Chinese online-to-offline (O2O) medicine retailer Dingdang Kuaiyao has raised RMB1 billion ($150 million) in an extended Series B round featuring Dragon Gate Investment Partners.
Sinovation Ventures is looking to raise $1 billion for a growth-stage private equity fund that will focus on introducing artificial intelligence technologies (AI) to traditional industries.
Legend Capital has closed its eighth US dollar-denominated venture capital fund at the hard cap of $500 million, continuing the rich vein of China VC fundraising.
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
FountainVest Partners has set a target of $2.8 billion for its fourth China-focused fund, with a first close of more than $1 billion expected as soon as this week.
3D Diagnostic, a diagnostics spinout from Chinese tumor immunotherapy specialist 3D Medicines, has raised RMB1.5 billion ($224 million) in funding led by CPE, formerly known as CITIC Private Equity.
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.
LPs are becoming more flexible in their due diligence, in certain cases backing managers where there has been no face-to-face interaction, but COVID-19 has underlined the importance of pre-fundraise engagement
Source Code Capital, a Chinese VC firm founded by Yi Cao, formerly a partner at Sequoia Capital China, has closed its fourth renminbi-denominated fund at RMB3.8 billion ($567 million).
Chinese insurance platform Nanyan Insurtech has raised a RMB250 million ($37 million) Series C round led by Cenova Ventures. SIG China and BlueRun Ventures both re-upped.
Miniso, a Chinese low-cost retailer backed by Hillhouse Capital and Tencent Holdings, posted a small gain on its US trading debut following a $608 million IPO.
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
Enovate, a Chinese new energy vehicle manufacturer, has raised RMB5 billion ($742 million) in a funding round led by local government industry guidance funds and state-owned banks.
Shaonian Dedao, a Chinese education app for teenagers led by former CCTV host Quanlin Zhang, has raised RMB200 million ($29 million) in a Series B funding round led by Vision Knight Capital.
China’s 3H Health Investment has led a RMB450 million ($67 million) Series B round for local genetics-based drug discovery and therapeutics developer EdiGene.
Shenzhen-based cybersecurity company BambooCloud has raised a RMB300 million ($44 million) Series C round featuring Sequoia Capital China.
Gaorong Capital has closed its fifth US dollar-denominated fund with commitments of $1.15 billion. It brings the Chinese venture capital firm's assets under management to about $4 billion.
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $100 million in the second tranche of the Series E round.
Hong Kong-based Zhaoke Ophthalmology Pharmaceutical (ZKO), a subsidiary of Lee’s Pharmaceutical, has raised a $145 million Series B round led by Hillhouse Capital and TPG Asia.
ByteDance spinout BA Capital has raised $147 million for its second renminbi-denominated fund and is also raising a US dollar vehicle. Backing consumer brands that resonate with young people underpins the investment thesis
China Creation Ventures secures $300 million for Fund II, having found that some LPs are holding back on China commitments while others are even more willing to engage
Dida Chuxing – a Chinese peer-to-peer carpooling business that subsequently expanded into ride-hailing, putting it in direct competition with longstanding market leader Didi Chuxing – has filed for a Hong Kong IPO.
Everest Medicines, a Chinese biotech start-up backed by CBC Group, performed strongly in early trading in Hong Kong following a HK$3.5 billion ($451 million) IPO.
Lufax, a Chinese online lending and wealth management platform valued at $39.4 billion following its most recent private funding round, has filed for an IPO in the US.