People
Garforth joins from BGH Capital in Melbourne.
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Australian pension giants signal SE Asia appetite but scale constrains allocation
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IPOs & Markets
It has received $340 million from cornerstone investors.
Deals
About 60% of the net proceeds will be used for R&D of the company’s next-generation models.
Private Equity
GL Capital, which previously invested in ForYou Medical, will remain the company’s majority shareholder.
Rehan Anwer and David Biller will lead Asia investment banking as co-heads.
Z.AI, formerly Zhipu AI, went public in HK in Jan and raised about $4b in a follow-on share sale in July.
A deal could value the business at $700-800m including debt.
Analysis
Total funds raised, including IPOs, rose 76% YoY to $83.5b in 8M 2026.
Enflame’s debut adds to a rush of listings by Chinese companies seeking to supply AI computing chips.
Trustar acquired Amoy’s global business in 2019.
