Articles by Larissa Ku
Vision Fund: Big is beautiful?
Previously the sole elephant in Asia’s growth-stage technology space, SoftBank’s Vision Fund program is now one of a herd. Prevailing amid increased competition may prove its thesis once and for all
Deal focus: Digital brokerage Ajaib finds the right fit
Ajaib grew from nothing to become Indonesia’s fifth-largest stockbroker by volume in the space of six months. The newly appointed unicorn is now raising capital just as quickly
Fund focus: Yunqi reaffirms its enterprise focus
Yunqi Partners was the first Chinese GP dedicated to enterprise services and now claims to be the largest early-stage investor in the space. SaaS, in various forms, will account for the bulk of Fund III
China's Yunqi closes third US dollar fund at $300m
Yunqi Partners, an early-stage investment firm focused on enterprise software and services in China, has raised $300 million for its third US dollar-denominated fund.
China's Source Code raises $1.1b renminbi fund
Chinese venture capital firm Source Code Capital has raised RMB7 billion ($1.1 billion) for its fifth renminbi-denominated fund after approximately three months in the market.
China biotech start-up LianBio files for US IPO
LianBio, a two-year-old Chinese biotech start-up incubated by life sciences investor Perceptive Advisors, has filed for a US IPO.
China Renaissance hits first close on flagship US dollar fund
Huaxing Growth Capital, a new economy-focused private equity division of China Renaissance, has reached the first close on its fourth US dollar-denominated fund of $550 million.
Indonesia fintech start-up Ajaib achieves unicorn status
Ajaib, an online stock-trading platform in Indonesia, has raised $153 million in a Series B funding round led by DST Global at a valuation of $1 billion.
Chinese EV maker WM Motor raises $300m
Chinese electric vehicle (EV) manufacturer WM Motor has raised $300 million in the extended Series D round led by Hong Kong telecommunication company PCCW and shipping company Shun Tak Holdings.
China SaaS: Path to profitability
COVID-19 has driven enterprise uptake of software-as-a-service solutions in China, but paying customers are still relatively few. Other markets offer some pointers on monetization
Indonesian e-commerce marketplace Ula raises $87m
Ula, a leading B2B e-commerce marketplace in Indonesia, has raised $87 million in a Series B round co-led by Prosus Ventures, Tencent Holdings and B Capital Group.
Tiger Global leads $50m round for China's DataCloak
China-based cyber security start-up DataCloak has raised $50 million in an extended Series B round led by Tiger Global Management. Existing investors Matrix Partners China, Jeneration Capital, GL Ventures and GSR Ventures re-upped.
China autonomous sanitation vehicle maker raises $250m
CowaRobot, a Chinese autonomous driving technology developer with an initial focus on sanitation vehicles, has raised $250 million in Series C funding.
China robotics player Mech-Mind raises $154m
Chinese industrial robotics supplier Mech-Mind has raised nearly RMB1 billion ($154 million) in a Series C funding round led by Meituan and IDG Capital.
Deal focus: Investors flock to SaaS specialist Ones
China’s Ones aspires to become Atlassian rather than Slack, catering to software developers working on complicated projects. Effective localization is partly responsible for a surge in VC investment
Evergrande EV unit cancels listing, suffers cash crunch
Evergrande New Energy Vehicle (NEV) Group, the Hong Kong-listed electric vehicle unit of troubled Chinese real estate developer Evergrande has canceled a planned secondary listing on Shanghai's Star Market and warned investors of a cash shortage.
China service robot player Pudu secures $77m
Pudu Robotics, a China-based manufacturer of service robots, has raised a $77 million Series C extension led by Meituan, Greater Bay Area Homeland Development Fund, Shenzhen Investment Holdings, and Sequoia Capital China.
China autonomous driving chip start-up hits $2b valuation
Black Sesame Technologies, a China-based chipmaker specializing in autonomous driving applications, has raised several hundred million dollars through two funding rounds at a valuation of $2 billion.
China AR glasses maker Nreal gets $100m Series C
Nreal, a Chinese manufacturer of advanced artificial reality (AR) glasses that resemble normal sunglasses, has raised a Series C of $100 million led by Nio Capital, Yunfeng Capital, and Hongtai Capital.
Deal focus: Vision Fund bets on service robots
COVID-19 crippled demand for restaurant service robots, so China’s Keenon Robotics pivoted towards hospitals. It has $200 million in Series D funding to target new application scenarios
Deal focus: Deeproute founder jumps at second chance
Deeproute.ai has risen from the ashes of China-based autonomous driving specialist Roadstar.ai, backed by some of the same investors. Now Alibaba Group has given the company its endorsement
Eight Roads' China hospital wins backing from Swire
DeltaHealth, a China-based cardiovascular care chain established by Eight Roads, has raised $100 million in funding led by Hong Kong-listed conglomerate Swire Pacific.
D1 Capital leads $138m round for China's Xtransfer
XTransfer, a China-based cross-border payment services provider, has raised $138 million in Series D funding led by US-based D1 Capital Partners. Existing investors also took part in the round.
SoftBank leads $200m round for China's Keenon Robotics
China-based service robot manufacturer Keenon Robotics has raised $200 million in a Series D round led by Softbank Vision Fund 2.