Technology
ZWC hits $400m first close on China fund
Chinese venture capital firm ZWC Partners has completed a first close of $400 million on its second US dollar-denominated fund. The full target is $450 million.
Japan's JIC invests four local start-ups
Japan Investment Corporation (JIC) has backed four local start-ups via its new VC unit. This includes a JPY3 billion ($29 million) commitment to business digitization consultant Monstar Lab.
China HR software start-up GaiaWorks gets $76m Series D
China-based GaiaWorks, an workforce management software-as-a-service (SaaS) provider, has raised RMB500 million（$76 million) in an extended Series D round led by GGV Capital.
Korea's MegazoneCloud raises $122m Series B
Korean enterprise cloud services provider MegazoneCloud has closed a $122 million Series B round featuring more than 20 investors, including at least eight private equity firms.
Australia's EVP hits $37m first close on Fund III
Australia’s Equity Venture Partners (EVP) has reached a first close of A$50 million ($37 million) on its third early-stage B2B software fund.
China retail SaaS provider Huice secures $100m Series C
Huice, a China-based provider of software for retailers, has raised nearly $100 million in Series C funding led by Singapore’s GIC. GL Ventures, Legend Capital and SoftBank Ventures Asia also participated in the round.
Israel's OTV raises $170m, plans Asia expansion
OTV, an Israeli VC firm focused on digital health, has closed its latest fund at $170 million, opened a China office, and appointed a new head of Asia to spearhead an expansion in the region.
China's Snowball Finance raises $120m
Snowball Finance, a Chinese online financial information platform with wealth management ambitions, has raised $120 million Series E from Orchid Asia.
Anacacia makes another Australia e-commerce play
Australia’s Anacacia Capital has made its second foray into e-commerce in a fortnight with the acquisition of a majority interest in Mwave, an online video gaming and PC hardware retailer.
Deal focus: Speed pays off for Ince with Eeo
Ince Capital's $35 million investment in Eeo Education's Series B round is the largest from its debut fund. The GP has since re-upped in a $265 million Series C at twice the valuation
India's PhonePe spins out from Flipkart, raises $700m
PhonePe, the digital payments platform of Indian e-commerce marketplace Flipkart, has been spun out as a stand-alone entity and raised $700 million in funding at a post-money valuation of $5.5 billion.
Chinese EV maker Hozon raises $305m
Zhengjiang-based Electronic Vehicle (EV) start-up Hozon Auto has raised RMB2 billion ($305 million) from Huading Capital, a specialist EV investor.
China's Chang Guang Satellite raises $376m
Chang Guang Satellite Technology, a China-based commercial satellite developer, has raised RMB2.46 billion ($376 million) in pre-IPO funding. It is the largest-ever funding round in China’s commercial aerospace industry.
Jerry Yang positive on prospects for Taiwan VC - AVCJ Forum
Yahoo co-founder Jerry Yang believes Taiwan “has all the raw materials” for a successful venture capital industry but warned that progress requires people and patience, the AVCJ Taiwan Forum heard.
Japan's MedVenture closes second fund at $95m
MedVenture Partners, a Japanese VC firm focused on medical devices, has closed its second fund with JPY9.9 billion ($95 million) in commitments.
Deal focus: Cashfree targets merchants in India's payments boom
Apis Partners' support of India-based Cashfree is driven by a recognition that the democratization of digital payments is as much about empowering traditional merchants as unbanked consumers
LP interview: Rockefeller University
Rockefeller University has aggressively expanded its endowment program by ramping up its appetite for risk. Asian venture capital is playing a key role in this agenda
Australia's NextGen launches AI fund
NextGen Funds Management, a newly established GP in Australia, has launched what it is calling the country’s first dedicated artificial intelligence (AI) fund.
3W leads $43m Series E for China's CANbridge
Hong Kong’s 3W Fund Management has led a $43 million Series E round for CANbridge Pharmaceuticals, a Beijing-based drug developer that focuses cancer and rare diseases.
Alibaba, Jeneration lead $196m round for China's Nice Tuan
Shihuituan, a China-based community group buying platform also known as Nice Tuan, has raised $196 million in the third tranche of a Series C round led by Alibaba Group and Jeneration Capital.
China AI chip designer Vastai raises $50m
Vastai Technologies, a China-based chip designer, has raised $50 million in Series A funding led by video-sharing platform Kuaishou, Redpoint China Ventures, and 5Y Capital.
JD Health targets largest Chinese PE-backed IPO in two years
JD Health, a Chinese online-to-offline healthcare business that raised around $1.9 billion from private investors after it spun out from JD.com, is looking to raise HK$26.9 billion ($3.48 billion) in its Hong Kong IPO.
Deal focus: PingCap puts its head in the cloud
Real-time analytical support and limitless scale underpin the rise of Chinese cloud database provider PingCap. Will it be part of a new breed of local enterprise software giants?
Tiger, Dragoneer back India's Unacademy at $2b valuation
Indian online education business Unacademy has received funding from Tiger Global Management and Dragoneer Investment Group at a valuation of $2 billion, up from $1.4 billion in its previous round just two months ago.