Greater China
GGV co-leads $150m investment in China's Geek+
GGV Capital has co-led a $150 million Series C investment in Chinese industrial robotics maker Geek+ alongside US hedge fund investor D1 Capital Partners.
Chinese GPs back Nigeria’s OPay
Nigeria-based online services platform OPay has raised a $50 million funding round with participation by a number of Chinese investors, including IDG Capital, Source Code Capital, Sequoia Capital China, Meituan-Dianping, and GSR Ventures.
China's Miaoshou Doctor hits $1b valuation
Miaoshou Doctor, a Chinese online healthcare services platform that has expanded into the offline pharmacy space, has completed its extended Series C funding round, having achieved a post-deal valuation of more than RMB7 billion ($1 billion).
Tencent leads $36m round for Chinese healthcare AI start-up
Synyi, a Chinese artificial intelligence (AI) start-up that targets hospitals, has taken its total fundraising to RMB550 million ($80 million) following a RMB250 million Series C led by Tencent Holdings and featuring Sinopharm Capital.
LionRock teams up with Li Ning for China sports fund
LionRock Capital, an Asian PE firm that counts Italian football club Inter Milan among its previous investments, has launched a sports-focused fund with retailer Li Ning participating as an anchor LP.
China VC and US regulation: Defensive positions
Chinese venture capital firms and strategic investors have found their path to US tech start-ups barred by new regulations. It is possible to find a way around, but it requires compromise
Morgan Stanley-backed Feihe files for Hong Kong IPO
Feihe, a China-based dairy products manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has filed for an IPO in Hong Kong.
Centurium closes China fund at $2b
Centurium Capital, a private equity firm established by ex-Warburg Pincus China head David Li (pictured), has closed its debut US dollar-denominated fund at just over $2 billion after about 15 months in the market.
Genesis nets $850m for second China tech growth fund
Genesis Capital, a Chinese GP established by Richard Peng, who previously led investments for Tencent Holdings, has closed its second US dollar-denominated fund at the hard cap of $850 million.
China-US decoupling: Silicon curtain
Evidence is mounting that US and Chinese ecosystems for advanced technologies are careening toward an antagonistic decoupling. Investors are philosophical and pragmatic
China-US trade: Suboptimal outcomes
The China-US trade war appears set to enter new territory as legislators contemplate financial sector clampdowns including stock exchange listing restrictions. Investors are bracing for the worst
Cathay Innovation leads $35m round for China AI player Laiye
Cathay Innovation, the venture affiliate of Cathay Capital Private Equity, has led a $35 million extended Series B round of funding for Laiye Technology, a Chinese artificial technology (AI) start-up. Existing investors Lightspeed China and Wu Capital...
Chinese state-owned steel trading platform raises $291m
Ouyeel, which claims to be China’s largest online-to-offline (O2O) trading platform for the steel industry, has raised RMB2 billion ($291 million) in Series B funding at a post-deal valuation of RMB10 billion.
Temasek invests $300m in Li & Fung's logistics unit
Temasek Holdings has invested $300 million in Li & Fung’s logistics operation after the Hong Kong-based multinational abandoned plans to spin-out the asset through an IPO.
HSBC closes $250m global PE fund
HSBC has closed a $250 million private equity fund that will make primary, secondary and direct co-investments across multiple geographies, sectors and strategies.
Warburg Pincus raises $4.25b for China, Southeast Asia fund
Warburg Pincus has closed its latest China companion fund – which officially includes Southeast Asia for this vintage – at the hard cap of $4.25 billion.
Commonfund hires HSBC executive to lead Beijing office
Commonfund Capital has appointed Xiaonan Tian as an associate director and head of its investment office in Beijing from where she will oversee the firm’s Asia Pacific portfolio.
Deal focus: Weimai seeks healthcare monetization
Weimai plans to leverage a fresh $100 million funding round to bring new technologies to Chinese hospitals. This will include a growing focus on services outside the public health system
China GPs: The Centurium strategy
After more than a decade with Warburg Pincus in China, David Li struck out on his own with Centurium Capital. Applying technology to traditional business models is central to his investment thesis
Chinese online art education business raises $40m
Chinese art education platform Yiqi Technology Group has raised $40 million in the first tranche of a Series C round led by Tencent Holdings. It is said to be the largest-ever funding round for a start-up in this space.
JD Logistics hits first close on China industry fund
JD Logistics, the delivery unit of Chinese e-commerce giant JD.com, has reached a first close on a renminbi-denominated fund that invests in smart logistics and related technologies. The full target for the vehicle is RMB1.5 billion ($218 million).
MSPEA-backed AMTD subsidiary to list in US
AMTD International, the investment banking, asset management, and strategic investment division of Hong Kong-based financial advisor AMTD Group, has filed for an IPO in the US. Both companies are backed by Morgan Stanley Private Equity Asia (MSPEA).
Affirma leads pre-IPO round for China's Dianrong
Affirma Capital – formed through a spin-out of Standard Chartered’s private equity business – has led a pre-IPO round of undisclosed size for Chinese P2P lending services provider Dianrong.
IDG leads $100m round for China healthcare platform Weimai
IDG Capital has led a $100 million funding round for Weimai, a Chinese healthcare-focused big data platform that helps hospitals and clinics in lower-tier cities automate everything from appointment registration to medical records management.
