Greater China
4Q analysis: Who wants China?
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
Deal focus: L Catterton hitches a ride with Tenways
Electric bicycle brand Tenways has built its business on European design capabilities and Asian manufacturing smarts. L Catterton is backing the two-year-old company to become a global leader
China satellite developer Minospace raises $60m
Beijing-based satellite developer Minospace has raised nearly CNY400m (USD 59.6m) across a Series B round and a Series B extension.
Southeast Asia, China GPs bullish on exits in 2023
Investors targeting Southeast Asia and China told the Hong Kong Venture Capital & Privat Equity Association's (HKVCA) Asia forum that they were encouraged by liquidity events in 2022 and expect to see more exit opportunities this year.
LPs want more transparency in Asia GP relationships
LPs are willing to back first-time managers and reengage with China, but they want to see more from GPs in return for taking these risks, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
Bain backs Asia biorefinery platform
Bain Capital Private Equity has confirmed a significant equity commitment to EcoCeres, a Hong Kong-based biorefinery. The size of the investment was not disclosed.
PAG's Shan emphasizes diversity, control in Asia private equity
Momentum has shifted towards geographically diversified pan-regional investors, control deals, and private markets following a decade dominated by China-centric funds, growth-stage technology plays, and public equities, Weijian Shan, chairman and CEO...
China's Yuze Semiconductor raises $178m
China’s Yuze Semiconductor, a specialist in single-crystal high-efficiency silicon wafers, has raised a CNY 1.2bn (USD 178m) Series B round featuring Goldstone Investment, a PE unit of CITIC Securities.
China gas station, charging pile platform Newlink secures $133m
Newlink Group, the operator of a China-based platform that helps drivers locate the best-value gas stations and charging piles, has raised CNY 900m (USD 133m) through a series of financing rounds involving three subsidiaries.
Capcon Semiconductor raises $50m
Hillhouse Capital, Cowin Capital, Chengchuang Capital, and SAIC Motor Corporation's Shangqi Capital have participated in a USD 50m extended Series B round for Capcon, a Chinese-founded supplier of semiconductor assembly and packaging equipment.
L Catterton joins round for e-bike player Tenways
Tenways, an electric bicycle manufacturer headquartered in the Netherlands with a strong supply chain in Asia, has raised CNY 300m (USD 44m) in Series A funding, including an extension led by L Catterton.
Nio Capital backs China battery recycling start-up
Nio Capital has led a Series A for China-based battery recycling start-up Ruilong Technology. The company did not disclose the exact size of the round, merely saying it amounted to several hundreds of millions of renminbi.
China's CIC becomes largest state-owned investor - report
China Investment Corporation (CIC) surpassed Japan’s Government Pension Investment Fund (GPIF) and Norway’s Norges Bank Investment Management (NBIM) to become the world’s largest state-owned investor in 2022, according to Global SWF Tracker.
Cloudview leads $221m round for China solar panel maker
China’s Cloudview Capital has led a CNY 1.5bn (USD 221m) Series B round for Astronergy, a solar panel manufacturer based in Zhejiang province.
China's Breton Technology raises $84m
Breton Technology, a China-based manufacturer of new energy mining equipment, has closed an extended Series C round of CNY 579m (USD 84.5m) from a slew of domestic investors.
PAG invests $500m in China's iQiyi
PAG has invested USD 500m in China-based online video streaming platform iQiyi through a private placement of senior convertible notes.
Hong Kong's VMS appoints PE head
Hong Kong-based multi-strategy alternatives asset manager VMS Group has appointed Jianming Zou, formerly of New Horizon Capital, as head of private equity.
China's Moore Threads closes $218m Series B
Moore Threads, a China-based designer of artificial intelligence (AI) chips, has raised CNY 1.5bn (USD 218m) in Series B funding led by China Mobile Digital New Economy Industry Fund and Hexie Health Insurance, with participation from Dianshi Capital....
Hidden Hill joins $145m round for China's Sany Heavy Truck
Sany Heavy Truck, a subsidiary of Chinese heavy equipment manufacturer Sany Heavy Industry focused on developing new energy trucks, has raised nearly CNY 1bn (USD 145m) in Series A funding.
China-linked EcarX, Lanvin complete SPAC mergers
EcarX, a smart mobility solutions provider backed by Chinese automaker Geely Auto Group, and Lanvin Group, a global luxury fashion platform established by Fosun Group, both completed mergers with US-listed special purpose acquisition companies (SPACs)....
Co-Stone leads $43m round for China biosynthesis player
Co-Stone Capital Management has led a CNY 300m (USD 43m) Series B round for Readline, a Shenzhen-based company that specialises in synthetic biology.
US regulator gets access to Chinese audits
The threat of delisting that has haunted Chinese companies that trade on US exchanges appears to have receded after the US regulators announced they had gained full access to the audits of these companies for the first time.
China solar cell manufacturer raises $72m
Temasek Holdings, Sequoia Capital China, and IDG Capital have led a CNY500m (USD 72m) Series B investment in Chinese solar cell manufacturer GCL Photoelectric Materials.
PAG closes fifth credit fund on $2.6bn
PAG has closed its fifth pan-Asian private credit fund at the hard cap with USD 2.6bn. It is said to be the largest direct lending fund raised in the region to date.