China
AVCJ Awards 2018: Exit of the Year - IPO: Pinduoduo
By making the shopping experience more enjoyable and efficient, Chinese social e-commerce player has achieved scale at breakneck speed. A bumper US public offering was its reward
Chinese online education start-up Yuanfudao raises $300m
Tencent Holdings has led a $300 million round of funding for Chinese online education start-up Yuanfudao, propelling the company to a valuation in excess of $3 billion.
Naspers leads $1b Series H for India's Swiggy
Naspers has re-upped in Indian online food ordering and delivering platform Swiggy, leading a $1 billion Series H round of funding for the company.
AVCJ Awards 2018: Deal of the Year - Late Stage Technology: Ant Financial
A string of private equity investors backed Ant Financial’s $14 billion Series C round, having recognized a company at the forefront of financial disruption in China
CITIC Capital, FountainVest buy control of pallet leasing business
CITIC Capital Partners and FountainVest Partners have acquired a majority stake in China Merchants Loscam, a pallet and packaging business owned by Sinotrans, for RMB2.48 billion ($359 million).
AVCJ Awards 2018: Fundraising of the Year - Venture Capital: Sequoia Capital China
Sequoia Capital China took just two weeks to close its latest VC fund. The firm accumulated $2.5 billion in total across multiple strategies
PE-backed AsiaInfo raises $115m in Hong Kong IPO
AsiaInfo Technologies, a Chinese telecom software provider that was privatized by a CITIC Capital-led consortium in 2014, has raised HK$899.3 million ($115 million) in its Hong Kong IPO.
Chinese online truck logistics platform raises $170m
Fuyoukache, a Chinese online truck logistics platform, has raised $170 million in a Series D round led by a Bank of China investment unit and Matrix Partners China. Prospect Avenue Capital also participated.
Fosun-owned Henlius Biotech files for Hong Kong IPO
Shanghai Henlius Biotech, a Chinese drug developer controlled by Fosun Group, has filed for a Hong Kong IPO. Third-party investors include Loyal Valley Capital and China International Capital Corporation (CICC).
FountainVest closes debut renminbi fund at $246.5m
FountainVest Partners, which has raised three US dollar-denominated China-focused funds, has closed its first renminbi vehicle at RMB1.7 billion ($246.5 million).
China drug trading platform Yaoshibang raises $133m Series D
Chinese B2B pharmaceutical trading and education platform Yaoshibang has raised $133 million in a Series D round of funding led by Tiger Global Management, H Capital, and DCM.
Junshi Biosciences seeks up to $414m in HK offering
Shanghai Junshi Biosciences, a Chinese drug developer backed by Hillhouse Capital, is seeking to raise up to HK$3.2 billion ($414 million) through a Hong Kong IPO.
PE-backed WuXi Apptech trades flat on Hong Kong debut
PE-backed WuXi AppTec, a contract pharmaceutical R&D services provider, traded flat on its Hong Kong debut, following an IPO of HK$9.1 billion ($1.1) billion.
DCM promotes Ray Zhao to partner
DCM, which targets venture capital investments in China, Japan, and the US, has promoted Beijing-based Ray Zhao to partner.
Washington State commits $200m to China-focused Centurium
Centurium Capital, a private equity firm established by former Warburg Pincus China head David Li, has received a $200 million commitment to its debut fund from Washington State Investment Board.
The crystal ball: Predictions for 2019
Industry participants share their outlooks on some of the biggest economic drivers of the day, including fast-growing sectors and shifting deal making factors across Asia’s varied markets
Chinese smart retail services provider raises $100m
Xianlife, a Beijing-based smart retail service provider, has received $100 million in funding together with its subsidiary Good Neighbors Convenience Stores.
PE-backed Tencent Music gains on US debut
Chinese music streaming platform Tencent Music Entertainment Group (TME) gained 7.7% on its US trading debut, following a $1.1 billion IPO that facilitated partial exits for several investors.
Chinese social e-commerce player raises $100m Series B
Fresh Buddy, a Chinese social e-commerce app that focuses on fresh produce, has raised a $100 million Series B round led by Genesis Capital.
Chinese coffee shop chain Luckin gets $200m Series B
Luckin Coffee, a Chinese coffee shop chain established last year, has raised $200 million in Series B round from existing investors GIC Private, Centurium Capital, and Joy Capital.
2018 in review: Volatility vortex
Pan-regional funds attract the bulk of capital while the renminbi space withers; mixed fortunes for internet IPOs and trade sales; big buyouts fail to deliver but growth-stage tech stays strong
Q&A: Bain Capital's Jonathan Lavine
Asia’s private credit markets are underdeveloped given the size of the regional economy. Jonathan Lavine, co-managing partner of Bain Capital and CIO of Bain Capital Credit, assesses the growth potential
Chinese logistics fleet manager raises $320m
G7, a China-based logistics fleet management systems provider, has raised $320 million in funding round led by Hopu Investment Management.
Fosun-owned Club Med operator raises $427m in HK IPO
Fosun Tourism Group (FTG), which operates holiday resorts under the Club Méditerranée (Club Med) brand, has raised HK$3.34 billion ($427 million) through its Hong Kong IPO.