Jenny Lee, managing partner at GGV Capital, discusses the venture capital environment in China
Topics covered include: GGV targeting early- to growth-stage deals in its latest fund; cross-border transactions; how US start-ups can be successful in China; and future trends in tech sector investment.
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
Ofo, a Chinese bike-sharing company that completed its $450 million Series D round of funding less than two months ago, has received a strategic investment of undisclosed size from Ant Financial, Alibaba Group’s financial services affiliate.
A consortium led by IMM Investment has agreed to pay KRW188.2 billion ($166 million) for a 25.54% stake in Korean cosmetics manufacturer Able C&C and launched a tender offer to secure control of the business.
DeClout, a holding company focused on developing IT and cloud computing technology providers, has launched a start-up incubator via its venture capital arm in Singapore.