Greater China
Hong Kong-based Martin Mok moves on from CVC
Martin Mok, a senior managing director with CVC Capital Partners in Hong Kong, has left the firm just over a year after his arrival from EQT.
China consumer: Brand power vs traffic might
Private equity investment in China’s consumer sector has fluctuated over the past 18 months in line with the fortunes of portfolio companies. Applying TMT logic to brand building didn’t help
China game engine developer Cocos raises $50m
Cocos Technology, a China-based game engine developer, has raised USD 50m in Series B round from CCB Trust, GGV Capital, and voice and video communication platform Agora.
Sequoia targets USD 7.1bn for latest China vintage
Sequoia Capital has defied a difficult China fundraising environment to set a target of USD 7.1bn for its latest set of funds, which include an expansion vehicle in addition to the existing growth strategy.
1Q analysis: Monetising managers
Baring Asia and PAG underline the value of their management entities; exits slump amid uncertainty; BGH Capital, renminbi GPs shore up fundraising; investment fails to extend the late 2021 flourish
China metaverse infrastructure start-up raises $130m
Chinese metaverse start-up Xmov has raised USD 130m in Series B and Series C funding featuring SoftBank Vision Fund, Sequoia Capital China, Northern Light Capital, and Index Ventures.
ShawKwei buys Australia beauty, healthcare company
ShawKwei & Partners has acquired Australia’s Rauxel, a beauty and healthcare industry supplier, for an undisclosed sum. It will be merged with existing portfolio company Icons Beauty Group.
Hosen closes $280m single asset continuation fund for Kilcoy
Hosen Capital, which makes investments in China’s consumer space, has closed a USD 280m single-asset continuation fund for Kilcoy Global Foods, a beef processing business it has owned since 2013.
China’s XVC raises $274m for third US dollar fund
Beijing-based venture capital firm XVC has raised USD 274m for its third US dollar-denominated vehicle. It brings overall assets under management to USD 1.2bn.
China's METiS Pharmaceuticals raises $150m
METiS Pharmaceuticals, a Hangzhou-based drug formulation company has raised USD 150m through two funding rounds led by PICC Capital and China Life PE.
Deal focus: Nio Capital gets real with Nreal
Nio Capital invested in Nreal with a view to seeing the Chinese start-up’s augmented reality glasses feature in smart cockpits in next-generation cars. The company is now pushing for scale
Taiwan's Gogoro trades up on NASDAQ following SPAC merger
Gogoro, a Taiwan-based start-up that has developed a battery-swapping technology for scooters, gained 10% on its NASDAQ trading debut following the completion of a merger with a special purpose acquisition company (SPAC) backed by the former CIO of Morgan...
China cybersecurity provider ThreatBook raises $47m
Beijing-based cybersecurity solutions provider ThreatBook has raised CNY 300m (USD 47m) in an extended Series E round led by CDH Investments, featuring existing investor Star Road Ventures.
China MSME financier raises $70m
Micro Connect, a China-based provider of financing to micro, small and medium-sized enterprises (MSMEs), has raised USD 70m in Series B funding.
Alibaba leads Series C extension for China AR start-up Nreal
Nreal, a Chinese manufacturer of augmented reality (AR) glasses that resemble normal sunglasses, has raised an extended Series C of USD 60m led by Alibaba Group.
CDH, Huaxing lead $120m Series B for China’s InnoRNA
CDH Investments and Huaxing Healthcare Fund have led a USD 120m Series B for InnoRNA, a China-based mRNA drug developer. Existing investors CPE and Fangyuan Capital re-upped.
China EV maker Eezi raises $78m
Shenzhen-based electronic vehicle (EV) manufacturer Eezi has raised a CNY 500m (USD 78m) pre-A round led by China Merchants Venture.
GP profile: DCM
Investing in China, Japan, and the US out of a single global fund, DCM sticks to a formula of small funds, concentrated portfolios, early-stage deals, and collaborative cross-border teams
Deal focus: Jade Invest rides pest control M&A boom
Having offered a blueprint for pest control consolidation globally in Anticimex, EQT wants to repeat the trick in China with Guardian Hygiene Service. It meant a 3.3x return for previous owner Jade Invest
Investment becomes Tencent's main profit driver in 2021
Investment accounted for the bulk of Tencent Holdings' annual profit for the first time in 2021 as the Chinese technology giant saw earnings from its core business contract in the second half of the year.
China's JD Property closes $800m Series B
Warburg Pincus and Hillhouse Investment have re-upped in JD Property, the infrastructure property asset management arm of Chinese e-commerce giant JD.com, as part of a USD 800m Series B round.
PAG files for Hong Kong IPO
PAG, which has seen its assets under management (AUM) across private equity, credit, and real assets grow 6x to more than USD 50bn in the past decade, has become the first large-cap Asian manager to file for an IPO.
CBC strikes China's first royalty-based biomedicine deal
R-Bridge Fund, a credit vehicle established by healthcare-focused private equity firm CBC Group, has completed what it claims is the first royalty-backed investment in China’s biomedicine space.
China enterprise AR specialist Rokid raises $160m
Rokid, a China-based company specialising in augmented reality (AR) technology applications, has raised USD 160m in Series C funding across two tranches.