Tencent has teamed up Korean online games developer Wemade Entertainment to invest KRW92 billion ($80 million) in Kakoo Talk, a popular Korean mobile messaging application.
The Chinese internet firm purchased 3.6 million shares, or a 13.8% stake, at KRW20,000 per share, while Wemade took 1 million shares, or 3.8%, according to South Korea newspaper The Chosun Ilbo. Kakoo...
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.