Cloud kitchens are already meant to reduce the burden of infrastructure on food and beverage brands by providing them with centralized facilities to prepare meals for delivery. This means the responsibility falls on cloud kitchen operators to make sure they have enough locations to meet demand from F&B clients, while ensuring fast deliveries to end […]
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Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi
Editor’s take: The week that was May 3-8
May 9, 2021
As I curate the list of significant developments that unfolded this week, I’ll begin with the fundraising activity in Southeast Asia. While the number of firms or GPs raising capital has been a tad lower when compared to the other weeks, their commitment goes on to signal how LPs or funds-of-funds are increasingly betting big on prominent themes, keeping consumer trends and the long-term growth story in mind.
Temasek-backed Big Idea Ventureshit the $50 million final close of its debut alternative protein fund after raising capital from investors such as Le Groupe Bel, the French cheese manufacturer and distributor behind The Laughing Cow; AAK, a Sweden-based global producer of vegetable oil and fats; and Meiji Co, a Japanese food company.
SINGAPORE (THE BUSINESS TIMES) - Rainforest, an e-commerce brand aggregator headquartered in Singapore, is launching with US$36 million (S$48.1 million) in seed financing to buy and grow Asia-based brands that sell on Amazon.
The round comprised US$6.5 million in equity financing led by Nordstar, with participation from Insignia Ventures Partners. A US$30 million committed debt facility was raised from a US-based debt fund.
JJ Chai, chief executive officer of Rainforest, said the debt is not convertible but involves a single-digit percentage of warrants attached. The debt covenants include the requirement to acquire profitable brands with sufficient track record, and that Rainforest maintains a healthy interest coverage ratio, he told The Business Times.
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