AGI Launches $150M AI Fund; Asian Firms Secure Major Funding
Allianz Global Investors (AGI) has launched a new fund, 3Cap AGI Fund, focusing on early-stage AI startups. Meanwhile, various companies across Asia have secured significant funding for expansion and new projects. Neutura, a carbon removal firm, has received angel funding for two new biochar projects, aiming to combat climate change by converting agricultural waste into valuable resources in Southeast Asia and Southern Europe.
AGI established the 3Cap AGI Fund with a targeted USD 150 million fund size, aiming to make early-stage investments in the AI sector. Esther Wong, previously the managing director of SenseTime, has joined VMS Group to lead this initiative.
In other funding news, Mingyang Medical has secured RMB 1.26 million in a Series A round for brand development. Home Credit Indonesia has received USD 100 million from Mitsubishi UFJ Financial Group (MUFG), planning to use the funds primarily for ESG-based financing and fostering financial and digital inclusion. UEMT has raised an eight-figure RMB sum in a pre-Series A round for marketing, team building, and R&D. Dingheng Shipping Technology has bagged a nine-figure RMB sum in a Series B round led by China Merchants Capital. Shuwei has secured RMB 100 million in a Series D round.
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