Venture
China food delivery app Line0 raises $30m
Chinese food delivery mobile app Line0 has completed a Series B round of funding worth $30 million, led by Tencent Holdings. Existing investors Sequoia Capital and Gobi Partners also participated.
DST, Iconiq join Series A round for Hong Kong P2P lender WeLab
DST Global founder Yuri Milner, Iconiq Capital and a joint venture between China Post and TOM Group have been added to Hong Kong-based internet finance start-up WeLab’s Series A round, taking the total raised to $20 million.
BAI invests in China mobile advertising solutions provider
Bertelsmann Asia Investments (BAI), an investment arm of German media giant Bertelsmann, has committed $10 million in Series A funding to OptAim, a Chinese mobile marketing solution provider.
IDG, Vertex lead $52.5m round for NetDragon’s online education unit
Best Assistant Education, an online education unit of China games developer NetDragon Websoft, has raised a $52.5 million Series A round led by IDG Capital Partners, Temasek Holdings-owned Vertex Venture and Shenzhen-listed animation producer Alpha Animation.
Xiaomi: The view from the top
Chinese smart phone manufacturer Xiaomi has become the world’s most valuable start-up, following a $1.1 billion round. Does its growth trajectory tally with the $45 billion price tag?
Australian cancer drug developer raises $10m Series B round
Australian biopharmaceutical start-up EnGeneIC has received $10 million in a Series B round of funding led by Boston-based healthcare specialist GRT Capital Partners.
IDG commits $3m to Chinese weather data generator
IDG Capital Partners has acquired a 10% stake in Bloomsky, a subsidiary of China’s Andon Health which develops weather data sensors, for $3 million.
Crystal Stream leads $10m round for delivery start-up Lalamove
Crystal Stream Capital has led a $10 million for Lalamove, a Hong Kong-based mobile app for on-demand delivery services.
China’s Wanda E-Commerce raises $160m
Wanda E-Commerce, a joint venture set up by China’s largest commercial property operator Wanda Group, Baidu and Tencent Holdings, has raised RMB1 billion ($160 million) from two offshore internet investment funds.
GGV leads $10m round for drone maker EHang
GGV Capital has led a $10 million Series A round for EHang, a Chinese consumer drone manufacturer.
Japan’s Incubate Fund forms $92m Internet of Things vehicle
Tokyo-based early-stage VC firm Incubate Fund has raised JPY11 billion ($91.2 million) for a vehicle that will support Japanese companies involved in the Internet of Things (IoT).
China’s Xiaomi confirms $1.1b funding round
Chinese smartphone maker Xiaomi has raised $1.1 billion further round led by Hong Kong-based All-Stars Investment. DST Advisors, Singapore’s GIC Private, Hopu Investment Management and Yunfeng Capital have also participated.
CDH halts investment on China VC fund
CDH Investments has halted deployment of its latest China venture capital fund in the wake of several departures.
Tsing Capital, WLR China fund join $44.5m round for Phononic
Tsing Capital and WLR China Energy Infrastructure Fund have participated in a Series D round of funding worth $44.5 million for Phononic, a US-based manufacturer of solid-state cooling and refrigeration devices.
Chinese insurers win approval to invest in VC funds
Chinese insurers have received regulatory clearance to invest in venture capital funds, the latest in a string of moves that are liberalizing investment channels for the sector and allowing greater exposure to alternative assets.
China's Baidu confirms investment in Uber
Chinese search engine Baidu has confirmed that it is the latest investor in Uber, the online car-ordering service that has raised an estimated $3.3 billion since its inception.
Profile: GGV Capital's Jenny Lee
Self-proclaimed geek Jenny Lee began her career working on fighter jets for the Singapore government. Now a managing partner at GGV Capital, she is backing a new generation of China start-ups
H Capital leads round for China childcare e-commerce site
H Capital has led a Series C round of funding worth $60 million for Beijing Huawang Online Commerce, which operates childcare-focused Chinese e-commerce platform Miyabaobei.com.
GGV leads Series B for China auto after-sales service platform
GGV Capital has led a $30 million Series B round of funding for Yangche Diandian, a Chinese mobile app that focuses on automotive after-sales services.
Globis invests $6.7m in Japan's Neo Career
Globis Capital Partners has led a JPY800 million ($6.7 million) round of investment in Neo Career, a Japanese firm that offers online staffing and recruitment services.
Qualcomm Ventures invests $40m in Chinese start-ups
Qualcomm Ventures - the eponymous VC arm of the US semiconductor giant - has invested $40 million in four Chinese start-ups and Walden International's latest VC fund.
Ping An VC unit leads round for social investment network
Ping An Ventures – an investment unit of China’s Ping An Insurance – and Russia-based SBT Venture Capital have led a $27 million round of funding for social investment network eToro.
China social mobile app Pengpeng raises $17m from VCs
Pengpeng, a Chinese social mobile gaming app, has raised $17 million in a Series B round of funding from KPCB China, Ventech Capital and Magic Stone Alternative Investments.
VC-backed China dating-app gains 26% on US trading debut
Chinese VC-backed mobile dating app Momo gained 26% on its first day of trading on NASDAQ following a $216 million IPO.