Technology
Source Code leads Series C for China online insurance broker
Yuanbao, a Chinese online insurance broker, has raised nearly RMB1 billion ($156 million) in Series C funding led by Source Code Capital. Other investors include Cathay Capital, Hike Capital, Northern Light Venture Capital, Qiming Venture Partners, and...
Nordstar, Insignia back Asia Amazon marketplace consolidator
Southeast Asia has seen its second e-commerce aggregator investment in a matter of days, with Rainforest securing $36 million in seed funding from Nordstar and Insignia Venture Partners.
China's Hope Medicine raises $56m Series B
Chinese innovative drug company Hope Medicine has raised a $56 million Series B round jointly led by Qiming Venture Partners and Grand Flight Investment.
Asia brand aggregator raises $40m
Una Brands, an aggregator of e-commerce brands with a presence across Asia, has launched with A$50 million ($40 million) in seed funding from 500 Startups, Kingsway Capital, 468 Capital, Presight Capital, and Global Founders Capital.
5Y, Sequoia back China app-building platform
Huoban.com, a Chinese zero-code application building platform has raised $17 million in Series B funding led by 5Y Capital and Sequoia Capital China. Challenjers Capital also took part in the round.
China audio platform Ximalaya files for US IPO
Ximalaya, China’s largest online audio platform, which counts the likes of Tencent Holdings, General Atlantic, and Goldman Sachs among its backers, has filed for a US IPO.
Ocean Link joins consortium pursuing 51job take-private
DCP Capital Partners has enlarged the consortium seeking to acquire Chinese online recruitment services platform 51job with the addition of Ocean Link Capital and the target company’s CEO.
Asia technology: Anatomy of a rebound
Tech investment has been on a tear in Asia, with private equity joining venture capital at the party. While COVID-19 has contributed to these dynamics, the revival is rooted in deeper structural change
Fund focus: Main Sequence differentiates by going deep
Australia’s Main Sequence Ventures, a government-established VC, has raised 100% of its second fund with outside capital. It credits much of the success to the high barriers of hard science
Ince seeks $450 million for second China VC fund
Ince Capital is preparing to launch its second China venture capital fund with a target of $450 million, less than 18 months after closing its debut vehicle.
Buhuo Ventures completes renminbi fund restructuring
China’s Buhuo Ventures has closed its first US dollar-denominated fund at $100 million, following a GP-led cross-currency restructuring of a renminbi vehicle.
India food delivery player Zomato files for domestic IPO
Zomato, an India-based food services platform that raised more than $1.25 billion in private funding from the likes of Ant Group, Tiger Global Management, and Sequoia Capital India, is looking to raise up to INR82.5 billion ($1.11 billion) through a domestic...
SIG leads $70m Series C for China's YiAuto
YiAuto, a Chinese new car marketplace, has raised a $70 million Series C round led by SIG. Existing investors GGV Capital, BlueRun Ventures, Sky9 Capital, and K2 Venture Partners also participated.
China AI chip designer Vastai raises $77m
Vastai Technologies, a China-based artificial intelligence (AI) chip designer, has raised RMB500 million ($77 million) in an extended Series A round led by Matrix Partners China and China Internet Investment Fund.
Trustar backs China beauty industry online services provider
Trustar Capital – formerly CITIC Capital Partners – has acquired a stake in Yifei Group, an online business service provider to China’s beauty and personal care industry, continuing its string of deals in this area over several years.
China Growth Capital leads Series C for Hygea Medical
China-based medical devices manufacturer Hygea Medical Technology has raised a RMB500 million ($77 million) Series C round led by China Growth Capital.
China agricultural drone company raises $30m
Chinese agricultural drone maker EAVision has raised $30 million in Series C funding led by Temasek Holdings, CITIC Agricultural Industry Fund, and Bits x Bites.
China bike-sharing player Hellobike pursues US IPO
Hello Inc, best known as the operator of China bike-sharing service Hellobike and backed by the likes of Alibaba's Ant Group and GGV Capital, has filed for an IPO in the US.
Australia's Main Sequence closes Fund II at $194m
Main Sequence Ventures, a specialist deep tech investor established by Australia’s national science agency, CSIRO, has closed its second fund with A$250 million ($194 million) in commitments.
Deal focus: DCP, KKR milk new dairy opportunity
The private equity firms are backing Adopt A Cow’s combination of high-quality, high-transparency dairy products and its ability to reach young Chinese consumers through non-traditional channels
Deal focus: Xingyun's trade flow proposition
Having built its business on imports into China, e-commerce enabler Xingyun now wants to take Chinese brands global as well. For HI Transformational Fund, it represents a compelling inflection point
Deal focus: Cattle herding enters the app age
New Zealand’s Halter is bringing innovation to an industry that hasn’t seen many new tools since the invention of barbed wire. Blackbird Ventures is offering its support
Deal focus: China big data player goes global
China’s Kyligence is plugging new technologies into an increasingly cloud-based and services-oriented enterprise software space. It has raised $70 million to pump up an international expansion
Q&A: B Capital's Raj Ganguly
In the past few months, B Capital Group has closed a late-stage fund, entered China, and moved forward with a seed-stage vehicle. Co-founder Raj Ganguly explains the firm’s thinking