Articles by Larissa Ku
Sequoia leads Series B for Chinese coffee brand
Saturnbird, a Chinese coffee brand, has raised more than RMB100 million（$14 million) in a Series B funding round led by Sequoia Capital China. Existing backer Frees Fund re-upped.
Chinese drug developer Adlai Nortye raises $100m Series C
Adlai Nortye, a Chinese biopharma player specializing in cancer treatments, has raised nearly $100 million in Series C round led by Hong Kong-listed contrast research organisation (CRO) Tigermed and Shanghai-based Yingke PE.
China GPs must double down on operational skills - McKinsey
Private equity investors in China must develop new operational capabilities to deliver returns because they can no longer rely on macroeconomic tailwinds to drive growth, according to McKinsey & Company.
Qiming joins Series B for Chinese AI diagnosis player
Shukun, a Chinese start-up that develops artificial intelligence (AI) technology used in the medical imaging diagnosis, has raised RMB200 million in the third tranche of Series B round.
China data centers: Real estate plus
Valuations are rising in China’s data center industry as speculative real estate-style investors flood the market. Experienced players are willing to spend more time building scale
GL Ventures, Gaorong invest $80m in China's Kaikeba
Chinese vocational education platform Kaikeba has spun out from Huike Group and raised RMB550 million ($80 million) in Series A funding led by Gaorong Capital and GL Ventures, the VC unit of Hillhouse Capital.
KKR leads $150m round for China education platform
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $150 million in the first tranche of Series E led by KKR.
RA Capital leads round for China's Connect Biopharma
Connect Biopharma, a drug developer based in China and the US, has raised $115 million in Series C funding led by RA Capital Management.
Chinese rocket developer i-Space raises $173m
Chinese commercial rocket developer i-Space - also known as Interstellar Glory Space - has raised a RMB1.2 billion ($173 million) Series B round led by State-owned Beijing Financial Street Capital Operation Center.
China expands registration-based IPO system to ChiNext
Registration-based IPOs - which rely on information disclosures rather than regulatory approvals - have arrived on Shenzhen's ChiNext board following a successful trial on the Shanghai Star Market.
Fashion retailer C&A sells China business to local investor
Dutch fashion retailer C&A has agreed to sell its China business to Beijing Zhongke Tongrong Private Equity Investment Fund.
Chinese robotics player XYZ raises $20m
Source Code Capital has led a $20 million Series A round extension for XYZ Robotics, a Chinese start-up specializing in robotic hand-eye coordination. Other investors include Gaorong Capital and Morningside Venture Capital.
Deal focus: China's Xpeng moves into top gear
Investor appetite for Xpeng grew over the course of 2020 as China's electric vehicle industry showed signs of recovery after a difficult 2019. A $500 million Series C extension was soon followed by an IPO filing
China insurance tech platform Waterdrop receives $230m
Shuidi, a China-based insurance technology platform also known as Waterdrop, has raised $230 million in Series D funding jointly led by Tencent Holdings and Swiss Re Group. Existing investors IDG Capital and Wisdom Choice Global Fund re-upped.
China drug developer Dizal raises $100m
Chinese drug developer Dizal Pharmaceuticals has raised a $100 million round led by Lilly Asia Ventures, with participation from Sequoia Capital, Trinity Innovation Fund, and Wuxi NewForce Fund.
GL Ventures leads $130m round for China's Biren
Biren Technology, a Chinese artificial intelligence (AI) chip design company, has raised a RMB900 million ($130 million) pre-Series B round led by GL Ventures, the VC unit of Hillhouse Capital.
Xiaomi-backed Soocas raises $25m pre-IPO round
Soocas, a Shenzhen-based electric toothbrush maker backed by smart phone maker Xiaomi has raised a RMB175 million ($25 million) pre-IPO round led by Grand Flight Investment Management.
Hillhouse invests $830m in China's JD Health
Hillhouse Capital has agreed to invest $830 million in JD Health, the healthcare unit of Chinese e-commerce giant JD.com, which will remain the majority shareholder.
China children's English education platform raises $120m
Chinese children's English education platform Palfish, also known as Banyu, has raised a $120 million Series C round led by Tao Zhang, founder of Dianping.com, and FutureX Capital.
China medical device player Hanyu Medical secures $72m
China-based medical devices manufacturer Hanyu Medical has raised a RMB500 million ($72 million) Series D co-led by HighLight Capital, CPE (formerly known as CITIC Private Equity), and Yingke Private Equity.
China's VC-backed CanSino raises $748m in Star Market IPO
Chinese vaccine developer CanSino Biologics, which counts Lily Asia Ventures (LAV) and Qiming Venture Partners among its investors, has raised RMB5.2 billion ($748 million) in an IPO on Shanghai’s Star Market.
China's Vision Medicals raises $28m
CDH Investment has led a RMB200 million ($28 million) Series B round for Guangzhou-based precision diagnosis and gene sequencing company Vision Medicals.
Tencent plots merger of China live-streaming platforms
Tencent Holdings has proposed a merger of Douyu and Huya – China’s two largest game-centric live-streaming platforms. Both NASDAQ-listed companies have a number of VC investors.
Start-up profiles: Sustainability agendas
Early-stage innovators across the region are leveraging both enterprise and consumer-facing models to address sustainability challenges with one eye on rapid commercialization