Greater China
China chip designer Biren gets $410m Series B
Biren Technology, a Chinese chip design company, has raised a RMB2.7 billion ($410 million) Series B round led by Ping An Insurance, New World Development, and Country Garden Venture Capital.
Portfolio: GL Capital & SciClone Pharmaceuticals
GL Capital has helped China’s SciClone Pharmaceuticals position itself for the future while continuing to monetize its key legacy drug. A Hong Kong listing was the reward
Fund focus: CityU promotes entrepreneur enablement
City University of Hong Kong plans to invest $64 million in creating 300 start-ups over the next three years, offering students and staff a more structured route to commercializing academic research
Matrix leads Series E tranche for China corporate training platform
Matrix Partners China has led a second tranche of Series E funding - worth $90 million - for Yunxuetang, a Chinese online corporate training services provider.
Redpoint China promotes Kyle Liu to partner
Redpoint China Ventures has promoted Kyle Liu, who focuses on early-stage enterprise services and cutting-edge technology investments, to partner level.
VMS leads $190m round for China CDMO player Chime
VMS Group, a Hong Kong-based asset manager, has led a $190 million extended Series A round of funding for Chime Biologics, a Chinese contract development and manufacturing organization (CDMO).
Wise Road agrees $1.4b take-private of Korea chipmaker
Wise Road Capital, a China-based private equity firm that focuses on high-tech investments, has agreed to privatize Korea’s Magnachip Semiconductor Corporation at a valuation of $1.4 billion.
KKR joins $200m round for China coding education start-up
Hetao 101, a Chinese online education platform that provides computer programming courses for children, has raised $200 million in Series C funding led by KKR, Vision Plus Capital, and GL Ventures.
China's Baidu raises funding for chip unit at $2b valuation
CPE has led a funding round for Kunlun, the semiconductor unit of Chinese search giant Baidu, at a post-deal valuation of approximately RMB13 billion ($2 billion).
China's Zhihu completes $522m IPO, endures volatile debut
Chinese question-and-answer platform Zhihu endured a difficult New York Stock Exchange debut, closing at a 10.5% discount to its IPO price on a day when US-listed Chinese stocks fluctuated wildly.
PE topples advisory as China Renaissance's key business
Fund management has become China Renaissance’s largest source of revenue, seven years after the firm – best known for providing private placement and M&A advisory services to Chinese internet companies – entered the private equity business.
Baring targets $8.5b for eighth pan-Asia fund
Baring Private Equity Asia is back in the market seeking $8.5 billion for its eighth pan-regional fund, less than 15 months after closing Fund VII at $6.5 billion.
China yogurt brand secures $122m Series B
Simple Love, also known as Jian’Ai, a Chinese yogurt brand, has raised RMB800 million ($122 million) in Series B funding from Matrix Partners China, BA Capital, CITIC Agriculture Fund, and Maison Capital. They all backed the company's RMB400 million Series...
China autonomous driving start-up TuSimple files for US IPO
TuSimple, a China and US-based developer of autonomous driving technology for trucks, has filed for a US IPO. Its backers include CDH Investments, Zhiping Capital, Sina Corporation, and Hong Kong hedge fund Composite Capital.
Hony launches China healthcare, consumer SPAC
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
JC Flowers exits Asia trading platforms business
JC Flowers has agreed to sell Hong Kong-based Chi-X Asia Pacific, which operates equity trading platforms in Australia and Japan, to US-based Cboe Global Markets.
Invesco leads $155m round for China's Brii Biosciences
Invesco has led a $155 million Series C round for China-focused infectious diseases drug developer Brii Biosciences.
CMB, Mirae lead Series C for China biotech player EpimAb
Shanghai-based EpimAb Biotherapeutics has raised $120 million in Series C funding led by CMB International and Korea’s Mirae Asset Financial Group.
China drug development outsourcer raises $70m
Zhenge Biotech – a Shanghai-based contract development and manufacturing organization (CDMO) for large molecule drugs – has raised $70 million in Series B funding led by Qiming Venture Partners and IDG Capital.
China's Taishan Beer raises $92m
CMC Capital Group has committed RMB600 million ($92 million) in funding to Chinese domestic beer brand Taishan.
China direct lending: Creative credit
A combination of improved collateral, rising yields and robust demand is drawing investors to China’s direct lending space. Opportunities abound, but local execution remains critical
Ares & SSG: Scale proposition
The merger of Ares Management and SSG Capital is among the largest ever seen in Asian alternatives. They are now pushing into new markets and segments, leveraging the combination of size and local resources
Private equity & credit: Seeking synergies
GPs are placing greater emphasis on Asia private debt strategies to capture deals that don’t work as private equity. Much can be achieved by pooling ideas and resources, but collaboration isn’t as straightforward as it seems
Bain backs China gas station platform Newlink
Bain Capital Private Equity led a $200 million investment in Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations and charging piles. Joy Capital re-upped in the round.