Greater China
China e-commerce: Chaos in the community
With investor sentiment on China’s technology sector cooling, community group buying platforms are battling to conserve cash. This has done little for the government’s anti-monopoly drive
3H Healthcare closes second US dollar fund at $330m
3H Healthcare Investment, which specializes in early-stage China biotech and medical devices deals, has closed its second US dollar-denominated fund at the hard cap of $330 million.
China smart home specialist Aqara raises $156m
Aqara, a China-based provider of smart home appliances and internet-of-things (IoT) solutions, has raised RMB1 billion ($156 million) in Series C funding.
Primavera joins $326m round for Taiwan EV supplier
Primavera Capital Group has made its second cleantech investment in a matter of days, with participation in a $326 million round for Taiwan-based battery manufacturer ProLogium Technology.
Qihoo leads $630m round for China EV maker Hozon
China security software provider Qihoo 360 Technology has led a RMB4 billion ($630 million) round for Hozon Auto, a local electric Vehicle (EV) manufacturer, making an individual contribution of RMB2 billion.
China ride-hailing app T3 Go raises $1.2b
T3 Go, a Nanjing-based ride-hailing platform, has raised a RMB7.7 billion ($1.2 billion) Series A round led by CITIC Investments. Redview Capital and Virtue Capital also took part.
China e-commerce SaaS player Huice raises $312m
Huice, a China-based provider of software for e-commerce retailers, has raised $312 million in a Series D round led by SoftBank Vision Fund 2. This is the largest single round in China’s software-as-a-service (SaaS) industry year-to-date.
Chinese collaboration software provider Lanhu raises $157m
Chinese collaboration software company Lanhu has raised RMB1 billion ($157 million) in an extended Series C round led by GGV Capital, reaching a valuation of $1 billion.
Deal focus: Crypto promises frictionless wire transfers
Hong Kong’s XanPool is tapping a growing universe of cryptocurrency holders to speed up traditional money transferring processes while reducing costs. Valar Ventures offers support
SPACs: Longer menu
As the US recovers from a glut in SPAC fundraising, Asian jurisdictions are launching their own regimes. Not every start-up is a good fit for New York. Is Singapore or Hong Kong a good fit for them?
China networking chip specialist Clounix raises $63m
China-based networking chip manufacturer Clounix has raised approximately RMB400 million ($63 million) across angel and pre-Series A rounds.
Affinity invests $360m in Towngas China
Affinity Equity Partners has invested HK$2.8 billion ($360 million) in a China-focused affiliate of Hong Kong & China Gas (Towngas) to support the company’s transformation from a piped gas provider into a smart energy solutions business.
China MRO player Ruigu gets $250m Series D
Ruigu, a China-based industrial supplies platform that serves small and medium-sized enterprises (SMEs), has raised $250 million in Series D funding led by Primavera Capital Group.
Valar leads Series A for Hong Kong fintech start-up XanPool
Valar Ventures has led a $27 million Series A round for XanPool, a Hong Kong-based financial technology start-up that facilitates payments outside of legacy financial infrastructure.
Hong Kong's FTX raises $420m, hits $25b valuation
Hong Kong cryptocurrency exchange operator FTX has raised $420 million at a valuation of $25 billion from a group of 69 investors.
China vacuum cleaner brand Dreame raises $563m
Dreame, a Beijing-headquartered vacuum cleaner maker backed by smart phone and consumer electronics giant Xiaomi, has raised RMB3.6 billion ($563 million) in Series C funding.
Primavera makes $600m China cleantech investment
Primavera Capital Group has invested $600 million in two subsidiaries of Envision Group, a China-based manufacturer of wind turbines, smart batteries, and renewable energy management systems.
Hong Kong's Animoca Brands raises $65m at $2.2b valuation
Hong Kong non-fungible token (NFT) company Animoca Brands has raised $65 million from a group featuring Sequoia Capital China, more than doubling its pre-money valuation since May to $2.2 billion.
China flying vehicle developer HT Aero raises $500m
HT Aero, an urban air mobility (UAM) company affiliated with Chinese electric vehicle manufacturer Xpeng, has raised a $500 million Series A round led by Xpeng, IDG Capital, and 5Y Capital.
Alibaba leads Series D for China cancer test kit business
Guangzhou-based Creative Biosciences, which manufacturers kits that test for colon cancer, has raised a RMB560 million ($88 million) Series D led by Alibaba Group.
Q&A: 500 Global's Christine Tsai
Christine Tsai, co-founder of 500 Global, formerly 500 Startups, reflects on how a planetary approach to seed-stage VC has changed the asset class, the developing world, and the firm itself
China investors see primary, secondary valuation mismatch - AVCJ Forum
Investors told the AVCJ China Forum they believe low valuations in the country’s secondary markets will begin to appear in the primary market. But they are positive on the long-term.
Fund focus: Vitalbridge plays it safe
The China-based venture capital firm declined to increase its Fund II hard cap as regulatory uncertainty mounted. It now has $275 million in dry powder earmarked for services digitalization
Deal focus: Whale takes a bite of big data
China-focused digital marketing start-up Whale has secured $50 million in Series B funding to hone a product offering that helps companies optimize customer engagement by analyzing traffic flows