Daily Briefing: Aier Eye Singapore buys 35% of ISEC Healthcare for $67.1m; Gaming VC Play Ventures closes $55.56m debut fund

And Foodtech startup AiPalette secures $1.44m from seed funding.

From DealStreetAsia:

Aier Eye International (Singapore), a direct wholly-owned subsidiary of Aier Eye Hospital Group, China’s leading hospital network in eye care, has offered to acquire 35% of Singapore-listed ISEC Healthcare for $67.1m ($48.3m).

In a disclosure to the Singapore Exchange, ISEC said its shareholders have entered into a conditional sale and purchase agreement with CEL Impetus Corporate Finance, for and on behalf of Aier Eye, for the acquisition of 186 million shares representing 35% of the total issued shares held by the selling shareholders.

The selling shareholders are Dr. Lee Hung Ming, Dr. Wong Jun Shyan, Dr. Choong Yee Fong, Dr. Michael Law Sie Haur, Dr. Fang Seng Kheong, Dr. Lim Kian Seng and Dr. Yeo Kim Chuan. All of them are employees of ISEC Healthcare and its subsidiaries. The deal, if completed, is likely to lead to a mandatory general offer for the remaining shares at the same price of $0.36 per share.

Read more here.

From DealStreetAsia:

Play Ventures, a Singapore-based gaming venture capital (VC) fund, has closed its $55.56m (US$40m) debut fund, according to a statement.

The newly-formed VC had held the first close of the fund at $22.5 million in December 2018. The fund is backed by a number of gaming industry heavyweights including Rovio, the maker of Angry Birds; Modern Times Group, an international eSports and gaming entertainment company; and Anton Gauffin, CEO of social gaming giant Huuuge Games.

Play Ventures targets early-stage startups globally, especially those offering free-to-play mobile and PC games.

The VC has closed eight investments so far including Redhill Games, a Finnish PC games studio; Gamejam, a Vietnam-based studio founded by a gaming veteran from Ketchapp and Dots; and Bigger Games, a Turkey-based studio founded by Peak Games alumni.

Read more here.

From DealStreetAsia:

Singapore-based foodtech startup Ai Palette has secured $1.44m (US$1.04m) in a seed funding round led by venture capital firm Decacorn Capital, the company announced.

SGInnovate, Silicon Valley-based venture capital firm AgFunder, other individual investors, and existing investor Entrepreneur First also participated in the funding round.

Ai Palette uses artificial intelligence to help food and beverage manufacturers develop and launch new products. The startup will use the funding proceeds to develop key customer accounts across multiple markets by fast-tracking product development to strengthen the platform.

Read more here.

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