China
China's Manbang trades up after $1.57b US offering
Manbang, a China trucking business that claims to be the world’s largest digital freight platform, gained 13% on debut following a $1.57 billion IPO in the US.
Warburg Pincus leads Series C for China AI drug developer
Insilico Medicine, which leverages artificial intelligence (AI) technology to speed up the drug development process, has closed a $255 million Series C funding round led by Warburg Pincus.
PE investors agree $5.7b 51job take-private
A consortium led by DCP Capital Partners has finalized terms for a $5.7 billion privatization of US-listed Chinese online recruitment platform 51job.
Chinese drug developer Abbisko files for HK IPO
PE-backed Abbisko Therapeutics, which focuses on the discovery and development of innovative and differentiated small molecule oncology therapies, has filed for a Hong Kong IPO.
Deal focus: Content to the masses
Xiaoe Tong gained traction during the pandemic in China as channel for educational content providers, big and small, to reach their customers. It is also a SaaS player that stands firm on product standardization
Fidelity backs $131m Series A for China citytech platform Venturous
Venturous Group, a Chinese smart city platform, has received $131 million in Series A funding from Fidelity, several family offices, and Benson Tan, founder of Venturous.
PE-backed China Youran Dairy loses ground after $643m HK IPO
PAG Asia Capital-backed China Youran Dairy Group raised HK$4.99 billion ($643 million) through a Hong Kong IPO but then ended its trading debut below the IPO price.
China's Nutshell Therapeutics raises $20m
Nutshell Therapeutics, a Chinese drug developer, has raised a $20 million Series A round led by Matrix Partners China.
China secondhand goods platform Zhuanzhuan raises $100m
Zhuanzhuan, a used goods trading platform and subsidiary of 58.com, China’s largest online classifieds marketplace, has raised a $100 million round led by electronics giant Xiaomi.
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.
China hair transplant business files for Hong Kong IPO
Yonghe Medical Group, a Chinese hair healthcare specialist best known for hair transplants, is targeting a Hong Kong IPO. Its largest external shareholder is CPE, formerly CITIC Private Equity.
Joy, Nio Capital invest $315m in China online used car dealer
Joy Capital and Nio Capital will invest $315 million in China-based online used car dealer Uxin, throwing their support behind the company’s pivot from a marketplace to an inventory-holding retailer.
IDG leads $120m round for China SaaS player Xiaoe Tong
Xiaoe Tong, a Chinese software-as-a-service (SaaS) provider that integrates its products with WeChat, has raised $120 million in Series D funding led by IDG Capital.
Chinese pharmaceutical platform Yaoshibang raises $270m
Chinese B2B pharmaceutical trading platform Yaoshibang has raised $270 million from Guangdong Pearl River Investment, Baidu, Sunshine Insurance, Green Pine Capital Partners, Guangzhou government-backed S Fund, and an undisclosed sovereign wealth fund.
Q&A: Yunqi Partners’ Yipin Ng
Pre-pandemic, it was unclear whether China’s software-as-a-service (SaaS) industry could achieve monetization. Much has changed since then, says Yipin Ng, co-founder and managing partner of Yunqi Partners
Deal focus: Chubby Bear thinks beyond marketplaces
B2B trading platform Chubby Bear not only wants to drive consolidation in China’s renovation materials space, but also provide exclusive products and supply chain services to contractors
Vision Fund backs Sinovation's AI consulting business
AInnovation, an artificial intelligence (AI) consulting business established by Sinovation Ventures, has completed Series D funding led by SoftBank Vision Fund II. The size of the deal was not disclosed.
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.
H Capital leads $300m round for China car trading platform
Chehaoduo, operator of China auto trading platforms Guazi and Maodou, which specialize in used and new cars, respectively, has raised $300 million in funding led by H Capital at a valuation of more than $10 billion.
China gene sequencing company raises $63m
QitanTech, a gene sequencing start-up also known as Qitan Technology, has raised a RMB400 million ($63 million) Series B round led by Hillhouse Capital and a VC arm of CDH Investments.
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.
China LiDAR specialist Hesai closes $300m Series D
Hesai Technology, a China-based developer of sensors used in autonomous driving, has raised a $300 million Series D round led by GL Ventures.