Greater China
Investcorp backs Hong Kong's Heritage Foods
Investcorp has made an investment of undisclosed size in Hong Kong-based Heritage Foods, which has a portfolio of condiment and sauce brands in Singapore, Malaysia, and Japan.
China's ZWC Partners raises $770m
Chinese venture capital firm ZWC Partners has closed its second US dollar-denominated fund at around $770 million, beating a target of $450 million.
Taiwan's Hive Ventures closes debut fund at $13.5m
Taiwan’s Hive Ventures has closed its debut seed fund with $13.5 million in commitments. It will invest locally and globally with a focus on artificial intelligence (AI).
Deal focus: TR Capital doubles down on China tech
Secondaries specialist TR Capital has established a base in Shenzhen with a view to sourcing more deals in China’s red-hot technology sector. Online used car trading platform Bochewang is the latest example
China: A controversial ESOP
An employee stock ownership plan introduced alongside Hillhouse Capital’s 2019 investment in Gree Electric Appliances has raised questions about enrichment and alignment
China industrial robotics start-up raises $61m
Youshan Capital and China Merchants Capital have led a RMB395 million ($61 million) Series B round for Han's Robot, a China-based manufacturer of industrial robots.
Investcorp leads Series D for China healthcare SaaS player
Linkedcare, a software-as-a-service (SaaS) and supply chain provider to China's healthcare sector, has closed a Series D funding round. Including an earlier Series C extension, the company claims to have raised $100 million in the past six months.
China's Miss Fresh raises $273m in US IPO, drops on debut
Chinese online grocery delivery platform Miss Fresh raised $273 million through its US IPO, but the company endured a difficult debut and continues to trade well below the offering price.
Hong Kong industrial AI start-up raises $200m
SmartMore, a Hong Kong-headquartered artificial intelligence (AI) and computer vision start-up, has achieved unicorn status after raising $200 million in Series B funding.
China online pharmacy Dingdang seeks Hong Kong IPO
Dingdang Health, a Chinese online pharmacy business that raised $220 million in funding earlier this month, has filed for a Hong Kong IPO.
China online education player Huohua Siwei files for US IPO
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science otherwise known as Spark Education, has filed to list in the US.
China VCs bullish on SaaS - AVCJ webinar
Software-as-a-service (Saas) has emerged as the biggest investment opportunity in China's technology sector, venture capitalists told AVCJ's China outlook webinar.
OTPP leads $154m round for Chinese microfinance player
Ontario Teachers’ Pension Plan (OTPP) has led a RMB1 billion ($153 million) funding round for CD Finance, a China-based provider of loans and other financial services to small businesses in rural areas.
Hong Kong crypto player Amber raises $100m
Hong Kong crypto financial services provider Amber Group has raised a $100 million Series B round led by China Renaissance. It is said to value the company at $1 billion.
China's Manbang trades up after $1.57b US offering
Manbang, a China trucking business that claims to be the world’s largest digital freight platform, gained 13% on debut following a $1.57 billion IPO in the US.
Warburg Pincus leads Series C for China AI drug developer
Insilico Medicine, which leverages artificial intelligence (AI) technology to speed up the drug development process, has closed a $255 million Series C funding round led by Warburg Pincus.
PE investors agree $5.7b 51job take-private
A consortium led by DCP Capital Partners has finalized terms for a $5.7 billion privatization of US-listed Chinese online recruitment platform 51job.
Chinese drug developer Abbisko files for HK IPO
PE-backed Abbisko Therapeutics, which focuses on the discovery and development of innovative and differentiated small molecule oncology therapies, has filed for a Hong Kong IPO.
Deal focus: Content to the masses
Xiaoe Tong gained traction during the pandemic in China as channel for educational content providers, big and small, to reach their customers. It is also a SaaS player that stands firm on product standardization
Fidelity backs $131m Series A for China citytech platform Venturous
Venturous Group, a Chinese smart city platform, has received $131 million in Series A funding from Fidelity, several family offices, and Benson Tan, founder of Venturous.
PE-backed China Youran Dairy loses ground after $643m HK IPO
PAG Asia Capital-backed China Youran Dairy Group raised HK$4.99 billion ($643 million) through a Hong Kong IPO but then ended its trading debut below the IPO price.
China's Nutshell Therapeutics raises $20m
Nutshell Therapeutics, a Chinese drug developer, has raised a $20 million Series A round led by Matrix Partners China.
China secondhand goods platform Zhuanzhuan raises $100m
Zhuanzhuan, a used goods trading platform and subsidiary of 58.com, China’s largest online classifieds marketplace, has raised a $100 million round led by electronics giant Xiaomi.
China healthcare big data player pursues US listing
Chinese healthcare big data company LinkDoc Technology, which counts New Enterprise Associates (NEA), China Broadband Capital, and Temasek Holdings among its investors, has filed for an IPO in the US.