Venture
The billion-dollar club: Asia's tech unicorns
Asia accounts for one fifth of the global tech sector’s unicorn population as companies raise larger rounds at ever higher valuations. But as investor sentiment weakens, some of these behemoths should be concerned
Chinese appliance maker to invest in Cathay's Sino-French fund
Shenzhen-listed home appliance maker Joyoung has committed EUR5 million (5.53 million) to Cathay Capital’s Sino French Innovation Fund, which is looking to invest in start-ups in France, China and the US.
China O2O delivery start-up raises $13m
Matrix Partners and Lightspeed China Partners have committed $13 million in extended Series A round of funding to 123Feng.com, a Chinese start-up provides delivery services for e-commerce and food-ordering platforms.
China car servicing platform Tuhu raises further $50m
Tuhu, a Chinese B2C auto services platform, has raised $50 million in an extended Series C round of funding led by Hillhouse Capital.
GGV seeks $1.1b for VC investments in China, US
GGV Capital is planning to raise up to $1.1 billion across three vehicles – a core venture fund, a top-up vehicle and an early-stage fund – that will target start-up and growth-stage technology deals in China and the US.
Taikang Life leads $220m round for China’s Womai
Taikang Life Insurance has led a $220 million Series C round of funding for Womai.com, an online grocery shop under Chinese state-owned food conglomerate COFCO, valuing the company at approximately $1 billion.
Google invests in VC-backed Chinese start-up Mobvoi
Google has agreed to buy a significant minority stake in Mobvoi, a Chinese voice-activated mobile search services provider, as part of a $75 million Series C round of funding.
Formation 8 backs Singapore grocery delivery service
US venture capital firm Formation 8 has led a $15 million Series A round for Singapore-based on-demand grocery delivery start-up Honestbee.
India delivery start-up Opinio gets $7m Series A round
Opinio, a hyperlocal delivery start-up based in India, has raised $7 million in a Series A round led by Indian logistics firm Delhivery. Sands Capital Ventures and existing investor Accel Partners also participated.
Q&A: Vertex China's Choon Chong Tay
Vertex Ventures’ China team recently raised their first fund independent of the Singapore parent. Managing Director Choon Chong Tay explains the organizational changes and discusses the team’s investment strategy
China’s LeTV buys control in VC-backed Yongche
Chinese media company LeTV Holdings has acquired 70% in Yongche.com, facilitating an exit for existing shareholders in the car rental and taxi-booking app.
Matrix leads $5m Series A for Hong Kong's Klook
Matrix Partners has led a $5 million Series A round of funding for Klook, a Hong Kong-based online travel start-up.
China's Wuxi Healthcare VC joins round for US genetics start-up
Wuxi Healthcare Venture, a corporate venture fund owned by China-based Wuxi Pharmatech, has participated in a $115 million Series E round of funding for 23andMe, a Silicon Valley-based genetics-testing company.
Ant Financial leads round for China VC news platform 36kr
36Kr.com, a Chinese news portal that covers venture capital and technology start-ups, has raised a Series D round of funding led by Ant Financial, an online finance affiliate of Alibaba Group.
China outbound travel site Qulv.com raises $20m
Qulv.com, a Chinese outbound travel-focused platform, has raised a $20 million Series A round of funding from domestic GP Yuantai Changqing Fund.
Monk's Hill commits $5m to Hong Kong-based Playlab
Hong Kong-based mobile game studio Playlab has raised $5 million in Series B funding from Monk's Hill Ventures.
Malaysia's Hermo raises $2m Series A led by Gobi
Shanghai-based VC firm Gobi Partners has led a $2 million Series A round of funding for Hermo, a Malaysian cross-border cosmetics e-commerce platform.
Sailing, Yunfeng lead $158m round for China’s Rong360
Sailing Capital and Yunfeng Capital have jointly led a RMB1 billion ($158 million) Series D round of funding for Rong360, a Chinese online search platform for loan products.
Australian LPs and domestic VC: Toe in the water
Australian super funds are showing renewed interests in domestic venture capital, supporting firms that offer flexible structures with co-investment opportunities. Can this approach work for all GPs?
Hong Kong vs Singapore VC: Flawed comparisons
Singapore has easily surpassed Hong Kong in terms of venture capital investment for the last four years, but that data should be assessed in the context of wider industry dynamics
Deal focus: Dianping-Meituan war reaches logical conclusion
Following the announced merger of Dianping and Meituan, further consolidation is expected in China's online-to-offline (O2O) services market
Fund focus: Venturra taps experience for SE Asia start-ups
Venturra Partners will draw on its founders' investment and entrepreneurial experience, plus a strategic connection to Lippo Group, as it helps Southeast Asian start-ups achieve scale
AngelList raises $400m from China’s CSC Group
Start-up funding platform AngelList has raised a $400 million early-stage focused fund from CSC Venture Capital, the US arm of private equity firm China Science & Merchants Investment Management Group, also known as CSC Group.
NLVC leads round for China-based English learning platform
Northern Light Venture Capital (NLVC) has led a $20 million Series B round of funding for VIPKID, a China-based English-language learning platform that targets primary and secondary school students.