Articles by Winnie Liu
China truck logistics players Huochebang, Yunmanman agree merger
Rival Chinese online truck logistics platforms Huochebang and Yunmanman – both of which have received substantial private equity and venture funding – have agreed to merge.
Yunfeng backs Chinese automated warehouse solutions provider
Whalehouse Technology, a Shenzhen-based automated warehouse solutions provider, has completed a RMB100 million ($15 million) Series B round of funding led by Yunfeng Capital.
China cancer treatment developer receives $101m
China Venture Capital Fund, a VC vehicle backed by the Chinese government, and ChinaEquity Group have jointly led a RMB670 million ($101 million) round for 3D Medicines, which focuses on personalized diagnostics and treatment for cancer.
China's Orient Hontai fails to secure AppLovin buyout, switches to debt deal
US-based mobile marketing platform AppLovin has terminated a planned $1.4 billion acquisition by Orient Hontai Capital, a PE unit of China’s Orient Securities, after a long delay in the regulatory approval process. It has opted for a debt-based deal...
Translink Capital leads $14m round for China’s Uhouzz
Uhouzz Network Technology, a China-based online platform that provides homes sales and rental services for overseas students, has raised a $14 million Series B round led by Translink Capital.
Chinese autonomous truck start-up TuSimple gets $55m
Chinese self-driving truck technology developer TuSimple has raised a $55 million Series C round led by Hong Kong-based hedge fund Composite Capital, with participation from Sina and Zhiping Capital.
Taiwan PE: Local problem, local solution
Mutual fund managers are expected to be among the first beneficiaries of moves by the Taiwan government to cultivate a domestic PE ecosystem. Industry participants are optimistic, but they must be patient
Chinese ride-hailing operator Shouqi receives $195m Series B
Shouqi Limousine & Chauffeur, a Chinese ride-booking app backed by local transportation company Shouqi Group, has raised RMB1.3 billion ($195 million) in a Series B round across two tranches.
Tencent leads $40m round for China’s Ubtech Robotics
Tencent Holdings has led a $40 million Series C round of funding for Shenzhen-based Ubtech Robotics, a humanoid robot maker backed by CDH Investments and Goldstone Investment.
DCM leads $75m round for China's Maimai
DCM Ventures has led $75 million Series C round for Maimai, a Chinese social networking app for professionals, with participation from existing backers IDG Capital and Morningside Venture Capital.
New opportunities breed new VCs in Asia – AVCJ Forum
A byproduct of Asia’s technology boom is the emergence of a new generation of GPs that have spun out from global venture capital players and internet companies, with a view to capturing opportunities presented by this fast-moving sector.
SBCVC leads $33m round for China’s Malong Technologies
SBCVC has led a RMB220 million ($33 million) Series B round for Shenzhen-based Malong Technologies – its first investment in an artificial intelligence (AI) technology company in China.
China's Bytedance to acquire VC-backed Musical.ly
Beijing Bytedance Technology, the parent company of Chinese news aggregator Toutiao, has agreed to acquire Musical.ly, a VC-backed short video social networking platform.
NewQuest joins $31m round for China video cloud player
Asia-dedicated secondaries investor NewQuest Capital Partners has participated in a RMB208 million ($31 million) Series C round for Bokecc.com, a China-based company that offers video cloud computing solutions.
Goldman, CIC form $5b Sino-US industrial fund
Goldman Sachs and China Investment Corporation (CIC) have launched a private equity fund that is seeking to raise $5 billion to invest in US companies. The initiative is part of efforts to strengthen trade relations between the two countries.
Healthcare funds: Repeat prescription
An assortment of healthcare-focused GPs – most of them in China – have emerged to leverage rising domestic consumption and nascent medical innovation. Does domain expertise mean better deal access?
Yunfeng, Xiaomi lead $40m round for China’s Jinying
Yunfeng Capital and Chinese smart-phone maker Xiaomi have jointly led a $40 million Series B round for Beijing Jinying Technology, a China-based online content publisher. Fosun International and SIG Asia also participated.
China’s AnchorDx raises $28m Series B
AnchorDx, a China-based company that develops new clinical diagnosis products based on next-generation sequencing (NGS) technology, has raised $28 million in a Series B round led by 6 Dimensions Capital and Sijia Jianxin Fund.
Sector funds: Special forces
The proliferation of fund managers targeting relatively focused investment segments signals a new maturity in Asian private equity. The trend will evolve in step with regional markets
PE-backed China Literature raises $1.1b in HK IPO
China Literature, a PE-backed online reading unit being spun out by Tencent Holdings, has raised HK$8.3 billion ($1.1 billion) in a Hong Kong IPO.
China's Phoenix Travel gets $105m Series C
Phoenix Travel Group, a China-based travel services provider, has raised a RMB700 million ($105 million) Series C round led by CITIC Capital, Haier Capital, Legend Holdings and Legend Capital.
Sinovation leads $21m round for Chinese AI firm
Sinovation Ventures has led a $20.6 million Series B round for Zhuiyi Technology, a Shenzhen-based artificial intelligence (AI) start-up that specializes in chatbots.
GA hires ex-Actis Asia IR head to spur capital partnering
General Atlantic (GA) has hired Pamela Fang, formerly head of Actis' investor development group in Asia, as a managing director to lead its capital partnering efforts in Asia.
Qihoo 360 to relist in Shanghai via $7.6b reverse merger
Qihoo 360, a Chinese internet security software provider that was delisted in the US last year by a consortium that includes several PE investors, will relist in Shanghai through a reverse merger worth RMB50.4 billion ($7.57 billion).