China
Biden clamps down on US investment in Chinese technology
US President Joe Biden has signed an executive order prohibiting outbound foreign investment in China that targets certain sensitive technologies, including semiconductors and microelectronics, quantum information technologies, and artificial intelligence...
GLP closes $556m renminbi clean energy fund
GLP Capital Partners, an alternatives fund manager controlled by warehouse operator turned logistics and infrastructure investment manager GLP, has closed a CNY 4bn (USD 556m) China clean energy fund.
Chinese grocery player Miss Fresh sells shares at $31m valuation
Chinese online grocery delivery platform Miss Fresh has agreed to sell an 88.1% stake to a third-party investor at a valuation of approximately USD 31m – one-tenth of the company’s market capitalisation when it listed in June 2021.
MBK launches sixth North Asia fund, targets $7b
North Asia-focused buyout firm MBK Partners has set a target of USD 7bn for its sixth flagship fund, according to three sources familiar with the situation.
Hong Kong's Micro Connect raises $458m Series C
Hong Kong’s Micro Connect, a financier for micro, small, and medium-sized enterprises (MSMEs), has raised USD 458m in Series C funding. It did not name the investors.
5Y seeks $700m for latest China VC fund
China-focused 5Y Capital has set a target of USD 700m for its latest venture capital fund – in line with what the manager raised in the previous vintage.
PE-backed Adlai Nortye pursues US listing
Adlai Nortye, a private equity-backed Chinese cancer drug developer that previously filed to list in Hong Kong, is now targeting an IPO in the US.
Deal focus: Topolefin finds favour as import substitution play
China-based Topolefin has gained traction thanks to breakthroughs in polymer science and the willingness of local medical equipment makers to use its components in foreign-dominated supply chains
Deal focus: AGIC eyes beauty with industrial characteristics
Pure Trade runs a network of third-party manufacturers that provide packaging to global beauty brands. AGIC saw an asset that sat neatly in its Asia-Europe industrial supply chain sweet spot
Chinese retailer KK Group files for Hong Kong IPO
KK Group, a Chinese online-to-offline lifestyle retailer that has raised more than USD 400m in venture capital funding, has filed for a Hong Kong IPO.
Longreach sells Hong Kong medical devices player to Boyu
The Longreach Group has sold Quasar Medical, a Hong Kong-headquartered medical devices manufacturer it has owned since 2019, to Boyu Capital for an undisclosed sum.
China ride-hailing platform T3 gets $140m Series A extension
T3 Go, a Chinese ride-hailing platform looking to challenge incumbent market leader Didi Chuxing, has raised more than CNY 1bn (USD 140m) in an extended Series A round of funding.
DCP sells MFS Technology to Chinese strategic for $460m
DCP Capital Partners has agreed to sell MFS Technology, a manufacturer of customised printed circuit boards (PCB) that has a presence across Asia, to Shenzhen-listed Victory Giant Technology for USD 460m.
China’s VectorBuilder becomes unicorn, files for Shanghai IPO
China-based gene delivery technology player VectorBuilder has topped up its Series C round - achieving unicorn status in the process - and filed for an IPO on Shanghai’s Star Market.
AGIC buys French beauty packaging player
AGIC Capital, a specialist in Asia-Europe cross-border deals, has acquired Pure Trade, a Paris-headquartered packaging supplier to the global beauty industry.
China polymer specialist Topolefin secures $139m Series B
Chinese polymer materials developer Topolefin Technology has raised CNY 1bn (USD 139m) in Series B funding led by local private equity firms Raystone Capital and KingRay Capital.
Q&A: SparkEdge Capital’s Linc Liu
Linc Liu, founding partner and chairman of SparkEdge Capital, a sector specialist formerly known as Ori-mind Capital, discusses new energy investment opportunities in China
Mirae Asset PE arm seeks $200m for Fund II
Maps Capital, a private equity investment arm of Mirae Asset Financial Group, has launched its second US dollar-denominated fund with a target of USD 200m.
Boyu joins $600m round for EV unit of China's Geely
Boyu Capital and Yuexiu Industrial Fund have led a USD 600m Series A round for Farizon Auto, a new energy vehicle (NEV) brand under Chinese automaker Geely.
China autonomous driving player HoloMatic raises $42m
HoloMatic, a Chinese autonomous driving start-up, has raised CNY300m (USD 42m) in Series C funding led by GAC Capital and state-owned Guangdong Technology Financial Group.
China’s Qiming appoints Qualcomm investor as venture partner
Qiming Venture Partners has appointed James Shen, previously a managing partner at Qualcomm Ventures, as a venture partner.