VC-backed Chinese data center provider GDS Holdings is seeking to raise up to $269.5 million in its NASDAQ IPO. The proceeds could reach $309.9 million if the overallotment option is fully exercised.
Chinese vacation rental platform Tujia, which has several VC and PE investors, has acquired the homestay businesses of travel websites Ctrip and Qunar, strengthening its already dominant position in China’s accommodation sharing market.
China Everbright (CEL) and IDG Capital Partners have acquired a 9.3% stake in China UnionPay Merchant Services (UMS), a third-party payment provider, for RMB2 billion ($297 million).
Doumi, a China-based platform that helps people find part-time jobs, has raised $40 million in Series B funding from Hillhouse Capital, Tencent Holdings, Baidu, and food and agribusiness conglomerate New Hope Group.
Singapore's Temasek Holdings has committed $250 million to hospital operator Columbia Pacific Management for a joint venture in China.
Trustbridge Partners has led a $30 million Series B round for US-based genetic testing company Veritas Genetics.
CITIC Capital and several domestic investment funds have contributed $850 million to Tencent Holdings’ acquisition of a majority stake in Finland-based mobile game developer Supercell.
Chinese boutique investment bank and advisory firm CEC Capital Group – formerly known as China eCapital – has agreed to buy US-based counterpart Siemer & Associates (S&A).
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China-based B2B liquor-trading platform Yijiupi has raised a $100 million Series C round led by existing investor Greenwoods Asset Management.
DCL Investments, a spin-out from China-focused distressed debt and special situations investor Shoreline Capital, has closed its debut fund with more than RMB3.7 billion ($500 million) in commitments.
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Kuo-Chan Kung, partner and head of Greater China at MBK Partners – and a member of the original team that spun out from The Carlyle Group in 2005 – is leaving the firm.
Redpoint Ventures, a US early-stage venture firm, has closed its debut China VC fund at $180 million.
ZTO Express, a China logistics operator backed by investors including Warburg Pincus and Sequoia Capital, has set a target of up to $1.33 billion for its US IPO.
Indian online news aggregator Dailyhunt has raised a $25 million Series D round led by ByteDance, a Chinese VC-backed online content provider.
Shanghai-based bike rental service start-up Mobike has raised a Series C round of funding led by Hillhouse Capital, Warburg Pincus and Tencent Holdings.
China-focused GPs are cautious about partnering with Chinese corporates on outbound M&A deals, although there is increasing demand for their support in terms of identifying acquisition targets and facilitating post-investment integration.
Fundraising hits a record quarterly high, thanks entirely to Chinese government-backed vehicles; Australia, Southeast Asia compensate for investment slowdown in China; India shines on exits
Chinese corporates are becoming savvier in how they target overseas assets and engage in M&A activity, but preparation and sound advice are essential to deal execution and post-investment integration, industry participants told the China M&A Forum.
General Motors has bought a stake in Chinese car-sharing company Yi Wei Xing, which is backed by Langmafeng Ventures and Fujian Huaxing Venture Capital.
Chinese search giant Baidu has established a RMB20 billion ($3 billion) investment fund, called Baidu Capital, to target mid- and late-stage deals in the internet industry.