Fenbeitong, an enterprise payment and expense management services provider based in Beijing, has raised $36 million in an extended Series B round led by Ribbit Capital, Eight Roads Ventures and Glade Brook Capital.
Existing investors IDG Capital, China Growth Capital and Chinese Fintech group CeditEase re-upped in the round. Founded in 2016 by Xi Lan, formerly of IDG, Fenbeitong raised a RMB70 million ($10 million)...
MGI Tech, a Chinese manufacturer of gene sequencing devices, has raised more than $1 billion in funding led by IDG Capital and CPE (formerly known as Citic Private Equity).
IMM Private Equity has agreed to acquire Korea Kolmar Holdings’ pharmaceutical contract manufacturing organization (CMO) and its drug development business for KRW512.5 billion ($413 million).
Exacta Capital Partners, a Singapore-based private equity firm affiliated with Mizuho Bank, has led an acquisition of gym operator Anytime Fitness Asia for an undisclosed sum.
Marelli, a leading global automotive components supplier formed when KKR combined Japan’s Calsonic Kansei Corporation with Europe-based Magneti Marelli, has secured JPY130 billion ($1.2 billion) in additional funding to ride out a market downturn.