Asia

HTC’s smartphone chief and ex-CFO, Chialin Chang, resigns

HTC’s smartphone and connected devices president and former CFO, Chialin Chang, has resigned. The move, spotted earlier by Engadget, was announced today and is effective immediately. Chang joined the company as CFO in 2012, moving there from Goldman Sachs. He also previously ran HTC’s global sales business — before eventually becoming president of smartphones and …

JD.com’s logistics business raises $2.5B from Hillhouse, Sequoia China and others

JD.com, the Chinese e-commerce giant that is Alibaba’s closest rival, is raising giving its logistics spin-out business a huge boost after it announced that the unit is raising $2.5 billion. JD Logistics, which became a standalone business last April, is raising the investment capital from a range of backers who include Hillhouse Capital, Sequoia China, China …

Sourcify is connecting entrepreneurs directly to pre-vetted overseas factories

If you’ve ever tried to order and source products from overseas you likely know the process is broken. Factories rarely talk directly to customers and middlemen are difficult to track down and there’s usually a significant delay while you wait for them to communicate back and forth with you and the factory. There’s also the …

Vynn Capital plans maiden $40M startup fund for Southeast Asia

Southeast Asia has a new venture capital fund on the scene after Victor Chua, formerly a vice president at Gobi Ventures, launched Vynn Capital. The Kuala Lumpur-headquartered venture is founded by Chua and Singaporean Darren Chau, previously with IE Singapore, and it is targeting a $40 million total close. Chua declined to say how far advanced the …