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Private equity and venture capital specialist Bluestone Capital is betting on esports, having taken 25.25% stake for Rs. 31.2 million in young pioneer InGame Entertainment Ltd. Bluestone Capital Founder and CEO Ajit Gunewardene told the Daily FT that the relatively new esports industry is growing to be worth over $ 1 billion next year, with...
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The Sri Lankan economy has faced multiple headwinds in the recent past amid fears of the nation falling into an irreversible debt trap and a rapidly weakening currency against the backdrop of a strengthening greenback. Concern over the external economy therefore, has received extended coverage in the media for most of this year. STATE OF...
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Sri Lanka’s first and most innovative taxi hailing service, PickMe, has recently rolled out their newest service offering ‘PickMe Trucks’ through their award-winning smartphone app. The new service will now make the transportation of heavy goods on demand, much more convenient, safer and affordable for individuals and businesses in Sri Lanka, with the feature being...
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International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is set to invest US $ 3 to 4 million in Digital Mobility Solutions Lanka (Private) Limited, the operators of PickMe, Sri Lanka’s largest ride hailing app. “IFC’s investment will provide working capital for the expansion of company operations across Sri...
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  A new consortium comprising foreign and local institutions has acquired 100% control of Melsta Regal Finance Ltd. for an estimated Rs. 2.5 billion. The consortium comprises Fairfax Financial Holdings Ltd. of Canada, MAS Holdings, Hirdaramani and former JKH Deputy Chairman Ajit Gunewardene’s newly floated investment management arm Bluestone Capital Ltd. For the acquisition, a...
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