Alibaba is co-investing with Naspers in Tel Aviv-based Twiggle, a startup that aims to improve product searches on e-commerce websites.

Sequoia Capital China and DCM own sizeable stakes in China Online Education Group, a Beijing-based online education platform focused in English language proficiency that starts trading in NY June 10. 

Myanmar tech hub Phandeeyar has closed $2 million in follow-on investment from Omidyar Network, a global philanthropic investment firm founded by eBay founder Pierre Omidyar.

Tang Media Partners, a China-U.S. media investment firm, has acquired a majority stake in Hollywood film and TV studio IM Global from India's Reliance Group.

Ventech and PE fund Vision Knight Capital have led the Series C funding of Blued, a Chinese gay social networking mobile app.

Droom, a Gurgaon-based online marketplace for used cars, has raised some $25 million of Series B funding from Singapore's Beenet and Japan's Digital Garage, with return backers Lightbox and Beenos Partners.

Lalamove, a Hong Kong-based provider of on-demand logistics solutions, has raised $10 million in new VC funding led by MindWorks with return backers Crystal Stream (China), AppWorks (Taiwan), and Aria Group (Hong Kong) and new investor Asia Plus (Thailand).