying everyday digital communications with a more convenient, sustainable, and spam-free experience.

ONEVIEW plans to roll out digital post box and communication services by the end of the year in Singapore, enabling users to easily access their documents and communications from multiple billers and senders within a single app.

Using Singapore as a testbed for the Southeast Asian region, ONEVIEW aims to set the benchmark for innovative, eco-friendly digital solutions that improve people’s lives. By partnering with key players in the industry such as ADERA Global, Beyon Connect, and Cumulo9, ONEVIEW’s platform offers a comprehensive solution that meets the needs of both consumers and senders.

Lead Investors in the Seed Funding Round

ADERA Global, headquartered in Singapore, is a leader in data security and automation, serving global banks, financial institutions, telecommunications and government agencies around the world.

Beyon Connect, part of the Beyon group based in Bahrain, is a provider of new technologies with great innovation potential, Software-as-a-Service platforms, and advanced IT solutions for both the public and private sectors in the MENA region.

New Zealand-based Cumulo9 provides business services for the digital delivery of transactional documents, as well as CCM (Customer Communications) solutions throughout APAC.

Aligning with Singapore’s Smart Nation Vision and Accelerating Digitalisation

Singapore has set its sights on becoming a world-class, tech-driven city-state. The vision for a digital-first Singapore is one where a Digital Government, Digital Economy and Digital Society harness technology to effect transformation in health, transport, urban living, government services and businesses. The Singapore Government has made bold strides and steady progress in its digitalisation blueprint.

Aligned with this vision for a digital-first Singapore, ONEVIEW aims to enable effective and secure communications between government, agencies, business enterprises and individuals in Singapore. The platform is designed to simplify secure document transmission and encourage greater digitization of utilising embedded e-services to fulfill actions such as payments, document verification and other value-added services.

Utilising ONEVIEW’s digital postal solutions, customers can harness its technology for greater personalisation and convenience, making it intuitive for each individual user to view their digital postal communications, all at one glance.

Enhancing Sustainability and Simplifying Everyday Digital Communications

Green economic growth is an important part of Singapore’s national agenda on sustainable development, where the Singapore Green Plan 2030 aims to harness technology-driven solutions to “secure a green, liveable, and sustainable home for generations of Singaporeans.

ONEVIEW is committed to going green and minimizing paper waste, aligning with Singapore’s environmental initiatives. By providing documents such as digital billing statements and providing easy payment options, the joint venture aims to encourage more consumers to make the switch to paperless billing.

In Singapore, paper is one of the most common type of waste and in 2021, there was about 1.136 million tonnes of paper and cardboard waste generated.

With this digital postal solution, ONEVIEW will reduce the need for paper bills, thus reducing carbon footprint and promoting sustainability.

“Our mission is to revolutionize the way people pay and manage their important documents such as bills, while also helping Singapore achieve its vision of becoming a Smart Nation,” said LEE Kok How, CEO of ONEVIEW.“Our app is designed to simplify the process, save users time and hassle, and help them stay on top of their action items, such as payments, with ease. With the support of our investors, we are confident that our platform will set a new standard for digital bill payment services in the region, while contributing to Singapore’s vision of a Smart Nation.”

Christian Rasmussen, CEO of Beyon Connect said,“At Beyon Connect, our DNA is rooted in digital innovation and sustainability. We are thrilled to align with ADERA Global and Cumulo9, who share our passion for creating highly secure digital postboxes and communication platforms. Together, we will continue to revolutionize the way people communicate and connect via the ONEVIEW platform in the ASEAN region.”

Beyon Chief Digital Growth Officer – Shaikh Mohamed bin Khalifa Al Khalifa added, “We are extremely proud to see our digital postbox and communications innovations being used as the foundation for ONEVIEW, in a digitally mature society like Singapore. This marks a significant milestone for Beyon Connect and reinforces our commitment to driving digital transformation globally.”

Cumulo 9’s Chris Hogg added, “As a company that is committed to providing cutting-edge solutions that help businesses thrive in a digital age, we are pleased to support ONEVIEW in its mission to digitize bill payment management in Southeast Asia.”

“As a global leader in digital transformation, ADERA Global is excited to partner with ONEVIEW in their mission to revolutionize communications, document management and value-added services such as payments in Southeast Asia,” said ADERA Global’s Executive Director Marvin Tan. “We believe that ONEVIEW has the potential to set a benchmark in the region and transform the way people manage their bills and documents.”

For more information on ONEVIEW, please visit: https://oneview.sg/

Issued on behalf of ONEVIEW by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Society Pass Inc (Nasdaq: SOPA)/Thoughtful Media Group Inc Acquires Newave Strategic, leading Indonesia-based KOL Management Agency; Onboards +10,000 Indonesia-based Influencers

Thoughtful Media Group Inc acquires second company in Indonesia, Newave Strategic, a leading KOL management agency in Indonesia
TMG onboards +10,000 Indonesia-based influencers onto its digital advertising platform with acquisition
Post acquisition, Newave is re-branded as Thoughtful Media Indonesia and its leadership and employees are fully integrated into Thoughtful Media regional operating structure
Thoughtful Media Indonesia forecasts continued compelling revenue growth in 2023 and beyond

Thoughtful Media Group Inc (Thoughtful Media or TMG), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the acquisition of Newave, the go-to advertising platform for nano and micro influencers (KOLs with under 100,000 followers) in the Indonesian social media scene. Newave’s +10,000 influencers on its talent roster turbocharges TMG’s social commerce advertising business in both Indonesia and SEA.

Founded in 2017, Newave has ridden the popularity of social media and social commerce in Indonesia advertising market. Newave Head of Strategy, Ilhamka Nizam, explains, “According to Datareportal, 68% of Indonesians or 191 million people are on social media as of January 2022. Covid drove millions of Indonesians to shop online for more than 3 hours daily via their social media. Naturally, brands increased their marketing budgets every year since Newave was founded. For 2023, we expect Indonesia-based brands to invest more than 30% of their marketing budget on influencer marketing.”

To meet demand for influencers from increasing advertising budgets, Newave focused on identifying and servicing up-and-coming nano and micro influencers as these KOLs represents 66% of all influencers in Indonesia according to INSG.CO. Newave Co-Founder, Bunga Nizam, comments, “When we founded Newave, we realised that onboarding hundreds and thousands of nano and micro influencers is the unique selling proposition that sets Newave from other so-called influencer marketing companies. Why? Because it is easier to make your audience engage with your content if you share a familiarity with them. And how does one share familiarity with the audience? In essence, nano and micro influencers, comprised of family and friends and not celebrities, personalise advertising content. In addition, advertisers can deploy specifically tailored marketing campaigns as often as they want with a cheaper budgets and optimised results. As a result, we have been fortunate to onboard more than 10,000 influencers onto our talent roster.”

Ms. Pamela Aw-Young, TMG Vice-Chairman, exclaims, “TMG is ecstatic to welcome Newave onto our ever-expanding TMG regional platform. By merging Newave’s dominant position in the nano and micro influencer space with TMG’s social commerce focused ecosystem, we provide additional channels for regional and local brands to market their products and services. Since our parent company, SoPa, acquired TMG in July 2022, TMG has grown from strength to strength with headcount growing from a dozen professionals to over 60 staff in just under a year. We look to triple our revenues year-on-year in 2023. As we enter Philippines, Singapore, and Malaysia markets in 2H 2023, TMG is uniquely positioned to be the premier SEA regional digital advertising agency offering a significant value proposition for advertisers, merchants and influencers in SEA’s biggest economy.”

Newave Co-Founder, Bulan Nizam, adds, “Newave is proud to become an integral part of TMG and SoPa. TMG’s broad advertising network and SoPa’s extensive user and merchant bases in SEA allow us to fully become the premier digital advertising company in the world’s fourth most populous country. Thoughtful Media Indonesia is well positioned to generate significant revenues in 2023 and occupies a central position in Indonesia’s large and fast-growing digital advertising market.”

About Thoughtful Media Group Inc (TMG)

Founded in 2010, Thoughtful Media Group Inc is a leading digital advertising platform in SEA. Through our network of talented creators across multiple industries in Thailand, Vietnam and Indonesia, we help brands maximise marketing budgets and achieve business objectives through some of the most innovative marketing campaigns in the region.

In 2022, Society Pass Inc (Nasdaq: SOPA), SEA’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, acquired Thoughtful Media Group. Since then, we have fully evolved into a digital-first and fully integrated advertising powerhouse. For more information, please check out our website: www.thoughtfulmedia.com.

About Society Pass Inc.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operatesThoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network;NusaTrip, a leading Indonesia-based Online Travel Agency;VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform;Pushkart.ph, a popular grocery delivery company in Philippines; andMangan.ph, a leading local restaurant delivery service in Philippines.

Cautionary Note Concerning Forward-Looking Statements

Media Contacts:
Rokas Sidlauskas
Chief Marketing Officer
rokas@thesocietypass.com

VinFast To Publicly List Through Business Combination With Black Spade Acquisition Co

VinFast Auto Pte. Ltd. (VinFast or the Company), and Black Spade Acquisition Co (NYSE: BSAQ) (Black Spade) announced today that they have entered into a business combination agreement. After the transaction, VinFast will have an equity value of over US$23 billion and be listed in the U.S.

Representatives of Vingroup, VinFast and Black Spade at the Signing Ceremony

The business combination values VinFast at an enterprise value of approximately US$27 billion and an equity value of US$23 billion, not including cash from BSAQ’s approximately US$169 million of cash in trust (assuming no Black Spade shareholders elect to have their Black Spade shares redeemed for cash as permitted).

The transaction is expected to close in the second half of 2023, subject to regulatory and shareholder approvals, and other customary closing conditions. After the transaction, existing shareholders of VinFast will hold approximately 99% shares of the combined company.

Madame Thuy Le, Global CEO of VinFast Auto Pte. Ltd., said: “VinFast has already demonstrated the ability to quickly reach international markets. The partnership with Black Spade and listing of VinFast in the U.S. represents the perfect capital raising avenue for our future global ambitions and is also an important accomplishment for Vingroup.”

Mr. Dennis Tam, Chairman and Co-CEO, Black Spade Acquisition Co, shared, “VinFast has demonstrated their execution excellence by building up a maximum production facility of up to 300,000 electric vehicles (EVs) a year and having a full range of beautifully designed high quality EVs, all within the span of a few years. With the support of Vingroup, one of the largest conglomerates in Vietnam, VinFast is very well positioned to take advantage of the EV lifestyle trend and we are very excited about the future potential growth of VinFast in Vietnam and globally.”

VinFast, a member of Vingroup, was founded in 2017 and envisioned to drive the movement of global smart electric vehicle revolution. VinFast manufacturers and exports a full portfolio of e-SUVs, e-scooters and e-buses across Vietnam, North America, and, soon, Europe. The Company operates a state-of-the-art automotive manufacturing complex in Hai Phong that boasts up to 90% manufacturing automation and annual production capacity (i.e. maximum number of vehicles that can be constantly manufactured in a year with additional shifts per day throughout the year) of up to 300,000 units in phase 1.

VinFast is committed to its mission of creating a sustainable future for everyone. The Company converted into a fully EV manufacturer in 2022, and has delivered four EV models: VF e34, VF 8, VF 9 and VF 5 to customers in Vietnam to date. VinFast recently crossed an important milestone on the journey to becoming a recognized global EV brand with the first VF 8 EVs exported to North America earlier this year.

Black Spade, listed on the NYSE, was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments, and consistently seeks to add new investment projects and opportunities to its portfolio.

Additional information about the proposed transaction, including a copy of the business combination agreement, is available in Black Spade’s Current Report on Form 8-K, filed on May 12, 2023 with the Securities and Exchange Commission (“SEC”) at www.sec.gov, and will be available on the VinFast investor relations page at www.vinfastauto.com.

More information about the proposed transaction will also be described in VinFast registration statement that include BSAQ’s proxy statement and VinFast’s prospectus relation to the business combination, which will be filed with the SEC.

About VinFast
VinFast – a member of Vingroup – is the leading Vietnamese automotive manufacturer, committed to its mission of creating a green future for everyone. VinFast manufacturers and exports a full portfolio of electric SUVs, e-scooters and e-buses across Vietnam, the United States, and, soon, Europe. Learn more at www.vinfastauto.com.

About Black Spade Acquisition Co
Black Spade Acquisition Co (“BSAQ”) is a blank check company incorporated for the purpose of effecting a business combination (Special Purpose Acquisition Company). Listed on the NYSE, BSAQ was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments, and consistently seeks to add new investment projects and opportunities to its portfolio. Learn more at: https://www.blackspadeacquisition.com/.

Advisors
Chardan is serving as M&A advisor to VinFast and JonesTrading Instituional Services is serving as financial advisor to Black Spade.

Forward-Looking Statements Legend
This document contains certain forward-looking statements within the meaning of U.S. federal securities laws with respect to the proposed transaction between VinFast Auto Ltd. (the “Company”) and Black Spade Acquisition Co (“Black Spade”), including statements regarding the benefits of the transaction, the anticipated benefits of the transaction, the Company or Black Spade’s expectations concerning the outlook for the Company’s business, productivity, plans and goals for product launches, deliveries and future operational improvements and capital investments, operational performance, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, as well as any information concerning possible or assumed future results of operations of the Company. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are their managements’ current predictions, projections and other statements about future events that are based on current expectations and assumptions available to the Company and Black Spade, and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed transaction may not be completed within the prescribed time frame, which may adversely affect the price of Black Spade’s securities, (ii) the risk that investors of the Company may not receive the same benefits as an investor in an underwritten public offering, (iii) the risk that the Black Spade securities may experience a material price decline after the proposed transaction, (iv) the adverse impact of any shareholder litigation and regulatory inquiries and investigations on the Company’s business, (v) a reduction of trust account proceeds and the per share redemption amount received by shareholders as a result of third-party claims, (vi) the risk that the transaction may not be completed by Black Spade’s business combination deadline and an extension period, (vii) the risk that distributions from trust account may be subject to claw back if Black Spade is deemed to be insolvent, (viii) the ability of the Company to get approval for listing of its ordinary shares and warrants and comply with the continued listing standards of the Nasdaq, (ix) the failure to satisfy the conditions to the consummation of the transaction, certain of which are outside of Black Spade or the Company’s control, (x) the ability of the Company to achieve profitability, positive cash flows from operating activities and a net working capital surplus, (xi) the ability of the Company to fund its capital requirements through additional debt and equity financing under commercially reasonable terms and the risk of shareholding dilution as a result of additional capital raising, if applicable, (xii) risks associated with being a new entrant in the EV industry, (xiii) the risks that the Company’s brand, reputation, public credibility and consumer confidence in its business being harmed by negative publicity, (xiv) the Company’s ability to successfully introduce and market new products and services, (xv) competition in the automotive industry, (xvi) the Company’s ability to adequately control the costs associated with its operations, (xvii) the ability of the Company to obtain components and raw materials according to schedule at acceptable prices, quality and volumes acceptable from its suppliers, (xviii) the Company’s ability to maintain relationships with existing suppliers who are critical and necessary to the output and production of its vehicles and to create relationships with new suppliers, (xix) the Company’s ability to establish manufacturing facilities outside of Vietnam and expand capacity within Vietnam timely and within budget, (xx) the risk that the Company’s actual vehicle sales and revenue could differ materially from expected levels based on the number of reservations received, (xxi) the demand for, and consumers’ willingness to adopt EVs, (xxii) the availability and accessibility of EV charging stations or related infrastructure, (xxiii) the unavailability, reduction or elimination of government and economic incentives or government policies which are favorable for EV manufacturers and buyers, (xxiv) failure to maintain an effective system of internal control over financial reporting and to accurately and timely report the Company’s financial condition, results of operations or cash flows, (xxv) battery packs failures in the Company or its competitor’s EVs, (xxvi) failure of the Company’s business partners to deliver their services, (xxvii) errors, bugs, vulnerabilities, design defects or other issues related to technology used or involved in the Company’s EVs or operations, (xxviii) the risk that the Company’s research and development efforts may not yield expected results, (xxix) risks associated with autonomous driving technologies, (xxx) product recalls that the Company may be required to make, (xxxi) the ability of the Company’s controlling shareholder to control and exert significant influence on the Company, (xxxii) the Company’s reliance on financial and other support from Vingroup and its affiliates and the close association between the Company and Vingroup and its affiliates and (xxxiii) conflicts of interests with or any events impacting the reputations of Vingroup affiliates or unfavorable market conditions or adverse business operation of Vingroup and Vingroup affiliates. The foregoing list of factors is not exhaustive. Forward-looking statements are not guarantees of future performance. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form F-4 to be filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”), Black Spade’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 10, 2023, and other documents filed by the Company and/or Black Spade from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and all forward-looking statements in this document are qualified by these cautionary statements. The Company and Black Spade assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither the Company nor Black Spade gives any assurance that either the Company or Black Spade will achieve its expectations. The inclusion of any statement in this communication does not constitute an admission by the Company or Black Spade or any other person that the events or circumstances described in such statement are material.

Additional Information and Where to Find It
This document relates to a proposed transaction between the Company and Black Spade. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Company intends to file a registration statement on Form F-4 that will include a proxy statement of Black Spade and a prospectus of the Company with the SEC. After the registration statement is declared effective, the definitive proxy statement/prospectus will be sent to all Black Spade shareholders as of a record date to be established for voting on the proposed transaction. Black Spade also will file other documents regarding the proposed transaction with the SEC. This document does not contain all the information that should be considered concerning the proposed transactions and is not intended to form the basis of any investment decision or any other decision in respect of the transactions. Before making any voting or investment decision, investors and shareholders of Black Spade are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Black Spade through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Black Spade may be obtained free of charge from Black Spade’s website at https://www.blackspadeacquisition.com/ or by written request to Black Spade at Black Spade Acquisition Co, Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central Hong Kong.

Participants in Solicitation
Black Spade and the Company and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Black Spade’s shareholders in connection with the proposed transaction. Information about Black Spade’s directors and executive officers and their ownership of Black Spade’s securities is set forth in Black Spade’s filings with the SEC, including Black Spade’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 10, 2023. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents as described in the preceding paragraph.

BrickMark Group Announces Strategic Partnership with PreIPO.com to Expand Access to Tokenized Real Estate

BrickMark Group AG (“BrickMark Group”), a global pioneer in the tokenization of real estate assets, today announced a strategic partnership with PreIPO Corporation (“PreIPO.com”), a leading platform for investing in private companies before they go public. This collaboration aims to provide expanded access to tokenized real estate investments for accredited investors worldwide.

The partnership brings together BrickMark’s expertise in tokenizing real estate assets and PreIPO.com’s established platform to allow accredited investors to access high-growth private companies. By joining forces, the two companies will enable accredited investors to easily invest in tokenized real estate, creating a unique opportunity to diversify their portfolios with the world’s largest asset class.

“We are excited to partner with PreIPO.com and leverage our platforms to reach a wider audience of accredited investors interested in digital real estate investments,” said Stephan Rind, CEO and Founder of Brickmark. “Our mission is to unlock the vast potential of the real estate market through tokenization, and this partnership brings us closer to that goal. With this partnership two of the leading FinTech platforms in Europe and North America join forces to strengthen their distribution network between two continents.”

Through this collaboration, BrickMark and PreIPO.com will offer the following benefits to investors:
– Expanded Access: Accredited investors will be able to invest in tokenized real estate assets alongside private companies on the PreIPO.com platform.
– Enhanced Diversification: Investors can diversify their portfolios by adding tokenized real estate to their existing investments in private companies.
– Streamlined Transactions: The partnership simplifies the process of investing in tokenized real estate, providing a seamless experience for accredited investors.

“Stephan Rind and the Brickmark team have built an impressive platform that unlocks the value of real estate through tokenization,” said David Grzan CEO of PreIPO.com. “We are thrilled to join forces and offer our accredited investors access to this innovative asset class, further enhancing the diversification of their portfolios.”

This partnership marks a significant step forward for both Brickmark and PreIPO.com as they continue to revolutionize the way investors access the world’s largest asset class and high-growth private companies.

About Brickmark

Switzerland-based BrickMark Group is a global pioneer and leading provider in Europe of tokenization solutions for the transformation of real estate assets and projects into digital investment products. The BrickMark Group takes over the conception, structuring and implementation of the tokenization projects via their platform BRICKGATE as a so-called “One Stop Shop”. Currently in preparation is the tokenization of two international commercial properties with a total volume of more than CHF 400 million.

About PreIPO.com

PreIPO.com is a premier platform that connects accredited investors with private companies before they go public. The platform provides investors with access to high-growth companies, allowing them to invest in the future success of these businesses and diversify their portfolios.

For more information, please contact:

BrickMark Group Public Relations
Email: info@brickmark.net
Phone: +41 41 500 0141

PreIPO.com Public Relations
Email: info@preipo.com
Phone: +1 (888) 863 1582

Empowering R&D in Special Diseases, “Next Generation” CRO Company TriApex Completes Series C with Hundreds of Millions of CNY, Led by Legend Capital

TriApex Laboratories Co., Ltd (hereinafter referred to as “TriApex”) recently announced the completion of its Series C financing round, which was led by Legend Capital. This funding milestone will help TriApex continue to lead in the field of special diseases and devote itself to providing non-clinical data with more clinical value, accelerating the international expansion of integrated R&D services from early drug discovery through final product approval in ophthalmology, central nervous system (CNS) and metabolic disease drugs.

Founded in 2008, with the mission of focusing on scientific evaluation, promoting innovation and transformation, and improving the quality of life, TriApex is headquartered in Nanjing and has set up subsidiaries in Nanjing, Kunming, Shanghai, Chengdu and Hainan. TriApex’s customers include many leading pharmaceutical and biotech companies located in China, Europe, and the US. Clients recognize TriApex’s unique industry leadership in developing advanced in-vivo disease models, focusing on animal welfare and AAALAC certification, extensive lab analysis and testing capabilities as well as extensive scientific and regulatory resources to translate preclinical success into the clinic.

TriApex currently leverages its core non-clinical research business to open up the entire industrial chain horizontally. It has formed three business segments of disease model and pharmacodynamics research, pharmaceutical policy strategy and safety assessment, and clinical and laboratory services, and provides integrated R&D development services for global pharmaceutical companies and scientific research institutions with a high-quality and stable lab animal supply chain.

ZHANG Xuefeng, CEO of TriApex, stated: “We are very honored to be recognized by our investors. TriAPex will continue to strengthen the restructuring of resources, deepen the understanding of disease biology mechanisms and translational medicine, focus on scientific evaluation, and improve the quality of life. At the same time, we will also continue to enhance our international competitiveness and promote innovation and transformation by building a healthy development ecosystem of biomedicine with new drug R&D companies and related parties.”

Hank ZHOU, Co-Chief Investment Officer of Legend Capital, stated: “It is a great honor to participate in the business of TriApex, and I would like to extend my gratitude to the team and existing investors and shareholders of the company for their support and recognition of Legend Capital. Legend Capital has systematically invested in the field of life sciences for a long time, focusing on the link of industrial resources and emphasizing professional empowerment. With focusing on the one-stop CRO service in innovative drugs such as CGT (Cell Therapy and Gene Therapy), TriApex has an excellent reputation in the CRO field of preclinical drug evaluation in China and has been widely recognized by customers worldwide. TriApex has a professional and dedicated team with lofty career pursuits and is committed to providing high-quality service. We look forward to TriApex becoming a next-generation CRO service organization with global influence in future development.”

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital ( https://www.linkedin.com/company/legend-capital ).

Chiratae Ventures Maiden Growth Fund-I announces its close at INR 1001 cr, oversubscribed by 34%

Chiratae Ventures, India’s largest homegrown venture capital fund, has successfully concluded the fundraising for its first Chiratae Growth Fund (CGF-I), raising INR 1001 cr. On a targeted INR 750 crore, CGF-I has been oversubscribed by 34%. The announcement of the close of CGF-I comes on the heels of Fund 4, which was oversubscribed by 22%. This marks a continued trend of Chiratae’s funds being oversubscribed, highlighting the confidence and faith placed in the firm’s ability to identify and nurture promising startups poised for growth and success.

CGF-I will invest in the growth rounds of market-leading technology startups from its portfolio and other new opportunities, making it a sector-agnostic fund to support the growth and expansion of companies.

CGF-I is supported by Chiratae’s existing investors, including Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, new investors including State Bank of India, India Infoline Limited (IIFL), Axis Bank and others. With this new CGF-I, Chiratae Ventures will continue its mission of supporting innovative technology startups in their growth stage and unlocking their potential.
Chiratae Ventures has a successful track record of investing in early and growth-stage startups over the past 16 years. The Chiratae Funds collectively (across 6 funds) have $1.1 Bn in AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to the investors in each of the last 12 years. Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others.

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said, “We are excited to have raised our first Growth Fund, enabling us to continue supporting the growth and expansion of market-leading technology startups in India and beyond. The oversubscription of the fund by 34% is a testament to the trust and confidence our investors have placed in us. As we embark on this exciting new chapter, we remain committed to identifying and investing in innovative startups that have the potential to drive transformative change and create long-term value. Thank you to our existing investors Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, we welcome the new ones, State Bank of India, IIFL, Axis Bank and others.”

On closing the Chirataes’ first Growth Fund, TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures, said, “The successful fundraising for Chiratae’s First Growth Fund is a testament to the quality of the investment strategy and our team’s ability to identify and support exceptional entrepreneurs. With the Growth Fund -I, we are well-positioned to continue to support promising startups through their growth journey and create value for all stakeholders by becoming market leaders. We thank all our investors for their continued support to Chiratae.”

About Chiratae Ventures

Chiratae Ventures is a 16-year-old Indian technology venture capital fund, which collectively (across 6 funds) has $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The Chiratae funds have investments across sectors such as Consumertech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.

Chiratae Ventures’s Global Advisory board consists of esteemed personalities such as Mr Ratan Tata (Chairman), Mr Kris Gopalakrishnan, Mr Manish Choksi (Vice Chairman Asian Paints), Mr Bruno Raschle (Founder Adveq Zurich), Dr Andreas Hettich (Chairman Hettich Corporation Germany) and Dr Ferzaan Engineer (Founder Cytecare and Nightingale).

Contact:
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

PreIPO.com Unveils Cutting-Edge Fintech Tools at Pro Panama’s Inaugural Sustainable Investment Summit

Leading global fintech brand PreIPO has successfully participated in the First Sustainable Investment Forum of Panama, organized by PROPANAMA and held earlier this month at the Panama Convention Center in Amador, which is the biggest convention center in Central America. The disruptive private equity platform joined the event to demonstrate its innovative approach to optimizing distribution, maximizing liquidity, and democratizing the capital formation process for issuers, intermediaries, and investors.

“We are excited to explore the investment opportunities in Panama’s thriving economy and contribute to its sustainable development through our innovative fintech solutions,” said Harold Alvarez, Chief Syndicate Officer PreIPO.com.

The Panama Sustainable Investment Forum is a prestigious event that brings together international investors and businesses interested in exploring the sustainable investment opportunities offered by Panama’s dynamic and growing economy. The event highlights Panama’s unique advantages, including incomparable connectivity, a safe environment, and the benefits of various special regimes for foreign investment. Participants are introduced to the competitive, business-friendly, and transparent tax, labor, and migration legal tools available in the country.

PreIPO showcased its cutting-edge fintech solutions at the forum, highlighting the transformative potential of its platform for sustainable investments in Panama. By offering an accessible and efficient capital formation process, PreIPO aims to support the growth of sustainable businesses and contribute to the long-term economic development of the country.

“Participating in PROPANAMA’s Sustainable Investment Forum has been a remarkable experience for PreIPO,” said Harold Alvarez, Chief Syndication Officer at PreIPO. “We are excited to explore the investment opportunities in Panama’s thriving economy and contribute to its sustainable development through our innovative fintech solutions.” PreIPO.com’s presence at the Panama Sustainable Investment Forum reinforces its commitment to promoting sustainable investments and fostering economic growth in emerging markets. The company’s platform aims to empower businesses and investors worldwide, driving positive social and environmental impacts through smart and responsible investments.

About PreIPO.com

The event took place on the cusp of PreIPO launching its $128M Series A Round to scale globally in a rapid manner. Currently, PreIPO.com currently features over $1B in deal flow Available in the Deal Room (www.preipo.com/deal-room-preipo). PreIPO is an innovative global fintech brand that has revolutionized the private equity industry with its disruptive platform. The company’s unique approach optimizes distribution, maximizes liquidity, and democratizes the capital formation process for issuers, intermediaries, and investors. PreIPO is dedicated to empowering businesses and investors with efficient, transparent, and accessible solutions that drive sustainable growth and create lasting value.

To Learn More about how you can participate in the PreIPO Ecosystem, please visit www.preipo.com or contact info@preipo.com.

Harold Alvarez
PreIPO
+1 888-863-1582
info@preipo.com