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Recovery fund News

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Technology

A* Capital Secures $450 Million for Third Fund with Contrarian Investment Strategy.

May 12, 2026 at 6:52 PM

Venture firm A* Capital has successfully closed its third fund, totaling $450 million. Led by Kevin Hartz and Bennett Siegel, the firm plans to focus on early-stage startups in AI, fintech, and healthcare while maintaining a disciplined investment strategy distinct from current megafund trends.

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A* Capital Secures $450 Million for Third Fund with Contrarian Investment Strategy
Technology
Solo VC Zal Bilimoria Secures $50 Million Fund to Drive Hard-Tech Innovation
Image Source : fundraiseinsider.com

Solo VC Zal Bilimoria Secures $50 Million Fund to Drive Hard-Tech Innovation.

May 7, 2026 at 1:12 PM
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Local News

Sri Lanka’s Economic Outlook: Assessing the Need for Future IMF Engagements.

An analysis of Sri Lanka's economic recovery efforts under the current IMF-backed reform program and the implications of potential future support cycles.

May 6, 2026 at 6:42 PM
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Local News

Janashakthi Foundation Partners with President’s Fund to Bolster Pediatric Healthcare.

The Janashakthi Foundation has entered a strategic partnership with the President’s Fund to provide supplementary financial assistance for children's medical treatments, aiming to bridge gaps in healthcare accessibility.

May 6, 2026 at 1:26 PM
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Hopes Fade for Recovery of Rs. 13.2 Billion Lost in Major NDB Bank Fraud
Image Source : independent.lk
Local News•
May 2, 2026 at 7:33 PM

Hopes Fade for Recovery of Rs. 13.2 Billion Lost in Major NDB Bank Fraud.

Financial experts and banking officials suggest that recovering the Rs. 13.2 billion lost in the recent NDB fraud is highly unlikely due to the funds being converted into untraceable cryptocurrency. The situation has raised concerns regarding regulatory oversight and potential repercussions from the Financial Action Task Force (FATF).

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Economy

OPEC Fund Unveils $1.5 Billion Global Economic Resilience and Trade Initiative.

April 29, 2026 at 8:12 PM

The OPEC Fund for International Development has introduced a $1.5 billion financing program, titled E-STAR, aimed at bolstering trade, economic stability, and resilience across its partner nations.

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OPEC Fund Unveils $1.5 Billion Global Economic Resilience and Trade Initiative
Image Credit : thehighstreetjournal.com
Business

LB Finance Secures $15 Million Funding Boost from Swiss Impact Investor.

Sri Lanka’s LB Finance has finalized a $15 million senior debt facility with Switzerland-based Enabling Qapital to boost MSME lending and promote financial inclusion across the nation.

April 28, 2026 at 11:31 PM
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Local News
Government Allocates Funds for Restoration of Religious Sites Impacted by Cyclone Ditwah
Image Source : adaderana.lk

Government Allocates Funds for Restoration of Religious Sites Impacted by Cyclone Ditwah.

April 28, 2026 at 11:51 AM
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Local News
Concerns Raised Over Legal Validity of 'Rebuilding Sri Lanka' Fund
Image Source : srilankamirror.com

Concerns Raised Over Legal Validity of 'Rebuilding Sri Lanka' Fund.

April 27, 2026 at 8:01 PM
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Government Confirms Security and Status of 'Rebuilding Sri Lanka' Fund
Image Source : news.lk
Local News•
April 27, 2026 at 12:04 PM

Government Confirms Security and Status of 'Rebuilding Sri Lanka' Fund.

Deputy Finance Minister Anil Jayantha Fernando has officially confirmed that the 'Rebuilding Sri Lanka' fund, established for Cyclone Ditwah relief, remains secure, with over Rs. 9.5 billion collected from 49 countries.

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Local News

People’s Bank Commits Rs. 300 Million to Nuwara Eliya Post-Cyclone Housing Recovery.

April 24, 2026 at 11:45 PM

People’s Bank has pledged Rs. 300 million to the Rebuilding Sri Lanka Fund to construct a multi-storey housing complex in Nuwara Eliya for families displaced by Cyclone Ditwah, marking a major milestone in the bank's 65th anniversary CSR efforts.

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People’s Bank Commits Rs. 300 Million to Nuwara Eliya Post-Cyclone Housing Recovery
Image Credit : magzter.com
United States
Debating a Federal Rescue: The Complexity of the Spirit Airlines Bailout Proposal
Image Source : fortune.com

Debating a Federal Rescue: The Complexity of the Spirit Airlines Bailout Proposal.

April 24, 2026 at 4:09 AM
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Technology
Fintech Startup Slash Achieves $1.4 Billion Valuation in Latest Funding Surge

Fintech Startup Slash Achieves $1.4 Billion Valuation in Latest Funding Surge.

April 16, 2026 at 7:24 PM
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Local News

IMF Emphasizes Fiscal Discipline for Sri Lanka Amid Cyclone Recovery Efforts.

The IMF has urged Sri Lanka to maintain fiscal discipline under the Public Financial Management Act while navigating the economic impact of Cyclone Ditwah. Officials indicate the primary expenditure limit of 13% of GDP may be exceeded to fund reconstruction efforts.

April 10, 2026 at 1:44 AM
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BNY Introduces $6,500 Down Payment Assistance to Support Employees in Housing Crisis
Image Source : benefitslink.com
United States•
April 8, 2026 at 11:53 AM

BNY Introduces $6,500 Down Payment Assistance to Support Employees in Housing Crisis.

As housing affordability declines, BNY has launched a new program providing $6,500 in down payment assistance to U.S. employees earning $100,000 or less to help them achieve homeownership.

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Local News

Archaeology Department Faces Budget Reductions Due to Inactive Spending.

April 3, 2026 at 12:00 AM

The Department of Archaeology in Sri Lanka is set to face future budget cuts after admitting to the Committee on Public Accounts (COPA) that significant portions of their Cabinet-approved funds remained unutilized.

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Archaeology Department Faces Budget Reductions Due to Inactive Spending
Image Credit : fox13seattle.com
Local News
President Dissanayake Reviews Economic Reform Milestones with IMF Mission
Image Source : thetricontinental.org

President Dissanayake Reviews Economic Reform Milestones with IMF Mission.

April 2, 2026 at 12:06 PM
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