Source Code Capital, a Chinese VC firm founded by Yi Cao (pictured), a former partner at Sequoia Capital, has closed its third US dollar-denominated technology fund at $260 million.
The US vehicle has attracted LP commitments from several sovereign wealth funds, US foundations, pension funds, fund-of-funds and family offices. The GP is also raising its third renminbi fund, which has...
Investors appear to be discounting Asia risk in the face of rising political concerns, ranging from North Korea to Myanmar
Chinese electric vehicle maker CHJ Automotive has completed a RMB3 billion ($474 million) Series B round led by Matrix Partners China and Shougang Fund, an investment firm backed by state-owned steel producer Shougang Corporation.
Naspers has sold a small portion of its stake in Tencent Holdings – the Chinese internet giant in which it acquired an approximately one-third stake for $32 million 16 years ago – for HK$76.9 billion ($9.8 billion).
Shunwei Capital has led a $25 million Series B round for ScaleFlux, a hardware firm based in the US and China.