China
GP profile: CCV
Formed through a spinout from KPCB, CCV claims to distinguish itself through a collaborative culture and a disciplined approach to portfolio construction, valuations, and landing scenarios
Creature comforts: Why PE likes pet care
Private equity investors have long championed the resilient characteristics of pet care globally. The pandemic helped solidify a similar value proposition in Asia
2Q analysis: Still scrambling
State-supported deals prop up Asia private equity investment; GPs hustle for liquidity in an unforgiving exit landscape; ex-China mid-market players gain some traction in fundraising
China chip designer Senasic raises $70m
China-based chip company Senasic has raised CNY 500m (USD 70m) in Series D funding led by state-owned Enterprises Mixed Ownership Reform Fund.
China’s Cornerstone Robotics raises $112m
China-based Cornerstone Robotics, a surgical robots specialist, has raised a CNY 800m (USD 112m) round featuring BridgeOne Capital and Lenovo Capital & Incubator Group.
China Merchants Capital moves for Bain target Chindata
China Merchants Capital is challenging Bain Capital for Chindata Group, a largely China-focused data centre operator, having submitted a USD 3.4bn all-cash offer for the US-listed company.
Legend Capital leads Series A for China CDMO CoJourney
China and US-based contract development and manufacturing organisation (CDMO) CoJourney has raised a Series A of USD 30m led by Legend Capital.
China's Keep raises $40m in Hong Kong IPO
Keep, a China-focused fitness app operator backed by the likes of GGV Capital, SoftBank Vision Fund 2, and 5Y Capital, traded up slightly on debut after raising HKD 313.5m (USD 40m) in a smaller-than-anticipated Hong Kong IPO.
China regulators look to streamline private equity oversight
Chinese Premier Li Qiang has signed off on new regulations aimed at facilitating private equity investment and guiding it into policy-aligned areas like semiconductors and biotech.
Deal focus: National team drives Hithium towards China IPO
Government and state-owned investors accounted for most, but not all, of Xiamen Hithium Energy Storage Technology’s USD 622m Series C, underlining where China’s strategic priorities lie
SDIC leads $97m Series A for China's Pyrotech Therapeutics
China-based Pyrotech Therapeutics, which develops treatments for inflammation and tumours, has raised a Series A of CNY 700m (USD 97m) led by state-owned investor SDIC Venture Capital.
Healthcare specialist CBC adds managing director
Asia healthcare investor CBC Group has appointed Billy Cho, formerly CFO of listed Chinese drug developer Zai Lab, as a senior managing director for private equity.
Boyu leads Series C for China's Space Pioneer
Boyu Capital has led a Series C round amounting to several hundred million renminbi for Space Pioneer, a China-based aerospace company. CICC Capital and Youshan Capital also participated.
PE-backed Lu Daopei Medical files for Hong Kong IPO
Lu Daopei Medical Group Holding, which runs a network of hospitals in China that specialise in the treatment of blood diseases, has filed for a Hong Kong IPO.
China's Principle Capital hits second close on dual-currency fund
Principle Capital, a Chinese private equity firm that has a strategic relationship with US-based Clayton, Dubilier & Rice (CD&R), has reached a second close of approximately USD 200m on its fifth fund.
China’s FutureX closes Fund II on $150m
FutureX Capital, which makes growth-stage technology investments in China, has closed its second US dollar-denominated fund with commitments of approximately USD 150m.
China manufacturing software player UJoin raises $14m
China-based manufacturing services business UJoin-Tech has raised a Series A of CNY 100m (USD 14m) led by Vision Plus Capital and Jinma Investment, a private equity fund launched by Ant Group and the Zhejiang provincial government.
China's Hithium Energy Storage raises $622m
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has raised a Series C round of CNY 4.5bn (USD 622m) led by Beijing Financial Street Capital and China Life Insurance's private equity unit.
Vertex China closes Fund V on $390m
Vertex Ventures China, an early-stage investor affiliated with Temasek Holdings-owned Vertex Holdings, has closed its fifth flagship fund with USD 390m in commitments.
China red envelope marketing start-up raises $28m
Saoyasao, a Chinese digital commerce service provider best known for using "red envelopes" to attract customers to offline stores, has raised a CNY 200m (USD 28m) Series A round from two local investors.
Deal focus: Gitee aspires to be more than China’s Github
FutureX Capital got onto Gitee’s shareholder register by suggesting a separation from Baidu. Now, FutureX is backing the company to leverage its status as China’s dominant open-source software player
Deal focus: Nothing’s swift evolution into something
A global brand developed by a European-Chinese founder, Nothing has made its presence felt on the idiosyncratic edges of the smart phone market. Investors have responded positively