China
Chinese financial education start-up raises $100m
Erwan Technology, a China-based wealth management education platform, has secured nearly $100 million in funding across Series D and E rounds.
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
China's BangEr Orthopedic raises $46m
Chinese hospital chain operator BangEr Orthopedic has raised a RMB300 million ($46 million) Series D round led by Fortune Capital and Cenova Capital.
Sinovation sharpens focus on healthcare-plus-AI
Healthcare, rather than “rocket science,” represents the biggest opportunity for artificial intelligence (AI) applications, according to Kai-Fu Lee, chairman and CEO of China’s Sinovation Ventures.
COVID-19 changing conduct as much as tech usage
Experiences vary across geographies as Asian GPs adapt to pandemic working conditions. Technology use is up, but the most lasting changes may be more cultural in nature.
Hillhouse founder bullish on China life sciences
Lei Zhang, founder and CEO of Hillhouse Capital, emphasized the opportunities at the nexus of life sciences and artificial intelligence-enabled supercomputing, while describing his firm as “probably the largest investor in healthcare in China.”
China-based English learning platform raises $100m
Tencent Holdings and Trustbridge Partners have led a $100 million Series C funding round for Jiliguala, a Shanghai-based online English learning platform.
AVCJ Awards 2020: Fundraising of the Year - Venture Capital: Ince Capital Partners
A year after leaving Qiming Venture Partners, J.P. Gan raised $351.9 million for his debut fund at consumer internet-focused Ince Capital Partners
Chinese-owned gaming business completes $1.9b IPO
Playtika, an Israel-headquartered social and mobile games company that was acquired by a PE-backed Chinese consortium in 2016, gained 17% on its US trading debut following a $1.88 billion IPO.
China mapping start-up gets $40m Series A extension
Chinese mapping start-up Wayz.ai has raised $40 million in an extended Series A round from a range of local investors.
China's Firstred targets $500m US dollar fund
Firstred Capital, a Chinese private equity firm established by M&A veteran Xiaodan Liu, is looking to raise approximately $500 million for its debut US dollar-denominated fund.
Fund focus: Oceanpine opens to external capital
Technology and healthcare-focused Oceanpine Capital sees the large GP commitment to its fund and the network of its founder as key differentiators in a competitive Chinese market
CPE, SDIC lead $46m round for China's Jaka Robotics
Chinese industrial robot manufacturer Jaka Robotics has raised RMB300m ($46m) in Series C funding led by CPE and State Development and Investment Corporation (SDIC).
Ascendent founder sponsors SPAC targeting global deals
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has raised $300 million for global consumer technology investments.
China’s WeRide raises $310m
Chinese autonomous driving start-up WeRide has raised $310 million in Series B funding across three tranches led by Chinese electric bus manufacturer Yutong Group.
Portfolio: MSPEA and Korres
Morgan Stanley Private Equity Asia helped ethical Greek cosmetics maker Korres beef up an underweight international presence with a plan that will see China become the main growth engine
China’s CICC raises $650m for biomedical fund
CICC Capital has reached a second close of RMB4.2 billion ($650 million) on its latest healthcare fund - the first in China to receive fast-track approval for its role in addressing COVID-19.
Cathay closes second innovation fund $789m
Cathay Capital has raised EUR650 million ($789 million) for its second innovation fund, which supports start-ups in China, Europe, and North America.
China HR software start-up raises $190m
WorkTrans, a Chinese human resources services provider, has raised $190 million through two tranches, a Series C of $50 million and a Series D of $140 million.
Chinese fitness app Keep raises $360m
Keep, a Chinese mobile app that provides fitness training programs, has raised $360 million in Series F funding led by SoftBank Vision Fund.
China's Firstred closes debut renminbi fund on $1b
Firstred Capital, a Chinese growth and buyout investor in healthcare, consumer products and services, and industrial technology, has closed its debut fund with RMB6.8 billion ($1 billion) in commitments.
Sequoia leads $150m Series B for China's Visen Pharma
China’s Visen Pharmaceuticals, a drug developer targeting glandular conditions such as dwarfism and growth deficiency has raised a $150 million Series B round led by Sequoia Capital China.
China smart storage player Hive Box raises $400m
Hive Box, a China-based self-service package drop-off and pick-up operator, has received $400 million in funding from Trustbridge Partners, Asia Forge, Sequoia Capital China, Redview Capital, and All-Stars Investment. The pre-money valuation is $3 billion.
Goldman leads $50m round for China’s Perfect
Perfect Corp, a Chinese developer of online beauty apps, has raised a $50 million Series C round led by Goldman Sachs.