Nikkei Inc announced today that it has acquired a majority stake in Singapore-based media startup DealStreetAsia. DealStreetAsia reports on private equity, venture capital activity, deal flows, fundraising, and startup news across Southeast Asia and India.
The deal is facilitated by Nikkei Group, which owns the Financial Times (FT) and publishes the Asian news in English under the title Nikkei Asian Review.
With the acquisition, the company said that it also strengthens Nikkei and FT’s arm of corporate news and data service scoutAsia.
“With the partnership, it will expand and deepen our reporting of the thriving Asian technology and startup landscape, with a strong focus on developing the editorial offering at Nikkei Asian Review, a key product in our global strategy,” said Naotoshi OKADA, President and CEO of Nikkei Inc.
“Joining forces with Nikkei will help us accelerate our mission of helping the PE-‑VC industry and dealmakers understand the changing megatrends in this space,” said Joji Thomas Philip, Founder, and Editor in Chief of DealStreetAsia.
DealStreetAsia was launched in 2014, and runs a business event called the Asia PE-‑VC Summit that is held every September in Singapore. It attracts the regionʼs top private equity, venture capital, and M&A executives and startup founders.
One of the existing investors in DealStreetAsia, the Indian business daily Mint, published by Hindustan Times, will continue to be a minority shareholder. Other shareholders, including SPH Ventures, North Base Media, Alpha JWC, Ozi Amanat’s K2 VC, SGAN, and angel investors such as Paytm CEO and founder Vijay Shekhar Sharma and chairman of Rogers Holdings, Jim Rogers, among others, have all agreed to exit.
e27 previously reported that the Financial Times was in the process to acquire DealStreetAsia. The representative from the company had replied and declined to comment further at that time.
Image Credit: DealStreetAsia