Chinese electric vehicle (EV) manufacturer Xpeng Motors has closed an extended Series C round of around $500 million from a group that includes Hillhouse Capital and Sequoia Capital China, as well as hedge funds Aspex Management and Coatue Management.
The round comes at a time of uncertainty for China’s homegrown EV makers. Sales took a hit in the second half of 2019 due to a reduction in subsidies for end-consumers and then plummeted 60% year-on-year...
The long-term implications of US-China decoupling are of greater concern than the prospect of Chinese companies being forced to delist from US stock exchanges, LPs told the AVCJ China Forum.
BGH Capital has invested an undisclosed sum in TripADeal, an online travel agent that caters to the Australia and New Zealand markets.
Singapore’s Openspace Ventures has hired Jessica Huang Pouleur (pictured), formerly of Providence Equity Partners and latterly head of Asia M&A for The Walt Disney Company, as an executive director.
The Blackstone Group has made a partial exit from Indian packaging manufacturer Essel Propack (EPL) – which provides the tubes to 40% of the world’s toothpaste – generating proceeds of INR18.6 billion ($253.4 million).