Warburg Pincus invest $125 Million into LendingPoint

LendingPoint, a financial technology platform, today announced a $125 million preferred equity investment from Warburg Pincus LLC, a leading global private equity firm focused on growth investing.

Warburg Pincus has invested over $11 billion across the full spectrum of the financial services landscape, including insurance, banking, asset management, specialty finance, payments, and transaction processing. Together with the Warburg Pincus investment, LendingPoint has raised more than $325 million of equity to date.

The Warburg Pincus investment follows an impressive 2020 for LendingPoint, who ended the year profitable, closed its 10th securitization transaction, launched its SDKn platform, enhanced its point-of-sale merchant platform, and partnered with a leading global ecommerce platform to provide small business capital to their sellers.

Abbisko Therapeutics raises $123 million

Chinese biotech company Abbisko Therapeutics has raised $123 million from more than a dozen investors, including The Carlyle Group and Warburg Pincus LLC.

Abbisko said in a news release that Carlyle led the latest fundraising with Warburg, OrbiMed, Lake Bleu Capital, and an unnamed Boston-based investor as the joint leading investors. Other investors include Janchor Partners, Sage Partners, SHC, and Greater Bay Area Homeland Development Fund.

The company, which did not disclose its valuation in the fundraising, said the proceeds will be used to accelerate the progress of its clinical programs and further expand its preclinical pipeline.

Warburg Pincus LLC has invests $100 million in India’s boAt,

U.S. private equity firm Warburg Pincus LLC has invested about $100 million in India’s boAt, the consumer electronics firm said on Wednesday.

BoAt, known for its budget-friendly bluetooth speakers and wireless earbuds, was last valued at nearly $283 million after a $59.6 million funding round in December.

The company, whose products compete with JBL Professional and realme, had an annual revenue of $95.86 million. During the third quarter of 2020, boAt captured a market share of 32.4% in the earwear category in India.

Gojek and Tokopedia are in advanced talks on $18 billion merger

Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia are in advanced talks to seal a $18 billion merger ahead of a potential dual listing in Jakarta and the United States.

Common investors in the pair, which are Indonesia’s most valuable start-ups, include Temasek, Sequoia Capital and Google. Alibaba Group and SoftBank Group are among Tokopedia’s investors, while Gojek’s include Warburg Pincus LLC and Tencent Holdings.

The people said Gojek was last valued at just over $10 billion and Tokopedia at around $7 billion. The combined entity would figure in the top 10 Indonesian companies by market value and become one of the largest Southeast Asian tech companies.