Expansion
China Post backs ride-hailing app Didi Chuxing
Didi Chuxing, China’s largest ride-hailing app operator which is set to acquire its rival Uber China, has received a strategic investment from China Post, a state-owned enterprise operating the official postal service in the country.
China’s K2VC closes $150m growth-stage RMB fund
K2VC, a Chinese early stage VC firm, has closed a new renminbi-denominated fund worth RMB1 billion ($150 million). It will target investments in growth-stage Chinese start-ups.
SoftBank leads $62m investment for India's Oyo
Indian budget hotel booking app Oyo has raised a INR4.1 billion ($62 million) funding round from existing investor SoftBank Group.
China female social networking site Meet You raises $151m
Meet You, a Chinese social networking platform for women, has completed a new round of funding worth RMB1 billion ($151 million), having removed its variable interest entity (VIE) structure in preparation for an onshore listing.
China’s IDG to acquire 20% of France-based Olympique Lyonnais
China’s IDG Capital Partners has agreed to take a 20% stake in OL Groupe, the holding company of French football club Olympique Lyonnais, for a total of EUR100 million ($112 million).
China’s Tencent, PCCW invest in PE-backed STX Entertainment
China’s Tencent Holdings and Hong Kong-based telecom company PCCW have made equity investments in STX Entertainment, a Hollywood film and TV studio backed by Hony Capital and TPG Capital's growth arm.
China Huace invests $64m in VC-backed Xiao Hong Chun
China Huace Film & TV has acquired a 35% stake in Xiao Hong Chun, a Chinese VC-backed video e-commerce platform, for $63.85 million.
Malaysia-based FirstFloor invests in Skeleton Technologies
Malaysian VC firm FirstFloor Capital has led a EUR13 million ($14.5 million) Series C round for Estonian energy storage system developer Skeleton Technologies to support its growth plans in Southeast Asia.
Creation, Gawa in $24m round for India's Fusion
US-based PE firm Creation Investments Capital Management and Spain's Gawa Capital have led a INR1.6 billion ($24 million) funding round for Indian financial institution Fusion Microfinance.
Deal focus: Go-Jek targets multiple verticals
As a single-country player with a dominant position across verticals ranging from transportation to payment, Indonesia-based Go-Jek is tipped to overcome its rivals. A consortium of investors has committed $550m to make this happen
Deal focus: RocketSpace plots a China trajectory
With support from HNA Group, RocketSpace wants to take its San Francisco-based co-working space and accelerator model into new markets. China is the top priority
CDIB Capital commits $30m to China outdoor sports retailer
CDIB Capital has invested RMB200 million ($30 million) in Tutwo Outdoor, a multi-brand outdoor sporting goods retailer with more than 900 stores across China.
Alibaba leads round for China VC-backed e-commerce site
Alibaba Group has led a RMB267 million ($49 million) Series C round for Shandiangou.com, a Chinese mobile shopping and delivery app backed by several VC investors.
China's Fruitday adds $15m to Series D round
Fruitday, a Chinese VC-backed e-commerce site dedicated to selling imported fruit, has received RMB100 million ($15 million) in an extended Series D round from an investment fund backed by Shanghai-listed developer Zhangjiang Hi-Tech Park.
Chinese internet giants invest $550m in Bitauto unit
Tencent Holdings, Baidu and JD.com have invested $550 million in China-based auto financing platform Yintai Capital. The business was launched by Bitauto, which previously received funding from the three internet companies as well as from PAG Capital.
KKR, Warburg Pincus join $550m round for Indonesia's Go-Jek
Indonesian mobile ride-hailing and delivery platform Go-Jek has received $550 million from investors including KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets.
RGT Capital invests in Australia's AxiCorp
RGT Capital, a multi-family office investment vehicle based in Australia, has acquired a stake in Australian investment company AxiCorp.
Vietnam's Mekong backs logistics business, adds two partners
Vietnam-focused Mekong Capital has announced the second investment from its latest fund – cold chain logistics provider ABA Corporation – and also promoted Thanh Giang Vu Pham and Truong Dieu Le to partner. It now has four partners in total.
Discovery buys stake in CMC-backed VS Media
US media company Discovery Communications has acquired a minority stake in VS Media Group, a Hong Kong-based multi-channel network (MCN) that counts China’s CMC Holdings among its investors.
China’s Yunfeng leads $100m round for English tuition site
Yunfeng Capital has led a $100 million Series C round of funding for VIPKID, an English-language learning platform that connects North American teachers with students in China. Existing investor Sequoia Capital also took part.
PICC leads $64m round for China's Neusoft Xikang
PICC Property and Casualty, a subsidiary of People's Insurance Company of China (PICC), has led a $64 million funding round for cloud-based medical and healthcare services provider Neusoft Xikang.
China's HNA supports US accelerator's global expansion
Chinese conglomerate HNA Group has agreed to invest $336 million to bankroll US start-up accelerator RocketSpace's global expansion, with a particular emphasis on China.
Warburg Pincus commits $125m to India logistics start-up
Warburg Pincus has agreed to invest up to $125 million in an India-based supply chain services start-up founded by Anshuman Singh, who previously spent nine years as head of Future Supply Chain Solutions.
Deal focus: Partners Group sees sun rising on Taiwan solar
With significant policy support for the sector, Partners Group thinks its investment in Formosa Solar could be the first of numerous sizeable deals in Taiwan renewables