Technology
Alibaba to invest $590m in China smart phone maker Meizu
Alibaba Group has agreed to invest $590 million for a minority stake in Meizu Technology, a Chinese smart-phone maker.
Renren backs China used car platform Cheyipai
Chinese social networking platform Renren has led $110 million Series D round of funding for Cheyipai, a Chinese second-hand car trading platform.
Rocket Internet buys up Asia food delivery platforms
Online food delivery provider Foodpanda has acquired peers in seven Asian markets and become part of a global platform created by its parent, Rocket Internet.
Japanese mobile games developer MyNet raises $6.2m
MyNet, a Japanese mobile games developer, has raised JPY730 million ($6.2 million) from a slew of investors including B Dash Ventures, SMBC Venture Capital, Shinsei Corporate Investment, and Sumitomo Mitsui Bank.
VC-backed WoWo sets terms for $66m NASDAQ IPO
Chinese entertainment and lifestyle-focused e-commerce platform WoWo – which started out as operator of group-buying site 55tuan – plans to raise up to $66 million through its IPO on NASDAQ.
Alipay confirms investment in India’s VC-backed One97
Ant Financial Service Group, Alibaba Group’s online financial service affiliate, has agreed to acquire a 25% stake in Indian VC-backed mobile internet services provider One97 Communication.
Chinese strategic buys UK subsea vehicle business from PE
CSR Corporation, best known as China’s largest manufacturer of metro cars, has agreed to buy UK-based subsea vehicle maker Specialist Machine Developments (SMD) from Inflexion Private Equity for an enterprise valuation of GBP120 million ($184 million).
DBS launches Singapore venture debt program
DBS Bank has launched a venture debt program to support Singapore start-ups, presenting a capital-raising channel that involves little or no dilution of equity.
GGV leads $50m round for China credit card management app
GGV Capital has led a $50 million Series B round of funding for 51Zhangdan, a Chinese mobile app that helps manage credit card spending.
Laser tech firm, Guosen plan China robotics fund
Guosen H&S Investment, a PE investment arm of state-owned Guosen Securities, has teamed up with Shenzhen-based Han’s Laser Technology to form a RMB1 billion ($160 million) industry fund that will target robotic projects.
Australia’s DesignCrowd wins backing from AirTree Ventures
DesignCrowd, an Australia-based crowdsourcing platform used to source designs from hundreds of freelance designers, has received A$6 million ($4.6 million) in a Series B funding round led by AirTree Ventures.
Temasek leas $60m round for India big data player Manthan
Temasek Holdings has led a $60 million round if funding for India-based data analytics firm Manthan Software Services, with participation from existing backer Norwest Venture Partners.
Taiwan’s MasterLink Securities launches VC units in Tianjin
MasterLink Securities, the fourth-largest brokerage firm in Taiwan, has won regulatory approval to launch two venture capital investment units in mainland China.
Fortune backs Huimin’s B2C-B2B switch
Huimin started out in 2012 as an online B2C platform, enabling Chinese consumers to order daily household items from small-scale supermarkets in their neighborhood. The supermarkets took care of the delivery and Huimin got a commission on each transaction....
India venture debt: Innovation capital
Led by SVB India, venture debt providers are beginning to take root in India. Can this nascent asset class replicated its success in developed markets and become a viable option for domestic start-ups?
Shanghai mobile marketing firm gets $35m in PIPE financing
Dodoca Information Technology, a Chinese enterprise mobile marketing solutions provider, will raise RMB222 million ($35 million) from investors including Shenzhen Capital Group and its mutual fund arm Hotland Innovation Asset Management.
Alibaba sets up non-profit VC unit to boost HK entrepreneurs
China’s Alibaba Group has created a HK$1 billion ($129 million) non-for-profit foundation to support Hong Kong start-ups.
Valiant leads $26m Series D for India's FirstCry
Valiant Capital Partners has led a $26 million Series D round for Brainbees Solutions, the Indian start-up behind babies and children-focused retailer FirstCry.com.
Sequoia leads Series B round for China P2P car-sharing app
Sequoia Capital has led a Series B round of funding for Tiantian Yongche, a Chinese peer-to-peer (P2P) car-sharing platform.
Gobi, ABC lead $6m Series A for China's AutoBot
Gobi Partners and ABC Capital have led a $6 million Series A round for Chinese start-up AutoBot, which makes diagnostic tools for cars.
Facebook co-founder leads round for Singapore property site
Eduardo Saverin, co-founder of Facebook and Singapore resident, has led a S$2 million ($1.5 million) round of seed funding for 99.co, a local property listings site. Sequoia Capital also participated alongside several entrepreneurs-turned-investors.
Japan's Gumi Ventures reaches a $16.9m close on Fund II
Gumi Ventures - the corporate venture arm of the Japanese mobile gaming company of the same name - has reached a JPY2 billion ($16.9 million) final close on its second fund.
Hillhouse leads Series B for India auto portal CarDekho
Hillhouse Capital has led a Series B round of funding worth $50 million for GirnarSoft, owner and operator of India-based automobile trading platform and information portal CarDekho.
YJ Capital launches Fund II, backs Indonesia fashion site
YJ Capital - the corporate VC arm of Yahoo! Japan - has announced the launch of its second fund, which has made its first investment in Indonesia fashion flash sale site VIP Plaza.