Y Ventures appoints financial adviser

e-commerce firm Y Ventures Group has appointed Evolve Capital Asia as a financial adviser to conduct a strategic review of the group.

The review will include Y Ventures’ current investments, mergers, and acquisitions as well as joint ventures.

The group said there is no assurance that any transaction will materialize from the strategic review.

Recently, Y Ventures announced it would raise S$2 million via a proposed placement. Its executive chairman and director Eric Lew Chern Yong acquired a 10 percent deemed interest in the company from managing director and major shareholder, Adam Low Yik Sen, according to a report by The Business Times.

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