Deals in brief: Kickstart Ventures backs Lydia AI, Alibaba unveils USD 150 million AI fund, CATL confirms interest in Hong Kong listing, and more
Summary
Lydia AI is said to have already made strides in Taiwan and Japan, where it collaborates with financial institutions to deliver solutions tailored to diverse customer needs.Freshket, a Thai startup redefining the food supply chain for restaurants, has raised USD 8 million in a funding round led by Thai President Foods (TFMAMA) and Kliff Capital, according to Techsauce. Existing investors Openspace and ECG Venture Capital also participated.Freshket leverages technology to address inefficiencies in Thailands fragmented food supply chain. This regional fund focuses on unlocking high-potential private equity opportunities across Saudi Arabia and the GCC.Managed by Jadwa Investment, a premier investment firm in the Middle East, the fund seeks to raise SAR 1.5 billion (USD 400 million), with a hard cap of SAR 2 billion (USD 533 million).The collaboration aligns with SVCs mission to bolster Saudi Arabias private equity ecosystem by supporting startups and small to medium enterprises (SMEs), reinforcing the kingdoms commitment to economic diversification under Saudi Vision 2030.Marking its tenth anniversary, the Alibaba Hong Kong Entrepreneurs Fund (AEF) has unveiled the AEF NextGen Fund, a USD 150 million initiative designed to empower startups leveraging artificial intelligence (AI) to address structural challenges. The fund targets growth-stage companies in key industries such as financial services, healthcare, and consumer retail, offering resources and expertise to help them scale globally.The sectors that the AEF NextGen Fund will focus on are important pillars to the economy of Hong Kong and the adoption of AI can elevate the efficiency and support these industries to continue to thrive and stay competitive globally, said Cindy Chow, CEO of AEF and partner at NextGen Partners.Supported by Alibabas ecosystem and strategic partnerships with organizations like Cyberport and the Hong Kong Science and Technology Park (HKSTP), the fund aims to position Hong Kong as a global hub for AI innovation, fostering connections between Chinese and international markets.Contemporary Amperex Technology (CATL), the worlds leading electric vehicle battery manufacturer, has confirmed plans to list on the Hong Kong Stock Exchange, according to Reuters. Founded in 2016, QXME specializes in advanced chips, including insulated-gate bipolar transistors (IGBTs), catering to sectors such as electric vehicles and humanoid robotics.