Greater China
Shenzhen Capital backs Chinese titanium metal producer
Shenzhen Capital Group has participated in a CNY 2.27bn (USD 321m) funding round for Yunnan National Titanium Metal, a subsidiary of Shenzhen-listed chemicals producer LB Group.
PE-backed CompareAsiaGroup merges with US-listed SPAC
CompareAsiaGroup, an Asia-focused financial products comparison platform also known as MoneyHero Group, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at an enterprise value of approximately USD 342m.
VC investors primed for exit with China Youzan reorganisation
Hillhouse Capital and Matrix Partners China are set for liquidity events after China Youzan, an e-commerce software-as-a-service (SaaS) business listed in Hong Kong, agreed to take full control of its key subsidiary for HKD 2.6bn (USD 334.5m).
China generative AI start-up Luchen gets Series A funding
Luchen Technology, a Chinese start-up specialising in artificial intelligence (AI) training, has closed a Series A round amounting to several hundred million renminbi.
Energy transition: An emerging speciality
Kerogen Capital is trying to plot a more nuanced course into energy transition than building renewables. It is one of a growing number of nascent specialists in the space.
Deal focus: Investcorp finds optimal entry point with Jianuo
Investcorp negotiated its debut China control deal in the shadow of COVID-19 but expects to see long-term gains through the target company’s exposure to electric vehicles and renewable energy
Q&A: Gobi Partners’ Thomas Tsao
Thomas Tsao, co-founder of Gobi Partners, on Chinese investors targeting Southeast Asia, the fallout from US-China tensions, fundraising and fund strategy, and what excites him about technology
China EV chassis maker U Power gets Series B funding
U Power, a China-based manufacturer of electric vehicles (EVs) and smart EV chassis, has raised several hundreds of millions of renminbi in Series B funding led by Hefei Industry Investment.
China's Biomissile secures $28m Series B
Suzhou-based Biomissile has raised CNY 200m (USD 28m) in a Series B funding round led by Kequan Capital. Existing investor Fosun Health Capital re-upped.
Blackstone buys jewellery certification business, China's Fosun exits
The Blackstone Group has paid USD 569.7m for 100% of Belgium-headquartered jewellery certification business International Gemological Institute (IGI), taking out investors including China’s Fosun Group.
China energy storage player JD Energy raises $100m
Xi’an-based energy storage company JD Energy has raised a CNY 700m (USD 100m) Series B round led by Goldstone Investment, a private investment subsidiary of CITIC Securities.
Alibaba plans IPO for PE-backed logistics unit
Cainiao Smart Logistics Group, the private equity-backed logistics unit of Alibaba Group, will be spun off via an IPO as part of the parent company’s broader restructuring effort.
Qiming hits $930m final close on latest renminbi fund
Qiming Venture Partners has closed its seventh renminbi-denominated fund on CNY 6.5bn (USD 930m), marking what it claims is China's largest local currency fundraise of 2023 to date
China's Drug Farm secures $27m in first tranche of Series C
Drug Farm, a China and US-based developer of treatments for infection and immunological diseases, has raised USD27m in the first tranche of Series C funding led by Shanghai's YD Capital.
China investors see long-term positives in demise of Oppo's chip unit
Investors in China's semiconductor industry expect the closure of local mobile manufacturer Oppo's chip design unit to clear the way for start-ups operating in the space, despite a likely near-term hit to valuations.
Investcorp completes debut China control deal
Investcorp has acquired a controlling stake in China’s Shandong Jianuo Electronics, a components supplier for the electric vehicle (EV) and renewable energy industries, for an undisclosed sum.
South by Southeast: Asia’s next growth engine?
Grouping together markets based on growth and scale is a problematic with South Asia and Southeast Asia as it was with the BRIC economies. But to some extent, investors are buying into the story
Bosch backs China’s AutoCore.ai
Bosch Ventures and Boyuan Capital - both investment units of Germany-headquartered engineering and technology giant Bosch Group - have joined a Series A extension for Chinese automotive systems software supplier AutoCore.ai.
Hong Kong family office SPAC agrees $27bn merger with Vingroup EV unit
A special purpose acquisition vehicle (SPAC) launched by the family office of Lawrence Ho, son of Macau casino tycoon Stanley Ho, has agreed to merge with the electric vehicle (EV) unit of Vietnam’s Vingroup.
China's Coherent Biopharma raises $100m
Chinese cancer-focused biotech developer Coherent Biopharma has raised about USD 100m in Series B funding featuring HM Capital.
Global LPs steer clear of China - Mergermarket Forum
Geopolitical uncertainty is making global institutional investors increasingly risk-off on Asian private equity – and on China in particular – at a time when overallocation issues are already restraining the pace of commitments to the asset class.
China's Pudu Tech raises another tranche of Series C funding
Pudu Tech, a China-based manufacturer of service robots, has raised a fourth tranche of Series C funding amounting to several hundred million renminbi (CNY 100m equates to USD 14m) from local investor Yuedu Capital.
Shunwei commits $29m to China expense management platform
Maycur, a China-based software-as-a-service (SaaS) provider specialising in corporate expense management, has raised CNY 200m（USD 29m in Series C funding from Shunwei Capital.
China autonomous driving player Mogo raises $84m
Mogo Auto, a Chinese autonomous driving solutions provider, has raised CNY 580m (USD 84m) in a Series C extension featuring Tencent Holdings.
