Greater China
Qiming raises $441m for its sixth renminbi fund
Qiming Venture Partners has closed its sixth renminbi-denominate vehicle at RMB2.85 billion ($441 million), taking the firm's total assets under management to $5.9 billion.
Chinese medical robot maker raises $93m
Edge Medical, a China-based manufacturer of surgical robots, has raised a RMB600m ($93m) series B round led by Lyfe Capital and Hong Kong-listed Kangji Medical.
Hong Kong's E15 VC closes second fund at $32m
Hong Kong technology investor E15 VC, also known as E15 Ventures, has closed its second fund at $32 million with a $15 million contribution from Sun Hung Kai & Co (SHK).
CITIC acquires China perfume brand
CITIC Capital has made an investment of undisclosed size in Shanghai Xiangmiao Trade, owner of Reclassified, a leading Chinese perfume and home fragrance brand.
AVCJ Awards 2020: Deal of the Year - Mid Cap: Perfect Diary
Perfect Diary’s $100 million Series D round came after the Chinese company proved itself with multiple hit color cosmetics brands and eight months ahead of a bumper US listing
China math tuition platform adds $150m to Series E
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $150 million in the third tranche of the Series E round, taking the overall total to $400 million.
Hopu founder backs China healthcare-focused SPAC
Fenglei Fang, founder and chairman of Chinese private equity firm Hopu Investments, is looking to raise $300 million for a special purpose acquisition company (SPAC) that will target healthcare companies with a China focus or expansion prospects in the...
China AI specialist 4Paradigm receives $700m Series D
Boyu Capital, Primavera Capital Group, and Hopu Investments have led a $700 million Series D round for 4Paradigm, a Chinese artificial intelligence (AI) technology developer that serves enterprise customers.
China e-sports business VSPN lifts Series B to $160m
VSPN, a Chinese e-sports broadcaster and events promoter backed by Temasek Holdings, has extended its Series B round to $160 million with a mix of VC and strategic investors.
Vista founder calls for investment in Asia tech infrastructure
Vista Equity Partners is keen to invest in Asia’s financial technology space, but founder Robert F. Smith stressed that governments must put in place the appropriate regulatory infrastructure.
AVCJ Awards 2020: Exit of the Year - Small Cap: China Feihe
The secret to Morgan Stanley Private Equity Asia’s 148x return on dairy producer China Feihe was having faith both in the baby care industry and in a quality domestic brand
Fund focus: Firstred's advisory angle
Firstred Capital has already completed six deals from its debut fund, making commitments that are flexible in structure to Chinese companies that need its M&A expertise
4Q analysis: Growth spurt
Technology-enabled businesses in China and India are the beneficiaries of a resurgence in growth capital deal flow; Japan is the sole stand-out in fundraising; IPOs continue to shine as overall exits struggle
Chinese financial education start-up raises $100m
Erwan Technology, a China-based wealth management education platform, has secured nearly $100 million in funding across Series D and E rounds.
Investors question eligibility for HK carried interest tax concession
Fund-of-funds and family offices could be excluded from Hong Kong’s proposed carried interest tax concession, industry participants have warned.
AVCJ Awards 2020: Fundraising of the Year - Mid Cap: Ascendent Capital Partners
A $500 million investment in Wumart is the exception rather than the rule for Ascendent Capital Partners’ third China fund, but the digital transformation theme is a constant
China's BangEr Orthopedic raises $46m
Chinese hospital chain operator BangEr Orthopedic has raised a RMB300 million ($46 million) Series D round led by Fortune Capital and Cenova Capital.
Sinovation sharpens focus on healthcare-plus-AI
Healthcare, rather than “rocket science,” represents the biggest opportunity for artificial intelligence (AI) applications, according to Kai-Fu Lee, chairman and CEO of China’s Sinovation Ventures.
COVID-19 changing conduct as much as tech usage
Experiences vary across geographies as Asian GPs adapt to pandemic working conditions. Technology use is up, but the most lasting changes may be more cultural in nature.
Deal focus: Monetizing mice
ORI Capital’s 2.8x return on its investment in Kymab was in part based on helping the company make the transition from antibody-based discovery platform to drug development engine
Asia PE investment ends 2020 on a tear
A fourth-quarter surge in growth-stage deal-making took Asia private equity investment to $198.5 billion in 2020, comfortably surpassing the previous year’s total despite the strictures of COVID-19.
Hillhouse founder bullish on China life sciences
Lei Zhang, founder and CEO of Hillhouse Capital, emphasized the opportunities at the nexus of life sciences and artificial intelligence-enabled supercomputing, while describing his firm as “probably the largest investor in healthcare in China.”
Lake Bleu raises $560m for Asia pre-IPO healthcare fund
Lake Bleu Capital, a Hong Kong-based private equity investor focused on healthcare, has raised $560 million for a pre-IPO fund targeting Asia with an emphasis on Greater China.
China-based English learning platform raises $100m
Tencent Holdings and Trustbridge Partners have led a $100 million Series C funding round for Jiliguala, a Shanghai-based online English learning platform.