China
Sovereign wealth: Getting creative on co-investment
Sovereign wealth funds are dialing up their direct exposure to technology and healthcare start-ups, but this trend is accompanied by a varied collection of co-investment models
Fund focus: Nexus Point secures $475m for China buyouts
Nexus Point Capital has raised $475 million for middle-market buyouts in Greater China. The team, led by ex-MBK Partners executive K.C. Kung, favors complex solutions over plain vanilla deals
Greater Bay Area: Promise keepers
The Greater Bay Area initiative plans to speed up regional integration in the Pearl River Delta, with Hong Kong set to be a major beneficiary. Questions remain about the government’s ability to follow through
Nan Fung, Pivotal China lead $80m round for Oncologie
Oncologie, a cancer drug developer with bases in Shanghai and Boston, has secured $80 million in Series B funding led by Nan Fung Life Sciences and Pivotal Bioventure Partners China.
Vivo raises $1.28b for China-US healthcare fund
US and China-focused healthcare investor Vivo Capital has raised $1.28 billion for its ninth private equity fund. The predecessor vehicle closed at $750 million in 2015.
Sequoia, Coatue lead $70m round for China's Yunquna
Sequoia Capital China and Coatue Management have a led a $70 million Series C round of funding for Yunquna, an online logistics services platform for the shipping industry.
Whale watching: Mid-cap GPs engage large-cap LPs
Recent appointments by two Asian GPs - Everstone Group and Legend Capital - offer insights into how smaller managers are trying to forge meaningful relationships with large institutional investors
Qiming leads $15m round for Indian publishing platform
Qiming Venture Partners has led a $15 million Series B round for Pratilipi, a publisher of Indian vernacular language content.
Gaorong-backed GSX Techedu loses ground after $208m US IPO
GSX Techedu, operator of Chinese online education platform Baijiahulian, raised $207.9 million in its US IPO, but a flat first day of trading was followed by a 4.6% decline on day two.
CMC backs Chinese play center operator
CMC Capital Partners has led a Series B round of more than RMB100 million ($15 million) for Neobio, a Chinese operator of children’s play centers.
Russia's sovereign fund signs tech deals with CIC, Alibaba
The Russian Direct Investment Fund (RDIF) has entered into two technology-related ventures, partnering with China Investment Corporation (CIC) on an innovation fund and teaming up with Alibaba Group among others to create a social commerce platform.
Hillhouse buys whisky producer Loch Lomond Group
Hillhouse Capital has acquired Scotland-based whisky producer Loch Lomond Group with a view to helping the company expand its presence in Asia.
Advent raises $17.5b for ninth global fund
Advent International has closed its latest global fund at the hard cap of $17.5 billion, completing its largest-ever fundraising exercise in the space of six months.
Joy Capital sets $350m target for third China VC fund
Joy Capital is seeking $350 million for its third China-focused venture capital fund, which would take the four-year-old firm’s assets under management past the $1 billion mark.
SDIC, Sherpa lead $74m round for China's EpimAb
Shanghai-based biopharmaceutical company EpimAb Biotherapeutics has raised a $74 million Series B round led by SDIC Fund Management and healthcare specialist Sherpa Healthcare Partners.
China agriculture biotech program gets $30m
An investment platform owned by the Beijing Changping regional government has committed RMB204 million ($30 million) to a partnership with Origin Agritech that will commercialize genetically modified corn seeds.
Sinovation closes $362m RMB fund, establishes GBA base
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in...
China's pet products industry: Paws for thought
China’s pet products and services industry is benefiting from closer relations between man and beast, but not every market segment will turn out a winner for private equity investors
Chinese EV manufacturer Bordrin Motor raises $362m
China-based electric vehicle (EV) maker Bordrin Motor has raised RMB2.5 billion ($362 million) in a new funding round that featured Yin An Capital, the investment arm of Sinochem International.
PE-backed Mabpharm trades down after $157m HK IPO
Mabpharm, a China-based biopharmaceutical company backed by CDH Investments, saw its stock drop almost 20% on debut following a HK$1.23 billion ($157 million) IPO in Hong Kong.
China-US tensions hinder PE fundraising, redraw investment options
Trade tensions between China and the US have held back private equity fundraising in recent months, but industry participants are also considering the long-term challenges – and opportunities – of a schism between the world’s two largest economies.
Chinese fintech player Wiseco raises $94m Series A
Chinese financial technology start-up Wiseco Technology, which provides big data-powered risk control and debt collection services, has raised RMB650 million ($94 million) in a Series A round led by Huading Capital and Sino Ocean Group.
Chinese smart robot maker gets $14m Series A
CMB International Capital has led a RMB100 million ($14 million) Series A round of funding for Robosen, a Chinese smart robot manufacturer. Yu Hu, co-CEO of local voice recognition software developer iFlytek also took part.
China GPs target tech angles in consumer plays
All China consumer deals are now technology deals, but investors must back up this positioning with meaningful value-add capabilities in areas such as digital marketing and data analytics or risk being accused of embellishing a technology thesis for the...