Ouyeel, which claims to be China’s largest online-to-offline (O2O) trading platform for the steel industry, has raised RMB2 billion ($291 million) in Series B funding at a post-deal valuation of RMB10 billion.
Contributions came from the China Structural Reform Fund, CITIC Securities and China Merchants Ventures, as well as several strategic investors. They include logistics specialist Sinotrans, Taiyuan Iron...
Beijing-based MSA Capital and Al Salam Bank-Bahrain have set up a $50 million VC fund that will target cross-border opportunities between China and the Middle East and North Africa (MENA) region.
Singapore-based online consumer-to-consumer marketplace Carousell has merged with the Southeast Asia subsidiary of Norwegian telecommunications giant Telenor Group.
China Reform Holdings, a state-owned fund manager with RMB700 billion ($100 billion) in assets under management, has launched a RMB50 billion fund that will make investments in the security industry, with a particular focus on technology-enabled services.
Chinese bitcoin mining equipment manufacturer Canaan experienced a volatile first day of trading on NASDAQ after raising $90 million in a smaller-than-expected IPO.