Hesai Technology, a China-based developer of sensors used in autonomous driving, is targeting a US listing. Its investors include Lightspeed China Partners, Baidu, Bosch, and Xiaomi.
New Ruipeng Pet Group, a China-based pet care services platform that counts Hillhouse Capital as a significant shareholder, has filed for an IPO in the US.
Iaso Biotherapeutics, a Chinese cell therapy developer focusing on oncology treatments, has raised nearly CNY 500m (USD 75m) in an extended Series C round.
China-based Riverhead Capital, the private equity arm of Sunshine Insurance Group, has closed a renminbi-denominated fund with CNY 2bn (USD 295m) in commitments.
Yunqi Partners, which makes early-stage investments in China’s enterprise software and services space, is targeting USD 300m for its fourth US dollar-denominated fund.
TR Capital has sold China-focused luxury streetwear brand Evisu United – one of two assets it acquired through fund restructuring for Cassia Investments – through a sale to an unnamed financial sponsor. The size of the deal was not disclosed.
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
Electric bicycle brand Tenways has built its business on European design capabilities and Asian manufacturing smarts. L Catterton is backing the two-year-old company to become a global leader
Beijing-based satellite developer Minospace has raised nearly CNY400m (USD 59.6m) across a Series B round and a Series B extension.
Investors targeting Southeast Asia and China told the Hong Kong Venture Capital & Privat Equity Association's (HKVCA) Asia forum that they were encouraged by liquidity events in 2022 and expect to see more exit opportunities this year.
LPs are willing to back first-time managers and reengage with China, but they want to see more from GPs in return for taking these risks, the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia Forum heard.
China’s Yuze Semiconductor, a specialist in single-crystal high-efficiency silicon wafers, has raised a CNY 1.2bn (USD 178m) Series B round featuring Goldstone Investment, a PE unit of CITIC Securities.
Newlink Group, the operator of a China-based platform that helps drivers locate the best-value gas stations and charging piles, has raised CNY 900m (USD 133m) through a series of financing rounds involving three subsidiaries.
Hillhouse Capital, Cowin Capital, Chengchuang Capital, and SAIC Motor Corporation's Shangqi Capital have participated in a USD 50m extended Series B round for Capcon, a China-based supplier of semiconductor assembly and packaging equipment.
Tenways, an electric bicycle manufacturer headquartered in the Netherlands with a strong supply chain in Asia, has raised CNY 300m (USD 44m) in Series A funding, including an extension led by L Catterton.
Nio Capital has led a Series A for China-based battery recycling start-up Ruilong Technology. The company did not disclose the exact size of the round, merely saying it amounted to several hundreds of millions of renminbi.
China Investment Corporation (CIC) surpassed Japan’s Government Pension Investment Fund (GPIF) and Norway’s Norges Bank Investment Management (NBIM) to become the world’s largest state-owned investor in 2022, according to Global SWF Tracker.
China’s Cloudview Capital has led a CNY 1.5bn (USD 221m) Series B round for Astronergy, a solar panel manufacturer based in Zhejiang province.
Breton Technology, a China-based manufacturer of new energy mining equipment, has closed an extended Series C round of CNY 579m (USD 84.5m) from a slew of domestic investors.
PAG has invested USD 500m in China-based online video streaming platform iQiyi through a private placement of senior convertible notes.
Hong Kong-based multi-strategy alternatives asset manager VMS Group has appointed Jianming Zou, formerly of New Horizon Capital, as head of private equity.
Moore Threads, a China-based designer of artificial intelligence (AI) chips, has raised CNY 1.5bn (USD 218m) in Series B funding led by China Mobile Digital New Economy Industry Fund and Hexie Health Insurance, with participation from Dianshi Capital.