Singapore based Art Loft, an ecommerce platform that connects emerging Asian artists with art buyers, has raised an undisclosed amount in a seed round of funding from East Ventures.
Chinese ecommerce giant Alibaba on Tuesday filed for a $1 billion IPO with the US Securities and Exchange Commission (SEC). It will list either on the New York Stock Exchange or the Nasdaq and has not yet specified a ticker symbol.
Founded in 1999 by Jack Ma, a former English teacher, Alibaba reported revenues at $5.55 billion on profits of $1.37 billion, for the financial year ended March 31, 2013.
The Singapore government’s National Research Foundation (NRF) will pump in S$60 million (around $48 million) into six early stage venture capital funds under its ESVF (Early Stage Venture Fund). The six funds that will receive this capital are Jungle Ventures, Golden Gate Ventures, SBI Ven Capital, Walden International, New Asia Investments and Monk’s Hill Ventures.