SEQUOIA INDIA & SOUTHEAST ASIA IS NOW PEAK XV PARTNERS

^{Managing Partners - L to R (General Partners) Standing - Shailesh Lakhani, Ashish Agrawal, Rajan Anandan, GV Ravishankar, Ishaan Mittal, Harshjit Sethi, Mohit Bhatnagar; Seated - Tejeshwi Sharma, Sakshi Chopra, Shailendra Singh, Abheek Anand. (Photo: Business Wire)}


Peak XV Partners will operate as a fully independent firm

The firm will continue to back ambitious founders in India, Southeast Asia and beyond from its current funds which include USD 2.5 billion (INR 20,000 crore) of uninvested capital


NEW DELHI, June 7 (Bernama-BUSINESS WIRE) -- Sequoia India & Southeast Asia, the largest venture capital firm in the region which manages over USD 9.2 billion across 13 funds, will now be known as Peak XV Partners* globally. The rebranding has come after Sequoia Capital (US/Europe), Sequoia China and Sequoia India & Southeast Asia have decided to become independent firms with distinct brands. Peak XV was the original name given to Mount Everest and symbolises the relentless pursuit of audacious goals by founders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230606005677/en/

 

Shailendra Singh, Managing Director, Peak XV Partners said, “It’s a new beginning for us as Peak XV Partners, but unlike most beginnings, this is an opportunity for us to build on top of the foundation laid over the last 17 years. Our firm will continue to be managed by the present leadership team and will continue to invest from the most recently raised set of funds focused on India and Southeast Asia.”

Since inception, Sequoia Capital (US/Europe), Sequoia China and Sequoia India/SEA have been built as separate businesses with independent investment decision making. Over the years, the strategies for each business have diverged and the scale and market leadership across different geographies has started to result in brand confusion and portfolio conflict. This has led the leaders of each business to collectively decide to move to fully independent partnerships with distinct brands, in order to serve founders and Limited Partners in the best manner.

“We are seeing companies emerge from every region with global ambitions. The flexibility that comes with the new structure will open up an unbounded global opportunity and help create more value for our founders and LPs,” Singh said.

Over the last 17 years, Sequoia India & SEA has raised 13 funds, invested in over 400 startups, with 50+ companies valued at USD 1 billion and above. The portfolio has seen 19 IPOs and multiple successful M&As resulting in USD 4.5 billion of realized exits so far. The investment team is led by 11 Managing Directors with an average tenure of over 12 years at the firm.

Peak XV Partners will continue to invest across stages (seed, venture, growth) and sectors like SaaS, AI, developer tools, cyber security, cloud infrastructure, climate tech, fintech, healthtech and consumer. The firm will further strengthen its unique and industry-leading programs like Surge and Spark that have been very well received by founders.

The firm remains committed as ever to help audacious founders build iconic companies that can be regional and global category leaders.

About Peak XV Partners

Peak XV Partners*, previously known as Sequoia Capital India & Southeast Asia, is a leading venture capital and growth investing firm focused on India, Southeast Asia and beyond. The firm is committed to helping audacious founders build iconic companies that can be regional and global category leaders across SaaS, AI, developer tools, cyber security, cloud infrastructure, climate tech, fintech, healthtech and consumer sectors.

Over the last 17 years in the region, Peak XV Partners has raised USD 9.2 billion across 13 funds and invested in over 400 companies, with 50+ companies valued at USD 1 billion and above, and 40 companies that have achieved revenues of over USD 100 million. The portfolio also includes 19 IPOs and multiple successful M&As resulting in USD 4.5 billion of realized exits so far.

For more information on Peak XV Partners, visit www.peakxv.com

*Pronounced Peak Fifteen

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20230606005677/en/

Contact

For more information, please contact:

Peak XV Partners
Shweta Rajpal Kohli
PR.IndiaSEA@sequoiacap.com
+91 98998 88667

Ushma Jhaveri
PR@peakxv.com
+91 99168 08664

Lara Kanga
+65 8650 5983

Avian WE
Oeindrila Biswas
oeindrila@avianwe.com
+91 8447776880

Source : Peak XV Partners

Lotus, Alvogen, NRx Pharmaceuticals Collaborate To Develop And Commercialise NRx-101

KUALA LUMPUR, June 6 (Bernama) -- Lotus Pharmaceuticals, a multinational pharmaceutical company, has announced a global collaboration with Alvogen, a privately owned United States (US)-based pharmaceuticals company, and NRx Pharmaceuticals Inc (NRx), a clinical stage biopharmaceutical company.

According to a statement, the global collaboration agreement covering the development and commercialisation of NRX-101 for suicidal treatment-resistant bipolar depression (S-TRBD) for global markets.

“This is an exciting transaction for Lotus. The addition of NRX-101 to our pipeline is completely in-line with our strategic objective to drive heightened innovation that addresses significant unmet medical needs,” said its Chief Executive Officer, Petar Vazharov.

Under the terms of the agreement, relating to NRX-101 for the US market, NRx is entitled to receive an initial payment of US$10 million upon achieving both a successful read-out from the ongoing Phase 2b/3 clinical trial in S-TRB and completion of a Type B meeting with the US Food and Drug Administration (FDA). (US$1=RM4.59)

NRx would receive an additional payment of US$5 million upon receipt of FDA approval for NRX-101 as well as bonus milestone payments of increasing amounts up to US$330 million based on reaching certain net sales targets.

In addition to success-based payments, NRx is eligible to receive a royalty on net sales between 12 per cent and 16 per cent contingent on certain sales thresholds for the US market and other success-based payments for markets outside of the US.

Lotus will acquire worldwide rights for NRX-101 for treatment of S-TRBD and will be responsible for commercialisation of NRX-101 in markets outside of the US through their direct commercial presence in certain Asian markets or through Lotus’s export division where the company currently markets an extensive portfolio of products through top-tier partners.

Lotus will partner with Alvogen to commercialise NRX-101 for treatment of S-TRBD in the US market through Alvogen’s Almatica label. Almatica is the CNS-focused division of Alvogen that currently markets six branded products.

Alvogen and Lotus have committed to fund the next registrational study in suicidal treatment-resistant bipolar depression to support approval of NRX-101 contingent upon successful results of the ongoing Phase 2b/3 clinical trial and completion of a Type B meeting with the FDA.

-- BERNAMA

150 YEARS HISTORY: HEINZ ANNOUNCES MAIDEN GLOBAL CREATIVE BRAND PLATFORM

KUALA LUMPUR, June 6 (Bernama) -- HEINZ announced “It Has to be HEINZ", a new global platform marking the first time in its 150-year history where the brand is unified under one creative strategy.

According to a statement, the campaign pays homage to the brand by celebrating the irrational love people have for HEINZ – from real fans’ personal love affairs with the brand, to the love and care its products are made with.

Anchored by Kraft HEINZ’s largest media investment to date, the global creative platform demonstrates the unmatched love generations of people worldwide have for HEINZ – from Ketchup to Beanz and everything in-between.

The fan stories featured in the creative, such as carrying condiment packets in purses, and smuggling tins of Beanz through airport security, are sourced from social media, news articles and through word of mouth.

“As we looked to unify the brand under one global brand platform, we dove into the world of our consumers and found that they all shared one thing: the irrational lengths they go to for HEINZ products.

“As a brand obsessed with our consumers, we created ‘It Has to be HEINZ’ as our love song back to them, our fans are our muses,” said The Kraft HEINZ Company Chief Growth Officer, North American Zone, Diana Frost.

The campaign, developed in partnership with Wieden+Kennedy, features five vignette-style spots of true and could-be-true stories, celebrating the unmatched love people have for HEINZ Ketchup and Beanz.

The new platform will be featured across channels, targeting mass reach and high impact placements through TV, online video, cinema, social and out-of-home.

“It Has to be HEINZ” will debut in the United States, Canada, the United Kingdom and Germany, and will roll out to additional markets over the next six months.

-- BERNAMA

FWD TAKAFUL SCHOLARSHIP PROGRAMME AWARDED TO 11 STUDENTS

 

Shaping the industry’s future leaders: En. Salim Majid Zain (centre), Chief Executive Officer of FWD Takaful Berhad and Ms. Lisa Lew (first from left), Chief Human Resources Officer of FWD Takaful Berhad, alongside 11 scholarship recipients. 

 

Offers education financial assistance for underprivileged students, in shaping the industry’s future leaders   

KUALA LUMPUR, June 2 (Bernama) -- FWD Takaful Berhad (“FWD Takaful”) has announced the first scholarship recipients for its FWD Takaful Scholarship Programme. The scholarships were awarded to 11 students who have shown extraordinary dedication and commitment to their studies. All the students have successfully gained entry into local universities.
 
Launched in 2021, the FWD Takaful Scholarship Programme is open to deserving students in Malaysia, especially those from B40 families (household income below RM5,000) who need financial aid to pursue their education at institutions of higher learning. The scholarship programme aims to develop skills and sustainable talent for the takaful industry by promoting and encouraging young talent to take up studies in the fields of Takaful, Shariah, Actuarial Science, Islamic Finance and Information/Digital Technology.
 
Salim Majid Zain, FWD Takaful’s Chief Executive Officer said, “At FWD Takaful, the emphasis we place on education and human capital development reflects our dedication to changing the way people feel about takaful. We aspire to develop and enhance the capacity and skills of the country’s youth in the pursuit of shaping the industry’s professionals. With the FWD Takaful Scholarship Programme, underprivileged students will be able to embark on their tertiary education journey, which will act as a significant springboard to becoming future leaders in their respective areas of study.”
 

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EGGDROP INCHEON AIRPORT STORE SURPASSES 100,000 CUSTOMERS IN THE FIRST FOUR MONTHS SINCE OPENING

 

Mr. EGG sandwich, the signature menu of EGGDROP, combines scrambled eggs with thick bread, all enhanced by EGGDROP’s special sauce. (Photo: Golden Hind)

Steady growth driven by increasing overseas travelers and strong brand awareness among foreign tourists 

SEOUL, South Korea, May 31 (Bernama-BUSINESS WIRE) -- EGGDROP, the renowned premium sandwich brand of Golden Hind (CEO Noh Young-woo), has achieved an impressive milestone by surpassing 100,000 customers in four months since EGGDROP Incheon Airport opened.
 

To commemorate this achievement, EGGDROP has released a captivating short-form video showcasing a “delightful and wholesome dining experience at the Incheon Airport branch,” highlighting a delicious and healthy meal before departure.

 
EGGDROP Incheon Airport is located on the 4th floor of the duty-free area on the west side of Terminal 1 at Incheon International Airport. The daily peak customer count has risen by over 70% from 700 in January 2023, the first month after opening, to more than 1,200 in May 2023, and the cumulative number of customers surpassed 100,000 on May 13, 2023. Sales have also experienced a corresponding increase, demonstrating the enduring strength of Korea's leading premium sandwich and its pivotal role in driving the K-food trend.
 
The Mr. EGG sandwich stands out as one of the sought-after item among visitors. This tantalizing creation appeals to both Koreans and foreigners, earning popularity for its unique flavors.
 
“For passengers about to board a flight, the EGGDROP sandwich offers ‘a simple yet satisfying’ meal,” said Lee Ah-rim, a member of Golden Hind's marketing team.
 
Prior to opening the Incheon Airport store in December 2022, EGGDROP made its international debut with the inauguration of its first global store in Bangkok, Thailand. The company is now preparing to open its second and third branches in Bangkok.
 
“The opening of the Incheon Airport store is an integral part of EGGDROP’s strategy to reinforce its brand influence through collaborations with various K-contents, enhancing awareness, and expanding its global customer base,” said Noh Young-woo, CEO of Golden Hind.

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AT&S MALAYSIA CELEBRATES ROOF CLOSING AND FIRST TOOLS MOVED IN FOR ITS FIRST PRODUCTION PLANT IN KULIM HI-TECH PARK

The timely achievement of two key milestones for the first production plant of AT&S Kulim Site was celebrated in the presence of AT&S Microelectronics Business Unit Executive Vice President and Member of the Board, Ingolf Schroeder, with key management figures from AT&S Malaysia.
 
KULIM, Malaysia, June 1 (Bernama) -- Another two key milestones have been achieved at AT&S Kulim Site as the key executives of AT&S from Austria and Malaysia celebrated the roof closing of its first production plant and the moving in of first set of tools. At the Roof Closing Ceremony, they were brought to the roof top and inked their signatures on the roof deck, followed by drilling golden bolt nuts to join two miniature roof decks on a piece of memento to commemorate the event.
 
At AT&S Kulim site, there are approximately 5,000 construction workers performing different construction tasks at site, 24/7, to deliver the fast track construction progress. The first crate of equipment was delivered on 27 February 2023. To-date, more than 1,400 crates of equipment have been moved into the production plant.
 
In this internal celebratory event, AT&S Microelectronics Business Unit Executive Vice President, Ingolf Schroeder, commends, “I am tremendously delighted by the achievement of these two key milestones - roof closing and first tools moved in - within 15 months after we broke the ground for the construction of the first production plant. They are victoriously accomplished after overcoming enormous health (pandemic), resources and logistical challenges. Our team has exemplified creative problem-solving skills and high team spirit. I am truly grateful for having such an amazing team planning and executing the project diligently and professionally. At AT&S, we commit to deliver an exceptionally high standard of performance to our customers and stakeholders."
 
AT&S Malaysia Managing Director, Vittorio Villari, who is spearheading Kulim project says, “The set-up of such a big plant (K1) has been achieved thanks to a pool of experience talents and a matured E&E eco-system. AT&S collaborates with multinational corporations operating for more than 50 years in Malaysia, coupled with AT&S proprietary leading-edge high-end IC Substrates Technology. We remain confident that we will contribute to raising the capacity of Malaysia as a prominent exporter of Electrical & Electronics (E&E) components in the world.”
 
As for the Senior Director of Key Account of AT&S Microelectronics Business Unit, Patrick Lenhardt, acclaims at the remarkable achievements. “AT&S is proud to have secured a long-term supply agreement with a major semiconductor industry player as the lead customer for Kulim plant and that will soon become one of the largest customers for AT&S. The excellent execution of the Kulim project to date has boosted the confidence of our customer and laid a very strong foundation for a successful future partnership.”
 
Markus Sterba, AT&S Malaysia Technical Project Director, whose contribution is pivotal for the success, elaborates further, “Congratulations to our construction team in AT&S Kulim and our counterparts in AT&S Chongqing who have provided us great support. The joint effort has generated such a phenomenal achievement. We have successfully delivered the milestones we communicated to the market in 2021 with the excellent teamwork and members who have made sacrifices to get work done within a short time. We are indeed proud of them and thankful to our partners.”
 
AT&S Malaysia is working towards the next few milestones, Completion of the First Production Plant, Installation & Qualification of the Tools, Product Qualification, that are aimed to achieve by early 2024 and then, another milestone of Starting the Ramp-Up for Serial production by end of 2024. The second production plant will obtain its Certificate of Completion and Compliance (CCC) by early 2024 but the installation of the infrastructure and production equipment is dependent on the dynamics of the global market.
 
The two production plants of Phase 1 for AT&S Kulim Project will utilise 160,000m³ of concrete and 24,000 tons of steel. It should be noted that the amount of steel used is approximately 2.5 times the amount used to build the Eiffel Tower.
 
Source: Junzi Communications 

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MEDAIRE PARTNERS WITH STARLUX AIRLINES TO PROVIDE COMPREHENSIVE IN-FLIGHT MEDICAL ASSISTANCE AND ACCESSIBILITY TRAINING

The partnership includes comprehensive Complaints Resolution Official (CRO) training on the Air Carrier Access Act (ACAA), MedLink in-flight medical support, and Passenger Fit-to-Fly support.

Phoenix, Arizona, June 1 (Bernama-GLOBE NEWSWIRE) -- MedAire, a global provider of in-flight medical and aviation security solutions, is pleased to announce a new partnership with STARLUX Airlines, Taiwan's rapidly growing international airline. The partnership includes comprehensive Complaints Resolution Official (CRO) training on the Air Carrier Access Act (ACAA), MedLink in-flight medical support, and Passenger Fit-to-Fly support.

"STARLUX Airlines is committed to providing a premium service to our passengers while ensuring their safety and comfort. Partnering with MedAire enables us to achieve this goal while maintaining compliance with international regulations," said Brian Lin, Chief Corporate Safety Officer of STARLUX Airlines. "MedAire's expertise in training and medical support services makes them the perfect fit for our expanding operations."

The partnership commenced in December 2022 with in-person meetings and workshops in Taipei, where MedAire demonstrated its ability to meet STARLUX's needs and improve operational efficiency. In addition, MedAire's ACAA/CRO Train-the-Trainer program was instrumental in preparing STARLUX for the recent launch of its Taipei-Los Angeles route.

Bill Dolny, CEO of MedAire, said, "We are thrilled to partner with STARLUX Airlines, a forward-thinking and ambitious airline that shares our commitment to safety and quality. Our collaboration ensures STARLUX complies with ACAA regulations on top of providing exceptional in-flight medical emergency service to their passengers."

MedAire will provide STARLUX Airlines access to MedLink delivered in Chinese, offering local language capabilities and ensuring seamless support across all services. In addition, MedAire's commitment to quality and safety bolsters STARLUX's reputation.

About MedAire

MedAire is a leading provider of in-flight medical and aviation security solutions for airlines, private aviation companies, and corporate flight departments worldwide. With an extensive network of professionals and facilities, MedAire offers comprehensive support to ensure the safety and well-being of passengers and crew members.

About STARLUX Airlines

Founded in 2018, STARLUX is a luxury airline based in Taipei now serving 16 Asian destinations: Tokyo, Osaka, Fukuoka, Okinawa, Sapporo, Sendai, Macau, Penang, Kuala Lumpur, Bangkok, Singapore, Ho Chi Minh City, Da Nang, Hanoi, Manila, and Cebu. STARLUX also operates flights between Taipei and Los Angeles, providing convenient transfers for passengers traveling between Asia and North America via Taipei, and is dedicated to providing exquisite services and the utmost comfort for each passenger to enjoy an unforgettable journey. The STARLUX fleet consists of three types of new-generation Airbus aircraft—A321neo, A330neo, and A350—to provide the finest and eco-friendly journeys. 

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