Articles by Winnie Liu
China launches $52.5b SOE restructuring fund
China has launched a RMB350 billion ($52.5 billion) private equity fund to restructure state-owned enterprises (SOEs) as part of efforts to improve operational efficiency and encourage industry consolidation.
China’s Neusoft partners with Israeli PE firm for $250m medtech fund
Infinity Group, a China-Israel cross-border private equity firm, has partnered with Chinese IT services provider Neusoft Corporation to launch a $250 million medical technology fund.
China K-12 education app Zuoyebang raises $60m Series B
Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu, has raised a $60 million Series B round co-led by GGV Capital and Xiang He Capital, a new VC firm set up by a former executive at Baidu.
China recruitment app Boss Zhipin raises $28m
Boss Zhipin, a Chinese recruitment app, has raised a $28 million Series C round across two tranches of funding.
Sino-US shopping app Operator raises $15m Series B
Operator, a US-based conversational shopping app, has closed a $15 million Series B round led by GGV Capital, which is intended to help accelerate its expansion in China.
Deal focus: Yao takes the fight to China
Yao Ming-backed PE firm will grow the reach of kickboxing by emphasizing similarities to Chinese fighting styles
Hony invests another $193m in Lee & Man Handbags
Hony Capital has agreed to invest HK$1.5 billion ($193 million) in convertible bonds issued by Lee & Man Handbags, a Hong Kong-listed handbag manufacturer, potentially taking its interest in the company past 80%.
FountainVest raises $2.1b for third China fund
FountainVest Partners has closed its third China-focused fund at the hard cap of $2.1 billion after approximately six months in the market
Chinese credit card management app raises $310m Series C
U51.com, a Chinese credit card management mobile app, has raised a $310 million Series C round led by A-share listed property developer Xinhu Zhongbao and domestic VC firm Tiantu Capital.
Chinese online lender FirstP2P secures $70m
FirstP2P, a Chinese online peer-to-peer (P2P) financing site, has raised a $70 million Series C round led by existing investor CCB International.
Fund focus: Sinovation gets new firepower
Innovation Works changes its name, but plans to keep focusing on China's growing tech talent
Northern Light leads Series B for China’s TenNor Therapeutics
Northern Light Venture Capital (NLVC) has led a $25 million Series B funding round for TenNor Therapeutics, a Chinese drug developer specializing in infectious diseases.
China LeEco’s smart car unit raises $1b
Leshi Internet Information and Technology, also known as LeEco, has raised $1.08 billion for its self-driving electric car project.
Linear Venture closes $70m China early-stage VC fund
Linear Venture, a Chinese early-stage VC firm founded by former Facebook and JD.com employees, has closed its second fund – which comprises US dollar and renminbi-denominated tranches – with approximately $70 million in aggregate commitments.
Qiming backs China rehabilitation services provider
Qiming Venture Partners has invested an undisclosed sum in LIH Investment & Management, a Beijing-based healthcare company that specializes in providing rehabilitation services.
Ex-Sailing Capital partner Michael Weiss joins China’s Sanpower
Michael Weiss, formerly a partner and managing director at Chinese cross-border PE firm Sailing Capital, has joined Chinese conglomerate Sanpower Group as vice president in the investment department.
Blackbird, Felicis invest $15m in Australia’s Canva
Canva, an Australian online design platform, has raised a $15 million round of funding led by existing investors Felicis Ventures and Blackbird Ventures.
VC value-add: Operational gambit
As competition for VC deals intensifies in Asia and capital becomes commoditized, GPs are stressing their value-add credentials. Should we believe the hype?
China used car platform Guazi finalizes $250m Series A round
Guazi.com, a China-based consumer-to-consumer (C2C) used car trading platform, has completed its $250 million Series A round of funding, which includes $204.5 million the company raised six months ago.
Baidu launches $200m VC fund to invest in AR, VR
Chinese search engine Baidu has launched a $200 million venture fund that will focus on next-generation technologies, such as augmented reality (AR) and virtual reality (VR).
Australia’s AirTree raises $188m VC fund
AirTree Ventures claims to have raised Australia's largest-ever venture capital fund, having closed its latest vehicle at A$250 million ($188 million)
ABF’s China cane sugar business sold to PE-backed consortium
Associated British Foods (ABF), a UK-based food processing and retailing company, has agreed to sell its cane sugar business in southern China to a PE-backed consortium led by Shenzhen-listed Nanning Sugar Industry for RMB1.68 billion ($252 million).
China’s Sinovation Ventures raises $674m across two funds
Chinese early-stage VC firm Sinovation Ventures, formerly Innovation Works, has closed its third US dollar-denominated fund and second renminbi fund, with more than $674 million in aggregate commitments.
Innovation Works launches fund with China’s Zall Group
China-based early-stage investor Innovation Works, which was founded by former Google China head Kai-Fu Lee, has teamed up with Hong Kong-listed real estate developer Zall Group to launch a private equity fund.