Alibaba Group
China’s Red raises $500m at $20b valuation
Chinese social e-commerce app Xiaohongshu, also known as Red, has raised a $500 million round led by Temasek Holdings and Tencent Holdings at a valuation of $20 billion, up from $3 billion in 2018.
China regulation: Shock and awe
A raft of rules, largely targeting the technology sector, has challenged business cases and thwarted exits in China. It is also contributing to tweaks in investment strategy
Hong Kong's Qupital secures $150m Series B
Hong Kong B2B financial technology provider Qupital has raised a $150 million Series B round led by Greater Bay Area Homeland Development Fund.
China e-commerce: Chaos in the community
With investor sentiment on China’s technology sector cooling, community group buying platforms are battling to conserve cash. This has done little for the government’s anti-monopoly drive
China ride-hailing app T3 Go raises $1.2b
T3 Go, a Nanjing-based ride-hailing platform, has raised a RMB7.7 billion ($1.2 billion) Series A round led by CITIC Investments. Redview Capital and Virtue Capital also took part.
Alibaba leads Series D for China cancer test kit business
Guangzhou-based Creative Biosciences, which manufacturers kits that test for colon cancer, has raised a RMB560 million ($88 million) Series D led by Alibaba Group.
Singapore's Ninja Van raises $578m Series E
Singapore-based last-mile delivery start-up Ninja Van has raised a $578 million Series E round featuring Alibaba Group.
Deal focus: Deeproute founder jumps at second chance
Deeproute.ai has risen from the ashes of China-based autonomous driving specialist Roadstar.ai, backed by some of the same investors. Now Alibaba Group has given the company its endorsement
Hong Kong's Prenetics agrees $1.25b SPAC merger
Hong Kong-based genetic testing business Prenetics has agreed to merge with a special purpose acquisition company (SPAC) sponsored by Adrian Cheng, scion of local property developer New World Development and managing partner of C Ventures, at an enterprise...
Alibaba leads $300m round for China's DeepRoute.ai
Alibaba Group has led a $300 million Series B round for DeepRoute.ai, a Chinese autonomous driving technology developer currently running a robotaxi program in downtown Shenzhen.
Warburg Pincus leads $93m round for China's Terminus
Warburg Pincus has led a RMB600 million ($93 million) Series B round for Hangzhou-based enterprise software company Terminus.
China car wash business achieves unicorn status
1km, China’s largest car wash company, has achieved a valuation of more than $1 billion on closing a Series D funding round across two tranches. It did not specify the size of the round.
Asia fintech: Platform plays
Expansion is the dominant theme in financial technology as start-ups leverage existing assets to enter new verticals, typically in lending. Which ones will become Asia’s preeminent platforms?
India's Paytm targets $2.2b domestic IPO
Paytm, India’s largest digital payments company, has filed for an INR166 billion ($2.2 billion) domestic IPO, setting up exits for several private equity investors.
China O2O services player Daojia pursues US listing
Daojia, a China-based online-to-offline (O2O) home services provider that has previously received funding from KKR, Alibaba Group, and Ping An Group, has filed for an IPO in the US.
China's Didi targeted by regulators within days of bumper US IPO
Didi completed the largest PE-backed IPO in the US in seven years by a Chinese company, but its stock was pegged back within days of launch after the country's internet regulator moved against the ride-hailing platform.
China healthcare big data player pursues US listing
Chinese healthcare big data company LinkDoc Technology, which counts New Enterprise Associates (NEA), China Broadband Capital, and Temasek Holdings among its investors, has filed for an IPO in the US.
Deal focus: A very modern Masan
Baring Private Equity Asia backed Masan Group’s bold plan to transform grocery in Vietnam because it believes the company can create an integrated consumer-retail business that is unique by Asian standards
China ride-hailing giant Didi files for US IPO
Chinese ride-hailing platform operator Didi, which has raised over $20 billion in private funding during its nine-year history and is valued at more than $60 billion, has filed to list in the US.
Alibaba Cloud to invest $1b in Asia start-ups
Alibaba Cloud, the cloud computing and artificial intelligence unit of the eponymous Chinese internet giant, has pledged to invest $1 billion in Asia Pacific start-ups over the next three years.
Tata buys majority stake in India's BigBasket
Tata Group has acquired a majority stake in India’s BigBasket, an online grocer backed significantly by Alibaba Group and several private equity investors. It has been valued previously at around $2 billion.
Alibaba, Baring Asia back Masan's Vietnam grocery push
A consortium led by Alibaba Group and Baring Private Equity Asia has invested $400 million in the combined consumer goods and grocery retail operations of Vietnam conglomerates Masan Group and Vingroup.