China
DST leads Series B for China cross-border brand Cider
Guangzhou-based cross-border fashion brand Cider has raised a $130 million Series B round led by DST Global with support from Greenoaks Capital and Andreessen Horowitz.
Deal focus: Vision Fund throws its weight behind Opay
An introduction from SoftBank Ventures Asia prompted Vision Fund 2 to lead a $400 million Series C for Nigeria-based Opay, creating Africa’s newest technology unicorn in the process
China take-privates: Holding pattern
Pressure is mounting on Chinese companies listed in New York, from domestic and US regulators. Is another wave of PE-backed take-privates imminent?
Q&A: C Ventures’ Ben Cheng
Ben Cheng, a managing partner of C Ventures, mixes lifestyle trends and corporate VC as he helps Adrian Cheng, scion of Hong Kong’s New World Development, usher the family empire into a digital future
JD.com set to assume control of China Logistics Property
China e-commerce giant JD.com has agreed to buy a 26.38% stake in Hong Kong-listed China Logistics Property Holdings (CNLP) from the company’s founder, which will trigger a mandatory takeover offer for the entire business at a valuation of more than...
China launches Beijing Stock Exchange
China has set up its first new bourse since the Shanghai and Shenzhen exchanges in 1990. Beijing Stock Exchange is expected to facilitate exits for small to medium-sized enterprises (SMEs).
China data storage software start-ups gets $110m
Boyu Capital has led a RMB710 million ($110 million) Series E round for China-based data storage software services provider XSKY.
China's Baidu Ventures closes $400m fund
Baidu Ventures (BV), a venture capital firm established by Chinese internet giant Baidu, has raised $400 million for its third US dollar-denominated fund.
China promises clampdown on illegal PE fundraising
China’s securities regulator has pledged to crack down on illegal domestic private equity fundraising, specifically products that managers claim are aimed at qualified investors but they in fact distribute to the retail market.
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.
CVC buys into Chinese pharmacy chain
CVC Capital Partners has made an investment of undisclosed size in Xi’an Yikang Pharmacy, China’s eighth-largest pharmacy chain.
China-focused NFT marketplace Cybertino raises $10m
A group of Chinese investors including Sky9 Capital, Ince Capital, and Draper Dragon have joined a $10 million round for non-fungible token (NFT) marketplace Cybertino Lab.
AGIC raises $1.2b for second Europe-Asia fund
AGIC Capital, a private equity firm that focuses on cross-border investments along the China-Europe axis, has closed its second fund with $1.2 billion in commitments.
Hong Kong’s OrbusNeich raises $200m
Hong Kong-based medical devices maker OrbusNeich Medical Group has raised about $200 million across two rounds featuring Shenzhen Capital Group and its Red Earth Healthcare Investment Fund.
Deal focus: Ekuaibao’s PaaS plus SaaS proposition
China-based reimbursement platform Ekuaibao has ambitions to lead the digital transformation of corporate finance. Early investor Future Capital continues to re-up as the story unfolds
GP profile: China Renaissance
China Renaissance’s technology-focused investment business has grown from nothing to $9.5 billion in seven years. The firm wants to remain a boutique operator rather than embrace all stages and strategies
China's Geely raises $500m for Zeekr EV unit
Zeekr, the electric vehicle (EV) business of Chinese carmaker Geely, has raised $500 million in a pre-Series A round from Intel Capital, Boyu Capital, battery manufacturer CATL, Cathay Fortune Corporation, and online entertainment platform Bilibili.
China AI player SenseTime files for Hong Kong IPO
SenseTime, a Chinese artificial intelligence (AI) technology developer that has received more than $5.2 billion in private funding in the past seven years, has filed for a Hong Kong IPO.
VCs commit $55m to China CRM player Xiaoke
Xiaoke, a China-based provider of customer relationship management (CRM) software, has raised $55 million in a Series A funding round from Hong Kong-listed Weimob, Sequoia Capital China, Welight Capital, and Creo Capital.
LAV leads $50m Series B for China's Lynk Pharma
Lilly Asia Ventures (LAV) has led a $50 million Series B round for Lynk Pharmaceuticals, a China-based drug developer that focuses on small-molecule treatments for autoimmune disease, inflammation, and cancer.
China GPU chip designer Metax raises $155m
Shanghai-based Metax Integrated Circuits has raised RMB1 billion ($155 million) in a Series A funding round led by China Structural Reform Fund and China Internet Investment Fund. Existing investors including Matrix Partners China, CTC Capital, Sequoia...
China's DayDayCook agrees $300m SPAC merger
DayDayCook, a China-focused direct-to-consumer brand that started as a cooking-themed video platform, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise valuation of $300 million.