Greater China
China e-commerce enabler Xingyun raises $600m - update
China’s Xingyun Group, a digital supply chain provider for cross-border e-commerce, has raised $600 million in the second tranche of Series C round led by Yunfeng Capital, HI Transformational Fund, and Crescent Point.
Mobility: Gravitational shift
The automotive industry’s VC overtures might be in retrograde, but traditional carmakers are finding new ways to make a mark in mobility innovation. This creates new dynamics for financial investors
Profile: FCC Partners' CY Huang
Moving from advisor to investor and back again, C.Y. Huang has carved a niche in Taiwan’s M&A and private equity world. But he remains conscious of the need to adapt and evolve
Deal focus: Loyal Valley realizes $600m from the Bilibili show
Chinese video-streaming platform Bilbili has won the hearts, minds, and wallets of users amid an intensifying content-based battle. Loyal Valley Capital picked an opportune time to make a partial exit
Deal focus: Plus pulls financial, strategic levers
China’s first autonomous driving truck will shortly enter mass production, courtesy of Plus and its array of private equity and automotive industry supporters
China's Hike Capital seeks $300m for Fund III
Hike Capital, a Chinese venture capital firm established by the founder of classifieds website Ganji.com and a senior executive at NetEase, is targeting $300 million for its third US dollar-denominated fund.
KKR, DCP back China's Adopt A Cow
KKR and DCP Capital Partners have jointly invested in Adopt A Cow, a China-based dairy farm operator that pursues a direct-to-consumer sales model underpinned by digital tools.
Deal focus: Centurium, Joy re-up in China's Luckin Coffee
Centurium Capital and Joy Capital have invested $250 million in scandal-hit Chinese coffee shop chain, with Centurium describing it as a sign of faith in the company’s business model and long-term prospects.
China's ZJS Express raises $153m
China-based logistics provider ZJS Express has raised a RMB1 billion ($153 million) Series B round led by Sino-Ocean Capital. Gaolin Capital and state-backed HighRun Capital also participated.
CPE hits $1.8b first close on China fund
CPE has reached a first close of $1.8 billion on its fourth US dollar-denominated fund following a six-month period punctuated by three new investments and four portfolio company IPOs.
China home fitness brand Fiture raises $300m
Fiture, a Chinese developer of artificial intelligence-enabled home fitness devices, has raised $300 million in Series B funding led by All-Stars Investment, Legend Capital, DST Global, and Coatue Management.
Temasek leads $200m Series E for China's Arrail Dental
Arrail Group, one of China’s largest dental services providers, has raised close to $200 million in Series E funding led by Temasek Holdings.
China's TuSimple trades flat after $1.3b US IPO
TuSimple, a China and US-based developer of autonomous driving technology for trucks, traded flat on debut following a $1.35 billion IPO at a market capitalization of $8.5 billion.
China AI drug discovery platform StoneWise raises $100m
StoneWise, a Chinese biotech start-up that uses artificial intelligence (AI) technology to develop new drugs, has raised $100 million in Series B funding across two tranches.
Hong Kong's Lever VC hits $46m fourth close on food fund
Lever VC, a Hong Kong-based food tech investor, has achieved a fourth close of $46 million on its debut fund, claiming 2.3x growth in the value of the portfolio since 2019.
Deal focus: Gobi sees 100x return on Airwallex
Gobi Partners became Airwallex's first institutional investor in 2016 due to a lack of support in the Australian company's home market. The GP made a partial exit in a recent Series D round at a valuation of $2.6 billion
Fund focus: Long Hill burns the midnight oil
Embarking on its first Zoom-based fundraise, China's Long Hill Capital succeeding in closing just above target on $300 million while significantly diversifying the LP base
1Q analysis: American dreams
New York makes an unexpected reappearance as the preferred IPO destination for Asian companies; the growth-stage tech investment revival continues; KKR lights up lackluster fundraising environment
Q&A: Hike Capital's Anna Xu
China-focused Hike Capital positions itself as an entrepreneur-led VC firm, having been established by two start-up founders. One of them, Anna Xu, explains why this makes a difference
Fund focus: Qingsong plays the long game
Qingsong Fund differs from most renminbi fund managers by virtue of its uncommon diversification and farsighted strategy. Data and deep tech will be key focus areas for the firm’s new $153 million fund
5Y raises $2b across dollar, renminbi funds
China's 5Y Capital has raised nearly $2 billion for its latest US dollar and renminbi-denominated funds, securing $1.7 billion for the US dollar pool and around RMB1.9 billion ($290 million) for the local currency vehicle.
PE-backed property platform Anjuke to go public in Hong Kong
Anjuke, a Chinese online property marketplace controlled by classifieds player 58.com, has filed for a Hong Kong listing. It follows a $250 million pre-IPO funding round featuring two Hong Kong property developers.
PE-backed Brii Bioscience pursues Hong Kong listing
Brii Biosciences, a three-year-old Chinese biotech start-up that has raised approximately $415 million in private funding from the likes of Sequoia Capital China, Boyu Capital, and Yunfeng Capital, has filed for a Hong Kong IPO.
China mRNA vaccine provider Abogen raises $92m
Suzhou Abogen Biosciences, a Chinese mRNA vaccine provider, has raised RMB600 million ($92 million) led by PICC Capital - an investment unit under People’s Insurance Company of China - and state-backed SDIC Venture Capital.