HarbourVest backs IDG renminbi fund restructuring
IDG Capital has completed a renminbi fund restructuring in which assets have been transferred from one local currency vehicle to another backed by offshore investors. It is the first secondary deal of its kind to use the Qualified Foreign Limited Partner (QFLP) program.
The transaction, worth $600 million, is backed by a consortium of secondary investors led by HarbourVest Partners. It enables IDG to make distributions to existing LPs – many of them government-controlled...
More on Greater China
Latest News
China's Black Sesame completes Series C with $500m haul
Black Sesame Technologies, a China-based chipmaker specializing in autonomous driving applications, has closed a Series C extension led by SummitView Capital. This brings the size of the overall round to USD 500m.
J-Star invests Japanese courier business
Japanese lower middle-market private equity firm J-Star has made an investment of undisclosed size in air cargo transportation and courier services provider Score Japan Holdings.
Gaorong, Tsing Song back China CDMO IntellectiveBio
Gaorong Capital and Tsing Song Capital have led a CNY 500m (USD 74m) Series C for IntellectiveBio, a China-based contract development and manufacturing organisation (CDMO).
Morningside joins round for China's Epigenic Therapeutics
Morningside Venture Capital has teamed up with Kingray Capital, Trinity Innovation Fund, TigerYeah Capital, and FountainBridge Capital to provide USD 20m in angel and pre-Series A funding for Epigenic Therapeutics, a China-based gene editing specialist.