Bad debts accumulated by China’s state banks have been targeted by distressed asset investors for about a decade, with mixed results. The high-profile auctions of the mid-2000s that attracted the likes of Avenue Capital and Mellon are no more. Foreign investors are enjoying the most success on the fringes, pursuing assets on a smaller scale in lesser known areas.
The four asset management corporations (AMCs) set up to handle bad debts emanating from the Big Four state banks, still have about $100 billion in legacy assets on their books, much of it from 10 years...
Space Cycle, a boutique fitness studio chain operating in mainland China and Taiwan, has raised a RMB100 million ($15.6 million) Series B round of funding led by Alibaba Taiwan Entrepreneurs Fund.
Creador is targeting $500 million for its fourth Southeast Asia and India-focused fund. The private equity firm closed its previous vehicle at $415 million in late 2016.
SBI Investment, the VC arm of Japan’s SBI Holdings, has launched a JPY50 billion ($450 million) fund that will focus on artificial intelligence (AI) and blockchain technology.
Singapore’s Temasek Holdings has led a Series C round of undisclosed size for Rokid, a Chinese artificial intelligence (AI) developer focused on home automation devices.