China
Deal focus: Russell Simmons backs Singapore's Gushcloud
Singapore-based Gushcloud International has teamed up with the founder of Def Jam Recordings to create a digital talent agency that realizes value for social media influencers in Asia and America
Chinese community group buying player receives $14m
Chujia Xinxuan – a community group buying platform under Guangzhou-based Chang Zheng Group - has received RMB100 million ($14 million) from GF Xinde Investment, an investment arm of GF securities.
Singapore's Mooncake Capital launches $100m crypto VC fund
Mooncake Capital, a Singapore-based venture capital firm focused on crypto technologies has launched an Asia-focused fund targeting $100 million.
Chinese enterprise software provider gets $35m Series A
Deepexi, a Chinese digital enterprise services provider, has raised $35 million in a Series A round led by Morningside Venture Capital, Hillhouse Capital and IDG Capital.
China's CIC prioritizes direct investment, bilateral funds
China Investment Corporation (CIC) is stepping up its private equity co-investment and direct investment activity – including through the establishment of bilateral cross-border funds – as it seeks to boost returns in increasingly unstable global...
China autonomous driving start-up receives $50m pre-A
DeepRoute, a Shenzhen-based autonomous driving solutions provider, has received $50 million in a pre-A funding round led by Fosun RZ Capital.
Green Pine raises $140m for RMB tech fund
Shenzhen Green Pine Capital Partners (GPCP) has raised RMB1 billion ($140 million) for a fund that will target artificial intelligence (AI), robotics and internet of things (IoT) investments in China.
PE consortium makes $4.6b take-private bid for China Biologic
Centurium Capital, CITIC Capital and Hillhouse Capital are part of an investor group targeting a $4.6 billion take-private of China Biologic – just over a year after committing new equity to the US-listed company to protect it from other would-be acquirers.
Deal focus: China’s CRCI targets industrial upgrades
In teaming up with China-based Estun Automation to acquire a European industrial technology asset, China Renaissance Capital Investment is pursuing a different kind of growth capital deal
China healthcare AI: A learning process
Most healthcare-focused artificial intelligence start-ups in China focus on image-based diagnosis assistance, but deep learning-based drug discovery might be the key application
CDH joins Series D for Chinese AI truck player
CDH Investments has participated in the $120 million second tranche of a Series D round for TuSimple, a China and US-based developer of autonomous driving technology for trucks.
China SOE investment: Uphill battles
Reform efforts in China’s state-owned enterprise space have experimented in mixed ownership with mixed results. Private equity investors see significant opportunity but must proceed with caution
Baidu Ventures joins Series B for China retail AI player
Baidu Ventures has joined a Series B round of undisclosed size for SandStar, a Chinese artificial intelligence (AI) developer focused on the retail sector. It brings total investment to date to $25 million.
Vertex raises $275m for China venture fund
Vertex China, a venture capital firm affiliated to Temasek Holdings-owned Vertex Holdings, has closed its fourth fund on target at $275 million.
Tencent, Sequoia lead $100m Series C for China’s Smart Fabric
Smart Fabric, a start-up that seeks to digitize China’s textile industry, has received a $100 million Series C round jointly led by Tencent Holdings and Sequoia Capital China.
Deal focus: Jingling seeks to stand out from the crowd
China’s Jingling contemplates an expansion of its social e-commerce strategy after securing a $100 million Series C round and de-risking its business model
Tencent joins $300 million round for second-hand trading platform
Tencent Holdings has joined a $300 million Series B round for Zhuanzhuan, a Chinese second-hand goods trading platform controlled by US-listed online classifieds marketplace 58.com.
PAG commits $300m to China's LexinFintech
PAG has agreed to invest $300 million in LexinFintech, a US-listed financial technology platform provider based in China.
China ends quotas on QFII, RQFII inbound investment schemes
China’s regulator announced it would abolish its QFII and RQFII investment quotas, giving global investors unrestrained access to the country’s capital markets.
China secondaries: Curious conversions
An exit lag and difficulties raising money for renminbi funds in China has created a novel opening for secondaries investors comfortable moving assets from one currency to another
China’s Sky9 raises $440m for early-stage, growth funds
Sky9 Capital, a VC firm established by former Lightspeed China executive Ron Cao, has closed its second venture fund at $321 million and also raised $119 million for a growth vehicle.
Partners Group finds proxy for China sports boom
From Adidas to Li Ning, sportswear brands are expanding aggressively in China. Recent Partners Group acquisition BCR Group is among the leaders in a $2 billion industry that furnishes new stores
Boyu leads $300m round for Chinese apartment rental player
Boyu Capital has led a $300 million Series A round of funding in Cjia.com, a serviced apartment brand created by Huazhu Hotels Group and IDG Capital.
AI risk: Watching the watchers
Facial recognition specialist Megvii is leading the integration of artificial intelligence into daily life in China. As business details come to light, investor concerns around this process are crystalizing