Articles by Winnie Liu
Hony reaches $1.25b mark on latest China fund
Hony Capital has reached a first close of $1 billion on its new Greater China-focused fund and raised an additional $250 million towards a second close.
Spin-out of PE-backed SouFun set for China reverse merger
SouFun Holdings, a US-listed Chinese online real estate portal backed by the Carlyle Group and IDG Capital Partners, plans to spin out its online media and finance service units into a domestic backdoor listing.
Deal focus: Warburg Pincus backs intercity logistics
China's Yunniao wants to do for corporates in intercity delivery what Didi Kuaidi does for individuals in taxi services. Warburg Pincus has led a $100 million round to support expansion
Hong Kong's Future Fund: Securing the future
Hong Kong’s new Future Fund has initial capital of $28 billion and a remit to invest aggressively in alternatives. To understand its approach, one must understand the Hong Kong Monetary Authority
China’s Lufax raises $1.2b round
Shanghai Lujiazui International Financial Asset Exchange (Lufax), a Chinese online finance platform controlled by Ping An Insurance Group, has completed a $1.22 billion round of funding.
China Cocoon Network launches $720m European tech fund
London-based Cocoon Networks, which is backed private equity firms China Equity Group and Hanxin Capital, has launched a GBP500 million ($720 million) venture fund to invest in UK and European technology start-ups.
IFC proposes joining $700m round for Alibaba logistics unit
The International Finance Corporation (IFC) is considering investing up to $30 million in Best Logistics Technologies - a Chinese logistics business partly-owned by Alibaba Group - as part of a $700 million pre-IPO funding round.
China B2B steel-trading platform raises $153m – Update
Zhaogang.com, a Chinese B2B steel-trading platform backed by several VC investors, has completed a Series E round of funding worth RMB1.1 billion ($153 million).
CDH-owned Nanfu Battery completes China reverse merger
CDH Investments-controlled Fujian Nanping Nanfu Battery, China’s leading manufacturer of alkaline batteries, has listed on the National Equities Exchange and Quotations (NEEQ) through a reverse merger.
SBCVC commits $60m in China’s Acfun
Acfun, a Chinese social networking platform that focuses on video editing, has secured an extended $60 million Series A round of funding from SBCVC, previously known as SoftBank China Venture Capital.
Mandarin closes second Sino-European fund at $217m
Sino-European GP Mandarin Capital Partners have closed its second middle-market fund at just under EUR200 million ($217 million).
Warburg Pincus leads $100m round for China logistics player
Warburg Pincus has led a $100 million Series C round of funding for Yunniao Distribution, a platform for sourcing intercity courier services in China.
GPs on China's New Third Board: Public market oddity
A dozen Chinese private equity firms have been listed on the New Third Board in recent years, but the model is far removed from that seen in other markets and regulators are concerned
China’s Wanda buys Legendary Entertainment for $3.5b
Chinese conglomerate Dalian Wanda Group has bought leading Hollywood film production studio Legendary Entertainment for $3.5 billion in cash.
Chinese audio equipment maker Fiil raises $20m
Fiil Headphones, an audio equipment maker founded by Chinese musician Feng Wang, has raised a Series A round of funding worth $20 million.
CMC invests in China visual effects production studio
CMC Holdings, an investment platform affiliated with Chinese media-focused PE firm CMC Capital Partners, has invested an undisclosed sum in BaseFX, a Beijing-based visual effects and animation production house.
VC-backed Mogujie to acquire rival Meilishuo
VC-backed Chinese online shopping and social networking platform Mogujie has agreed to take control of rival Meilishuo.com in a stock-swap deal. It is thought the combined entity would be worth approximately $3 billion.
Beijing suspends domestic PE registrations
The Beijing government has suspended domestic private equity investment registrations in relation to suspected illegal fundraising.
Taiwan ITRI, Japan’s Mitsubishi UFJ launch VC fund
Taiwan’s Industrial Technology Research Institute (ITRI) and Japan’s Mitsubishi UFJ Financial Group have jointly set up a second venture capital fund with a target of NT$2.5 billion ($75 million).
VC-backed Qufenqi raises new round, plans domestic IPO
Qufenqi, a Chinese electronic retailer that allows buyers to pay in installments, has completed a new round of renminbi-denominated funding, having removed its variable interest entity (VIE) structure in preparation for an onshore listing.
China entertainment news app secures $15m
France-based Ventech Capital has led a $15 million Series B round of funding for Happy Juzi, a Chinese entertainment news portal.
SIG Asia joins $57m round for China online travel guide service
SIG Asia has participated in a $57 million Series D round of funding for Qyer.com, a Chinese outbound travel service provider.
Deal focus: Investors back Benlai’s cold chain solution
Chinese online grocery supplier Benlai.com raises $100 million in Series C funding to support expansion of its cold chain logistics network
China B2B steel-trading platform raises $153m
Zhaogang.com, a Chinese B2B steel-trading platform backed by several VC investors, has completed a Series E round of funding worth RMB1 billion ($153 million).