Articles by Winnie Liu
DCM, Bertelsmann commit $10m to China’s Ucloud
Ucloud, a Chinese cloud computing service provider, has received more than $10 million in Series A funding from DCM and Bertelsmann Asia Investments.
China to modify IPO approvals system
The China Securities Regulatory Commission (CSRC) will move towards a registration-based system for IPOs in place of the current approval-based system. This is intended to make it easier for companies, especially smaller ones, to raise capital.
China’s NSSF invests in US-listed mobile games developer
The National Council for Social Security Fund (NSSF), China's state pension fund, has invested $15 million in China Mobile Games and Entertainment Group (CMGE), a US-listed mobile games operator.
Alibaba buys VC-backed mobile app analytics operator
China e-commerce conglomerate Alibaba Group has purchased Umeng, a Beijing-based mobile app analytics service provider incubated by Innovation Works.
Co-investment: Behind the buzzword
Global institutions have a growing appetite for co-investment in Asia, but not all varieties of LP have the resources or will to establish a local presence and do it properly. GPs must decide who adds value and where
Temasek, Greenwoods back Phoenix Healthcare IPO
Temasek Holdings and Shanghai-based Greenwoods Investment have made a pre-IPO investment in Phoenix Healthcare Group, picking up a 10% stake in the company for RMB165 million ($26.8 million).
Vision Knight, Softbank China back tourism site 8trip
Vision Knight Capital has led a RMB150 million ($25 million) round of funding for 8trip, a Chinese B2B online travel website. SoftBank China Venture Capital (SBCVC) also participated in the round.
Haitong Capital, Orient International launch RMB buyout fund
Haitong Capital, a PE arm of Haitong Securities, and Shanghai-based logistics company Orient International Enterprise have launched a renminbi-denominated buyout fund with a target of RMB3 billion ($493 million).
GPs warn of 'China risk' in cross-border deals - AVCJ Forum
China cross-border deals are increasingly attractive to private equity investors but the risks involved, particularly given many domestic companies don't fully grasp international business culture, are considerable.
GLP launches $3b China logistics fund
Global Logistic Properties (GLP), a Singapore-listed warehouse developer largely owned by GIC Private, has launched a $3 billion China-focused logistics infrastructure fund, capturing the opportunities in China domestic consumption and the shortage of...
Boyu Capital’s Mary Ma named as non-executive director in HK SFC
Mary Ma, co-founder and chairman of Boyu Capital, has been appointed as a non-executive director of Hong Kong Securities and Futures Commission (SFC).
Asia distress: Playing doctor
Asia appears to be destined for a spate of corporate restructurings. Although they are studying a wealth of potential investments, distress specialists say the obvious targets are not always the most accessible
LPs say Asian GPs lack long-term investment model - AVCJ Forum
Global institutional investors are becoming more cautious in allocating capital to Asian private equity funds, citing the region's weakening economic performance and concerns that GPs’ short-term investment horizons are not beneficial to the broader...
Jiuding Capital reaches first close on latest RMB fund
China’s Jiuding Capital has reached a first close of RMB1 billion ($164 million) on its latest renminbi-denominated vehicle, which has a full target of up to RMB3 billion.
Elephant Capital in Mahindra Forgings partial exit
Elephant Capital has sold nearly two-thirds of its 2.45% stake in Mahindra Forgings, an Indian forging manufacturer, to Spain's auto parts supplier CIE Automotive for INR141 million ($2.3 million).
KIC president resigns
Korea Investment Corp’s (KIC) president and CEO, Chong-Suk Choi, has resigned for personal reasons.
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
Baidu to invest in VC-backed handset manufacturer Digione
Chinese search engine giant Baidu has invested in Digione, a Shenzhen-based handset manufacturer. Financial terms were not disclosed.
Google launches incubation program in Hong Kong
Google has partnered with The Chinese University of Hong Kong (CUHK) to launch a one-year incubation program to help students and young entrepreneurs in Hong Kong build their own businesses.
CNEI invests $25.4m in Chinese drug developer
China New Enterprise Investment (CNEI) has acquired a 17% stake in Fudan-Zhangjiang Bio-Pharmaceutical (FDZJ) for $25.4 million, becoming the second-largest shareholder in the Shanghai based bio-pharmaceutical firm.
Kaiwu nears $100m mark on debut China VC fund
Kaiwu Walden Capital, a China-based early-stage venture capital firm, has so far raised $98 million for its debut fund after just over one year in the market.
Central Asia oil producer sells Kazakh assets to China PE fund
Tethys Petroleum, a Central Asia and Caspian region-focused oil and gas producer, has agreed to sell half of its Kazakhstan oil and gas assets to Sino Oil and Gas Investment (SinoHan), a subsidiary owned by Beijing-based HanHong Private Equity Group.
Hony-backed Hydoo raises $200m in HK IPO
Hydoo International Holdings, a Chinese commercial real estate developer backed by Hony Capital, has raised more than $200 million in a Hong Kong IPO.
Matrix provides Series A for Shotformats Digital Works
Matrix Partners India has provided a Series A round of funding for Shotformats Digital Works, a distribution and digital entertainment company. Financial terms were undisclosed.