Technology
Taiwan & tech tensions: Silicon island
Taiwan’s technology sector must play an awkward balancing game amid US-China tensions. This could be a surprisingly favorable position for opportunistic investment and global diversifications
Anacacia backs Australia's Pump Haircare
Anacacia Capital has acquired a controlling stake in Pump Haircare, an Australian organic hair products brand that is looking to further expand its online distribution channels.
Apis invests $35m in India's Cashfree
Apis Partners has invested $35 million in Indian digital payments services provider Cashfree as part of a Series B round also featuring Smilegate Investment and Y Combinator.
DST leads $200m Series E for India's Cars24
Russia’s DST Global has led a $200 million Series E round for Indian used car platform operator Cars24 at a valuation of more than $1 billion.
China trucking platform Manbang raises $1.7b
Manbang Group, China's so-called "Uber for trucks" that matches shippers with drivers and fleet operators, has raised a $1.7 billion round led by SoftBank Vision Fund, Sequoia Capital China, Permira and Fidelity.
Sequoia leads $46m Series D for Chinese chip maker Yunyinggu
Yunyinggu, a Chinese manufacturer of integrated circuits used in flat screen displays, has raised RMB300 million ($46 million) in Series D funding led by Sequoia Capital China.
Cross-border e-commerce player Wish files for US IPO
Wish, a cross-border e-commerce platform that connects Chinese merchants who primarily sell products through domestic channels like Alibaba Group’s Taobal and Tmall with consumers in the US and Europe, has filed for a US IPO.
500 Startups launches Cambodia division
500 Startups has launched a Cambodian unit in partnership with Khmer Enterprise, a start-up ecosystem support arm of the local government’s Entrepreneurship Development Fund.
Baring Asia leads $198m round for Chinese coding start-up
Codemao, a Chinese online education platform that teaches coding to children, has raised RMB1.3 billion ($198 million) in Series D funding led by Baring Private Equity Asia.
India's Reliance Retail marks close of $6.4b fundraise
Indian conglomerate Reliance Industries has announced the completion of a funding round for its retail unit with INR472.7 billion ($6.4 billion) in commitments from eight investors.
India's True Balance gets $28m Series D
Indian financial technology provider True Balance has raised a $28 million Series D round from a group including SoftBank Ventures Asia.
Aggression pays off in times of crisis - AVCJ Forum
Going on the offensive is the best response to COVID-19 - taking advantage of market uncertainty to make new investments and help portfolio companies complete bolt-on acquisitions - the AVCJ Forum heard.
China cloud database specialist PingCap raises $270m
PingCap, a China cloud database service provider, has raised a $270 million Series D round led by GGV Capital, Access Technology Venture, Anatole Investment, Jeneration Capital and 5Y Capital.
PE-backed Perfect Diary jumps 75% on debt after $616m IPO
Yatsen Holding, the parent company of Chinese cosmetics brand Perfect Diary, gained 75% on its first day of trading on the New York Stock Exchange following a $616.9 million IPO.
Macquarie, Armitage-backed Nuix to list in Australia
Macquarie and Armitage Associates are both set to make partial exits when analytics software provider Nuix completes its Australia IPO.
Large LPs willing to explore riskier growth options – AVCJ Forum
Institutional investors looking to diversify their growth portfolios are increasingly turning to technology and emerging managers, the AVCJ Forum heard.
VC-backed Chinese online education business files for US IPO
17 Education & Technology Group, a China-based education service provider that claims to pursue an integrated “in-school plus after-school” model, has filed for a US IPO.
Big platform creation in China coming to an end – AVCJ Forum
Opportunities to build Chinese platforms that can outperform segment leaders such as video-sharing apps Kuaishou and Douyin may not exist in the coming years, the AVCJ Forum heard.
Fund focus: Future Capital looks forward
Cloud-based infrastructure, logistics technology, mobility solutions and the internet of things are key themes for Future Capital as it begins to deploy its latest China-focused early-stage technology fund
CITIC exits data business to European GP
CITIC Capital is exiting its stake in business intelligence database provider ISI Emerging Markets Group to UK-based Montagu Private Equity.
China agricultural drone maker XAG raises $182m
XAG, a Chinese manufacturer of agricultural drones, has raised a RMB1.2 billion ($182 million) round led by Baidu Capital and SoftBank Vision Fund II.
India food delivery player Zomato raises $195m
India-based food delivery business Zomato has raised $195 million from a group of investors including US-based Kora Management and Luxor Capital, and Korea’s Mirae Asset Capital.
China open source software player raises $43m Series B
Zilliz, a Chinese open-source software developer specializing in unstructured data processing and analysis, has raised a $43 million Series B round led by Hillhouse Capital affiliate GL Ventures.
China cloud communication start-up secures $60m Series D
XYLink, a Chinese cloud communication service platform, has raised a RMB400 million ($60 million) Series D round led by Qi An Xin, a cybersecurity spinout from Qihoo 360.
