Greater China
Warburg Pincus returns $2b from China portfolio in 2019
Warburg Pincus generated distributions of $2 billion from its China investments last year, a record annual total for its local operation.
CITIC Capital seeks to increase McDonald's China stake
CITIC Capital is bidding for a 22% stake in the McDonald’s China and Hong Kong business held by CITIC Group, formerly its parent and now one of several shareholders.
Profile: Joy Capital's Erhai Liu
First at Legend Capital and now at Joy Capital, Erhai Liu has demonstrated a knack for spotting emerging technology trends in China and helping founders navigate the challenges of entrepreneurialism
Green Pine leads Series B for Chinese gene testing player
Chinese gene testing business AmCare Genomics Lab has raised RMB110 million ($16 m) in Series B funding led by Green Pine Capital Partners. This comes four months after the company closed an extended Series A round of RMB30 million.
Centurium backs China logistics player
Centurium Capital has invested $300 million in ANE Logistics, one of the largest LTL (Less-than-truckload) operators in China.
AVCJ Awards 2019: Deal of the Year - Mid Cap: Hangzhou UCO Cosmetics
CITIC Capital’s acquisition of Hangzhou UCO Cosmetics was predicated on the rise of China’s beauty industry, but it is also part of a broader ecosystem play
AVCJ Awards 2019: Exit of the Year - IPO: Innovent Biologics
Innovent Biologics has set a new standard for Chinese biotech, securing an innovative drug development tie-up with Eli Lilly and then completing a successful Hong Kong listing
China's Danke raises $130m in scaled back IPO
Chinese apartment rental platform Danke raised about $130 million in a smaller-than-expected US IPO that was primarily underwritten by existing private equity investors.
LPs want to see how GPs learn from mistakes in Asia
GPs should be open and transparent with LPs about their previous difficulties in order to demonstrate an ability to learn from past mistakes, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
China's I-Mab falls on US debut after $104m IPO
China-based I-Mab Biopharma traded as much as 12% lower than initial pricing following the private equity-backed company’s $104 million IPO in the US.
GPs need more than just an ESG mindset
Private equity firms must move beyond approaching investments simply with an ESG mindset and cultivate a more results-driven approach to environment, social and governance issues, industry participants told the Hong Kong Venture Capital & Private Equity...
China Feihe gains drive Morgan Stanley's investment revenue
Projected carried interest payments from Morgan Stanley Private Equity Asia’s (MSPEA) investment in Chinese dairy products company China Feihe were largely responsible for a near fivefold increase in annual investment revenue for the parent bank.
Hong Kong seeks to address carried interest concerns
The Hong Kong government has pledged to resolve uncertainty within the private equity industry on the taxation of carried interest as part of efforts to make the territory more attractive to fund managers.
Chinese 3D map provider raises $14m
Airlook, a Chinese three-dimensional map provider, has raised nearly RMB100 million ($14 million) in an extended Series B round led by GF Qianhe, the alternative investment arm of Hong Kong-listed GF Securities.
AVCJ Awards 2019: Firm of the Year - Large Cap: PAG
China’s private consumption story continues to be a driving force for PAG Asia Capital. The GP also won prizes for Deal of the Year - Large Cap and Fundraising of the Year - Large Cap
Deal focus: Baibu broadens its fabric scope
VC-backed Chinese B2B fabrics trading platform Baibu is making the transition from online marketplace to cloud-based consolidator of the country's fragmented factories
Discipline, operations key to PE success in China - DCP's Liu
Private equity investors in China should prioritize discipline on valuations and operational capabilities rather than spend their time worrying about macroeconomic risks, according to David Liu, chairman and founder of DCP Capital.
FountainVest backs China online ticketing player Maoyan
FountainVest Partners has acquired a significant minority stake in Maoyan Entertainment, a Chinese online ticketing business that completed an IPO in Hong Kong last February.
Hony commits capital to its Hong Kong-listed restaurant platform
Hony Capital has injected HK$780 million ($100 million) into Best Food Holdings, the Hong Kong-listed platform it established in 2016 to make investments in China’s food and beverage industry.
China PE: Tipping point?
Uncertainty continued to weigh on China private equity deal flow last year, leaving plenty of capital sitting on the sidelines waiting to reengage. GPs see diversification as an antidote to competition
GIC, ESR team up on $500m China venture
ESR, an Asia Pacific-focused logistics real estate platform, has formed a joint venture with Singapore’s GIC Private with a view to investing $500 million in high-quality facilities in China.
Fund focus: Unicorn prepares for turbulence in China's VC space
China-focused venture capital fund-of-funds Unicorn Capital Partners, which has raised $350 million for its latest vehicle, expects consolidation in the tech investment space as underperforming GPs flounder
Chinese cross-border e-commerce platform raises $48m
Inagora - operator of an e-commerce platform that sells Japanese premium products to Chinese customers - has raised JPY5.3 billion ($48m) from SBI holdings, pharmacy chain Sugi Holdings and Xinjin Holding, the cross-border alternative investment arm of...
China's Qiming names Grace Lee as COO
Grace Lee (pictured), has been appointed COO at Qiming Venture Partners, in addition to her existing roles as a partner and CFO – one of several people moves within the Chinese venture capital firm.
