Technology
Deal focus: PingCap sees borderless future in the cloud
Fosun Group and Morningside Venture Capital lead a $50 million Series C round to support PingCap's US-China cloud database services push
Golden Gate closes SE Asia VC fund at $100m
Golden Gate Ventures has closed its third Southeast Asia-focused fund at $100 million. Like its predecessors, the oversubscribed fund will invest in start-ups using technology to disrupt traditional business models in the consumer sector.
Ant Financial backs Chinese working hours tracking app
Anxinji, a Chinese app used by many of the country’s blue-collar workers to keep track of their working hours, has closed a Series B funding round led by Alibaba Group affiliate Ant Financial.
SGX leads Series C for Hong Kong's Freightos
The Singapore Exchange (SGX) has led a $44.4 million Series C funding round for Freightos, a Hong Kong-based logistics technology platform that connects carriers with importers and exporters globally.
Chinese auto after-sales services player Tuhu raises $450m
Tuhu, a Chinese B2C platform specializing in automobile after-sale services, has raised $450 million in a Series E funding round led by investors including Tencent Holdings, The Carlyle Group, and Sequoia Capital.
China's Qutoutiao soars on debut after $84m US IPO
Chinese news aggregator app Qutoutiao raised $84 million in a downsized US IPO – continuing a recent trend among Chinese tech start-ups – but then saw its stock price more than double on the first day of trading.
Deal focus: GTJA targets China online pharmacy boom
Healthcare specialist GTJA Investment Group leads a $130 million Series B for Jianke in the expectation that the company will consolidate its leadership position in China's online pharmacy market
Beijing blockchain gaming platform receives $40m
Cocos-BCX, a Beijing-based blockchain game development platform, has raised $40 million from a group of strategic and VC investors to support its expansion plans.
Investors commit $234m to Alibaba, SAIC internet car venture
Yunfeng Capital, Shang Qi Capital, and China’s State Development & Investment Corporation (SDIC) have participated in a first round of funding worth more than RMB1.6 billion ($234 million) for Banma Network Technologies, a smart car joint venture established...
China healthcare big data platform gets $30m Series B
Weimai, a Chinese healthcare-focused big data platform that operates on a city-by-city basis, has received $30 million in Series B funding led by Cenova Ventures, Source Code Capital, Vision Plus Capital, and Matrix Partners China.
China Renaissance set for wealth management push
China Renaissance Holdings is planning an aggressive push into wealth management services, targeting high net worth individuals in China’s new economy, with proceeds from its upcoming Hong Kong IPO.
Indonesia fintech platform raises $24m Series B
Sequoia Capital India has led a $24 million Series B round for Moka, a developer of cloud-based point-of-sale (POS) systems based in Jakarta.
PE-backed Chinese online pharmacy completes $100m US IPO
Chinese online pharmacy operator 111 Inc – best known for its 1 Drugsstore platform – traded down slightly on its NASDAQ debut after raising $100.5 million in a scaled back IPO.
CHAMP exits Australian forex broker Pepperstone
CHAMP Private Equity has exited Australian foreign exchange broker Pepperstone following a buyout by its founders, senior management and Fiona Lock, a managing director at the PE firm.
Deal focus: Fave scales fast as Southeast Asia goes O2O
Malaysia-based Fave raises $20 million to connect Southeast Asia's conservative small businesses with the region's emerging cashless economy
Profile: AlphaX Partners' Chuan Thor
Over the course of more than two decades – with Jafco, Highland Capital Partners, and now AlphaX Partners – Chuan Thor has participated in China’s transition from tech follower to tech leader
Vertex, Sistema lead $30m Series C for India's Kissht
Vertex Ventures, the VC arm of Temasek Holdings, has led a $30 million Series C round for Indian financial technology platform Kissht alongside Russian VC investor Sistema Asia Fund.
China's Nio trades up after smaller-than-expected US IPO
Chinese electric vehicle (EV) maker Nio – which claims its premium vehicle is cheaper and better quality than the Tesla Model X – ended its first day of trading in New York 5.4% above the IPO price following a $1 billion offering.
Chinese AI video platform receives Series C1 funding
Video++, a Chinese artificial intelligence-driven advertising solutions provider that claims to serve 65% of domestic video-streaming sites, has secured a Series C1 round of funding.
China's PingCap gets $50m Series C
PingCap, a Beijing-based start-up that provides database solutions for enterprise customers, has secured a $50 million Series C round led by Fosun Group and Morningside Venture Capital.
Deal focus: Miss Fresh showcases future of e-commerce
With $450 million in new funding, Chinese online grocer Miss Fresh plans to build out its supply chain operation and underline its credentials as a new-generation e-commerce player
Centurium invests $100m in Chinese eyewear brand
Centurium Capital has committed $100 million in Series C funding to Loho, a Chinese eyeglasses brand that pursues an online-to-offline (O2O) business model.
Southeast Asia VC: Partner propositions
Strategic investors, particularly from China, are playing a growing role in Southeast Asia’s technology scene. Venture capital investors in the region hope their portfolio companies can benefit from the rising tide
IFC-backed Angel Broking files for India IPO
Indian financial services provider Angel Broking has filed for an IPO that will raise up to INR6 billion ($83 million) and provide a partial exit to the International Finance Corporation (IFC).