Greater China
Hong Kong virtual insurer Bowtie gets $35m Series B
Hong Kong digital life insurance company Bowtie has closed a USD 34.9m Series B round led by the local unit of Sun Life Financial.
China auto parts platform Casstime adds to Series D round
Chinese aftermarket car parts supplier Casstime has raised CNY 200m (USD 27.5m) across two tranches of Series D funding from local investors.
BlueRun Ventures China cuts ties with US brand
BlueRun Ventures China has been rebranded as Lanchi Ventures to differentiate itself from the Silicon Valley-headquartered VC firm with which it shares a name.
LPs call for discipline on valuations, exits from China GPs - AVCJ Forum
Some LPs have increased their return expectations for Chinese private equity, and they are calling on local managers to be more disciplined on entry valuations and more tenacious on exits in the hope that these higher thresholds can be met.
China green-tech investors hunt for overlooked niches - AVCJ Forum
Investors targeting green technology in China are looking beyond saturated areas such as renewable energy projects to opportunities that target unaddressed industry pain points, the AVCJ Private Equity & Venture Forum China 2023 heard.
China GPs seek global angles as domestic deployment slows - AVCJ Forum
Global expansion remains a bright spot in China’s investment landscape as private equity firms slow deployment domestically in favour of supporting China-related entrepreneurs or business concepts in other markets, the AVCJ Private Equity & Venture...
Hong Kong's C Capital secures $250m for latest PE fund
C Capital, an investment firm established by Adrian Cheng, scion of Hong Kong’s New World Development, has closed its latest private equity fund with around USD 250m in commitments.
Deal focus: ShawKwei delivers US deal flow
ShawKwei & Partners found its niche in Asia-based industrials businesses with relative cost advantages. Thanks to geopolitics and shifting growth patterns, the GP is now targeting assets in North America
Investors bullish on China consumer - AVCJ Forum
China’s consumer sector is poised for one of its most lucrative vintages with investors able to take advantage of falling valuations, the AVCJ Private Equity & Venture Forum China 2023 heard.
Innovation can end China's healthcare downcycle - AVCJ Forum
Investors in Chinese healthcare are looking for innovators with global competencies to lead an industry recovery following a challenging past 12 months, the AVCJ Private Equity & Venture Forum China 2023 heard.
CICC leads $60m Series B for China's Grit Biotechnology
CICC Capital had led a USD 60m Series B round for Grit Biotechnology, a Shanghai-based drug developer that is working on pioneering cancer treatments involving tumour-infiltrating lymphocytes (LIT).
PE-backed Zhaogang to list via Hong Kong SPAC merger
Zhaogang, a private equity-backed Chinese B2B steel-trading platform, is on course to become the first company to list in Hong Kong through a merger with a special purpose acquisition company (SPAC).
KKR agrees China pharmacy acquisition
KKR has agreed to acquire a majority stake in Chinese pharmacy chain Ruirentang Pharmaceutical Group, according to a filing by a local regulator.
Carlyle, Trustar pursue partial exit, rollover of McDonald's China
The Carlyle Group and Trustar Capital, private equity owners of McDonald’s China, are poised to abandon plans for a single asset continuation fund in favour of exiting part of their holdings and rolling over the rest into other funds.
China's GTA Semiconductor raises $1.85b
GTA Semiconductor, a China-based semiconductor foundry specialising in chips for the automotive industry, has raised CNY 13.5bn (USD 1.85bn) in funding from unnamed investors.
China's TH Capital hits first close on debut US dollar fund
TH Capital, a private equity firm that originated from China's Tsinghua University and was formerly known as Tsinghua Holdings Capital, has completed a USD 60m first close on its debut US dollar-denominated fund.
China robot surgery specialist raises $27m
Shanghai-based surgical robot business Ronovo Surgical has raised CNY200m（USD 27m）in an extended pre-Series B round led by NRL Capital.
Qiming, Orbimed lead Series A for China's Epigenic
Qiming Venture Partners and OrbiMed Asia Partners have led a USD 32m Series A round for Chinese gene editing therapy start-up Epigenic Therapeutics.
China carpooling player Dida revives Hong Kong IPO bid
Dida, a PE-backed Chinese car-pooling and ride-hailing platform, has filed to list in Hong Kong – for the fourth time in three years. There are records of lapsed registrations from 2020, 2021, and earlier in 2023.
China EV maker Hozon raises $961m in crossover funding
Hozon Auto, a Chinese electric vehicle (EV) manufacturer, has raised CNY 7bn (USD 961m) in crossover or pre-IPO funding from unnamed investors.
China telecom towers business gets $150m from sovereign investor
China’s Guodong Network Communication Group, an independent telecom tower company, has raised USD 150m from Abu Dhabi sovereign wealth fund Mubadala Investment.
Fund focus: Forebright relies on its domain expertise
LP allocations to China funds are limited in number and hotly contested. Forebright Capital closed its latest vehicle by emphasising its track record in advanced manufacturing and enterprise software
China secondaries: Willing sellers?
Few, if any, LPs are so desperate to divest China exposure that they will sell fund positions at any price. The main sticking point for secondary transactions is a disconnect on valuations