VENTURE CAPITAL POST

Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.

TCC International Holdings Ltd said it received a buyout offer amounting to HKD5.59 billion (USD721 million) from its parent company, Taiwan Cement Corp, which owns 56.5% of TCC.

According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.

Billionaire and Friendster Inc. owner Vincent Tan is reportedly looking to list his online payments company MOL Global Pte., and has been eyeing a dual listing in the Kuala Lumpur Stock Exchange and either in Hong Kong or Singapore.

The Indian Angel Network, the country's oldest and largest angel investor network, is hunting for investment opportunities in the UK and Singapore. IAN expects to announce its first UK deal during the first half of 2014, while it will begin its Singapore operations in the latter half of next year.

The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.

Billionaire Zhang Zhirong offered USD589 million to take Glorious Property Holdings Ltd private, a move is seen as an effort to save a troubled shipbuilder that he founded.

With a high demand of patent agents and lawyers from mainland China, Hong Kong's quest to become the regional trading hub for intellectual property (IP), may soon be a reality as China remained the world's number one patent granter last year with 1.26 million approved applications.

Hong Kong's Shandong Weigao Group on Friday announced that it will sell its entire 21.7% stake in Biosensors International Group for USD312.3 million. The stake will be sold to CB Medical Holdings.

Hong Kong-based tech startup Multichannel raised USD3 million in a seed round from angel investors in Asia and Europe to be used for the improvement of the company's marketing spend tracker.

China's Shandong Weigao Group Medical Polymer Co Ltd announced its intention to sell its entire 21.7% stake in medical device manufacturer Biosensors International Group Ltd for USD312.3 million.

Australia-based Corporate Travel Management (CTM) announced that it is seeking to raise AUD53 million (USD49.6 million) to buy a 75.1% stake in travel service provider Westminster Travel.

NBAD Group CEO Alex Thursby identified seven highly urbanized cities where the bank would set up its operations.

Japan Exchange fell after expectations were unmet as major stocks pulled down the market.

The Department of Energy loan given to the now floundering Fisker was bought out by an investment firm headed by Richard Li.