China
Funds: GGV continues fund size scale-up
Applying technology to traditional industries is likely to feature prominently in GGV Capital's latest China-US fund, which has closed at $1.88 billion
Asia corporate VC: Company towns
Acceleration of development in the technology space is giving rise to a new generation of corporate VC investors. Building an identity separate from their parents is crucial to the success of these emerging firms
China to relax constraints on insurance participation in PE
China has proposed easing restrictions on insurers investing in private equity, which may help alleviate a significant slowdown in renminbi fundraising.
China auto retail player Huasheng Haoche raises $210m
Chinese auto retailer Huasheng Haoche has raised $210 million in a Series B round of funding led by Crescent Point Group, with participation from Goldman Sachs. JD Finance and Frees Fund, which backed the company’s seed and Series A rounds, also re-upped.
CIC to back Japan-China industrial cooperation fund
China Investment Corporation (CIC) has reached an agreement with several Japanese financial institutions to establish a fund that will support Japanese companies looking to expand into China.
Saudi Arabia’s PIF commits $500m to China-Russia fund
Saudi Arabia’s Public Investment Fund (PIF) will invest $500 million into the Russia-China Investment Fund (RCIF), a vehicle established in 2012 by China Investment Corporation (CIC) and the Russian Direct Investment Fund (RDIF).
China Life backs AI drug development platform XtalPi
A healthcare fund managed by China Life Insurance has led a $46 million extended Series B investment in XtalPi, a US-based artificial intelligence-enabled healthcare services platform established by Chinese scientists.
Ping An Ventures leads $20m round for China's Xgene
Xgene Pharmaceutical, a Chinese drug maker, has raised $20 million in a Series B round of funding led by Ping An Ventures with participation from Zhongtai Investment – a unit of Indonesia’s Sinar Mas Group – and existing investors Morningside Venture...
Nio Capital, Eight Roads lead Series A for Innovusion
Innovusion, a US-based developer of Lidar technology for autonomous vehicles, has raised a $30 million Series A round led by Eight Roads Ventures China and Nio Capital, a unit of Chinese electric vehicle maker Nio.
Chinese smart city player Terminus raises $173m Series B
Terminus Technologies, China’s largest city-level mobile internet platform, has raised RMB1.2 billion ($173 million) in an extended Series B round led by China Everbright and IDG Capital. Local artificial intelligence (AI) technology developer SenseTime...
Centurium increases hard cap on China fund to $1.98b
Centurium Capital, a private equity firm established by ex-Warburg Pincus China head David Li, has increased the hard cap on its debut fund from $1.5 billion to $1.98 billion.
China car group buying platform Tuanche files for US IPO
Tuanche, a Chinese online auto services platform that specializes in group buying, has filed for an IPO in the US. Its backers include K2 Ventures, Highland Capital Partners, and Bertelsmann Asia Investments (BAI).
Zebra Capital closes second China fund
Zebra Global Capital, a Chinese GP established by Qunar co-founder Chenchao Zhuang (pictured), has reached a final close on its second fund. The firm said its total assets under management are now around $2 billion, without disclosing the size of the...
Deal focus: Linklogis embraces supply chain finance 2.0
GIC Private leads $220 million investment in Linklogis, a financial technology player aiming to fill China's supply chain finance gap
Yunfeng leads $50m Series C for China's Yunxuetang
Yunxuetang, a Chinese employee training platform has raised $50 million in a Series C round led by Yunfeng Capital.
Advent expands China mattress market foothold
Advent International has expanded its presence in China’s growing mattress and sleeping products market with a new platform combining existing portfolio company King Koil and local counterpart Serta China.
Chinese HR SaaS player Beisen gets $100m Series E
Beisen, a Chinese cloud-based software-as-a-service (SaaS) provider specializing in human resources, has raised over $100 million in a Series E round led by Matrix Partners and Genesis Capital, with participation from Sequoia China Capital. All three...
Chinese online insurer Wukongbao raises Series B
Wukongbao, a Beijing-based online insurance broker, has raised millions of US dollars in a Series B round led by Chinese classifieds platform 58.com, with participation from Guohua Life Insurance.
China Everbright hits $115m first close on healthcare fund
China Everbright has completed the first close of RMB800 million ($115.4 million) on its third healthcare fund. The overall target for the vehicle is around RMB1.5 billion.
China seeks PE assistance to help boost public markets
China’s securities regulator said on Friday that it will take measures to facilitate private equity investment in listed companies – as well as speed up merger approvals and support bond issuance – as part of a broader government campaign to revive...
China's Niu raises $63m in IPO, closes down on debut
Chinese electric scooter manufacturer Niu Technologies ended its first day of trading on NASDAQ down 3.9% after raising $63 million in a scaled back IPO. The company’s backers include GGV Capital, Future Capital, and IDG Capital.
Capillary raises funding to support China expansion
Capillary Technologies, a Singapore-headquartered artificial intelligence (AI) analytics provider with a substantial presence in India, has received funding from Warburg Pincus for a Chinese expansion.
China looks further afield for deals as US tensions mount - M&A Forum
The escalating Sino-US trade war and tighter US regulatory scrutiny of inbound deals has promoted Chinese buyers to pursue investments in new markets, but they must be prepared to overcome opposition in these destinations as well, the China M&A Forum...
Future Capital raises $100m for China VC fund
Future Capital has closed its third US dollar-denominated fund at $100 million. The Chinese VC firm will continue its strategy of backing start-ups with technologies that drive industrial upgrades and improve consumer experience.