“Do you know a company called [name redacted]?” the colleague asked on the phone. “Yes,” I replied. I had been familiar with the firm and its business model for several years. It is a relatively small outfit based in Shanghai, not widely known and not particularly relevant to private equity. So what about it?
"Well," the colleague continued, "they want to raise a renminbi fund to invest in SMEs." I wasn't particularly surprised - it seems that everyone in China has sought to leverage slivers of proprietary...
Meituan-Dianping, the China-based online-to-offline (O2O) services platform created through the merger of two rival groups, has agreed to acquire Qiandaibao, a VC-backed point-of-sales (POS) mobile payment start-up.
Tokyo-listed kimono retailer Sagami, which is already subject to a tender offer launched by Aspirant Group, has received a competing bid from New Horizon Capital.
China has launched a RMB350 billion ($52.5 billion) private equity fund to restructure state-owned enterprises (SOEs) as part of efforts to improve operational efficiency and encourage industry consolidation.
Chinese private equity firm Orient Hontai Capital has agreed to acquire a controlling stake in US-based mobile marketing platform provider AppLovin in a transaction valued at $1.4 billion.