CMC Capital Partners, a Chinese private equity firm set up by Ruigang Li (pictured), formerly president of Shanghai Media Group (SMG), has closed its third US dollar-denominated fund with more than $950 million in commitments.
The final close takes CMC’s total assets under management past the $2.5 billion mark. The firm raised $350 million for its debut US dollar fund in 2014 and followed up with $600 million for a successor...
Chinese gene therapy specialist Exegenesis Bio has received $20 million in Series B funding led by Legend Capital. It will be used to support clinical development of the company’s drug portfolio.
Alibaba Group has led a $300 million round for Chinese electric vehicle (EV) manufacturer Xpeng Motors. It comes barely two weeks after the company closed an extended Series C round of $500 million.
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Hana Financial has invested KRW100 billion ($85 million) in a portfolio of Korean waste to energy (WTE) projects controlled by Global Infrastructure Partners (GIP).