Lightspeed China Partners has closed its first renminbi-denominated venture fund at RMB600 million ($87 million).
The GP launched the vehicle in June of last year with a target of RMB500 million, three weeks before announcing a final close of its third US dollar-denominated China VC fund at $260 million. The renminbi...
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.