Articles by Tim Burroughs
China's Snowball Finance raises $120m Series D
Snowball Finance, a Chinese online financial information platform that subsequently expanded into asset management, has raised $120 million in a Series D round of funding led by Ant Financial, Alibaba Group’s financial services affiliate.
Chinese car transaction services platform targets $150m US IPO
Cango, a private equity-backed Chinese automotive transaction services platform that brings together car dealerships, buyers, and financial institutions, is seeking to raise up to $150 million through a US IPO.
Andreessen Horowitz promotes Connie Chan to partner
Connie Chan (pictured), the executive at US venture capital firm Andreessen Horowitz responsible for managing the Asian network, has been promoted to general partner.
VC-backed 51 Credit Card completes $129m HK IPO
51 Credit Card, a Chinese online credit card management platform backed by the likes of Tiantu Capital, GGV Capital, and Shunwei Capital, raised HK$1 billion ($128.5 million) in its Hong Kong IPO.
US CIOs must see Asia if they are to get comfortable with it - AVCJ Forum
Alternatives investment officers from US institutions should involve their senior leadership teams in site visits to Asia if they want to push ahead with emerging markets investment programs, LPs told the AVCJ USA Forum.
Bain-owned Lionbridge gets funding from Baidu, Sunshine Insurance
Lionbridge, a Chinese commercial vehicle leasing business controlled by Bain Capital Private Equity, has received RMB1 billion ($150 million) in funding led by Baidu and Sunshine Capital, an investment unit of Sunshine Insurance Group.
GIC advises caution, predicts rising global volatility
GIC Private’s investment performance declined for the third consecutive year, with the sovereign wealth fund once again warning of uncertainty driven by high asset valuations, increased risk of monetary policy tightening, and international trade tensions.
Emerging China VCs target differentiation in deal sourcing - AVCJ Forum
China’s emerging venture capital firms are seeking an edge in a competitive market through differentiated deal sourcing – offering a more personalized service than their more established counterparts or simply making bets that confound conventional...
Asia exits have 'never been easier,' GPs say - AVCJ Forum
Private equity exits in Asia are on a roll, driven by rising Chinese strategic interest and the emergence of larger pan-regional private equity firms looking for secondary buyouts, industry participants told the AVCJ USA Forum.
Meituan-Dianping GP closes consumer fund at $300m
Longzhu Capital, a venture capital firm established by Chinese online-to-offline (O2O) services platform Meituan-Dianping, has closed its debut fund at RMB2 billion ($300 million).
Singapore VC: Filling the gap
Investors are pursuing a number of strategies for addressing Southeast Asia's late-stage VC funding shortfall
Chinese coffee shop chain raises $200m, achieves unicorn status
Luckin Coffee, a Chinese coffee shop chain established last year, has raised $200 million in Series A funding from GIC Private, Centurium Capital, Legend Capital, and Joy Capital. Centurium, a GP established by ex-Warburg Pincus China head David Li, is...
CIC's international portfolio generates record-high return
China Investment Corporation (CIC) posted a record-high return of 17.59% on its international portfolio in 2017 – compared to 6.22% the previous year – as the sovereign wealth fund’s total assets reached $941.4 billion.
2Q analysis: Flipping out
Flipkart sets the tone as strategics deliver tech trade sale exits; Chinese internet players and healthcare are the trendsetters in investment; buyouts, venture stand out in Asia fundraising
Southeast Asia GPs: Judgment day
With nearly every Southeast Asia-focused GP set to spend some part of 2018 on the fundraising trail, LPs must once again deliberate on the optimal fund size, strategy, and geographic coverage for the region
Goldman leads $127m round for Chinese fitness app
Goldman Sachs has led a Series D funding round worth $127 million for Keep, a Chinese mobile app that provides fitness training programs.
Unicorn raises $250m for second China fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its second fund at the hard cap of $250 million.
Tencent prepares for IPO of PE-backed music business
Tencent Holdings has taken the first step towards a US listing for its music streaming business, in which PAG Asia Capital is a minority investor.
Creador set for $430m first close on Southeast Asia, India fund
Creador has scheduled a first close of $430 million on its fourth Southeast Asia and India-focused fund and set the hard cap at $550 million.
Xiaomi raises $4.7b in Hong Kong IPO
Chinese smart phone maker Xiaomi has raised HK$37 billion ($4.72 billion) in its Hong Kong IPO at a valuation of $54 billion – well below the totals it had originally targeted.
Eight Roads leads $15m Series B for China's Kyligence
Kyligence, a Chinese big data analytics business, has received $15 million in Series B funding led by Eight Roads, with participation from Cisco and several existing investors.
Pantheon opens Tokyo office to service Japanese LPs
Pantheon has opened an office in Tokyo, having won separate account mandates from the likes of Japan’s Government Pension Investment Fund (GPIF).
C-Bridge hits $400m first close on China healthcare fund
C-Bridge Capital has reached a first close of just over $400 million on its third healthcare fund, which focuses on Chinese pharmaceutical, medical technology and healthcare services companies with proven products and technologies.
Alibaba, Tencent, Vanke join $1.5b round for CMC unit
CMC Inc, a company set up by Chinese media-focused private equity firm CMC Capital Partners to hold assets beyond a 10-year horizon, has raised RMB10 billion ($1.5 billion) in Series A funding.