China
Chinese second-hand goods trading platform raises $65m
Sequoia Capital China has led an extended Series B round worth $65 million for Xiangwushuo, a Chinese online trading platform for second-hand goods. The company, which was founded as recently as 2017, has now raised $110 million in cumulative funding.
Technology risk: Big brother
Advanced technologies experiencing rapid commercialization such as artificial intelligence will be subject to a range of social and regulatory risks. Investors must not ignore the debate on ethical deployment
Legend Capital invests in talent agency CAA's China unit
Legend Capital has taken an equity interest in the China unit of Hollywood talent agency Creative Artists Agency (CAA), having facilitated a merger with Momentum Sports, a sports marketing and consulting business in which it is an investor.
Actis confirms $150m exit from China diagnostics business
Actis has confirmed that it made a full exit from Chinese in vitro diagnostics (IVD) business Beijing Chemclin Biotech, also known as Kemei Biotechnology, for $150 million.
Chinese electric car maker Xpeng raises $587m
Primavera Capital Group and Morningside Ventures have led a RMB4 billion ($587 million) Series B-plus funding round for Chinese electric car manufacturer Xpeng Motors, working alongside the company’s chairman and CEO, Xiaopeng He.
China’s 51Zhaoyou gets $150m in Series C funding
Chinese B2B oil trading platform 51Zhaoyou.com has raised $150 million across two tranches of Series C funding.
China's Kemei Biotechnology raises $294m round
Legend Capital and Huaxing Healthcare Fund – a private equity arm of financial advisor China Renaissance – have led a RMB2 billion ($294 million) investment in Beijing Kemei Biotechnology, a Chinese in vitro diagnostics business.
VCs invest $20m in China's Ultrain
A group of VCs including CDC Capital, Morningside Ventures, and Draper Dragon have backed a $20 million round for Ultrain that values the Chinese blockchain technology provider at $200 million.
Ex-TPG China chairman launches blank check company
Sing Wang (pictured), who was formerly co-chairman of Greater China at TPG Capital and head of TPG Growth in North Asia, is looking to raise up to $230 million for a blank check company through the US capital markets.
Chinese cosmetic surgery app raises $50m Series D1 round
Hong Kong-listed photo editing and social networking app Meitu and a fund-of-funds managed by Shenzhen-based DH Fund have committed $50 million in Series D1 funding to Gengmei, a Chinese information platform that focuses on cosmetic surgery.
WeWork raises $500m for China unit
Trustbridge Partners, Temasek Holdings, SoftBank Group and the SoftBank Vision Fund, and Hony Capital have led a $500 million Series B round for the China branch of US-based co-working space operator WeWork.
Pinduoduo gains 40% on debut after $1.63b US IPO
Chinese social e-commerce platform Pinduoduo – which is backed by Gaorong Capital, Sequoia Capital, and Tencent Holdings, among others – saw its shares gain 40% on debut following a $1.63 billion IPO.
Lightspeed, Blue Run back Chinese mapping player Wayz.ai
Lightspeed China Partners and Blue Run Ventures have participated in an $80 million Series A funding round for Wayz.ai, a Chinese smart mapping service provider.
Fund focus: LPs queue up for a piece of Long Hill
China’s Long Hill Capital scales up with its latest VC fund with strong support from new and existing LPs. Sector specialization has helped underpin much of the progress
China AI start-up DeePhi Tech sold to Xilinx
DeePhi Tech, a Beijing-based start-up focused on artificial intelligence (AI) and machine learning with backing from several VC investors, has been acquired by US-based computer processor developer Xilinx.
CICC leads $102m Series B for China's Allcure Medical
Beijing Allcure Medical Technology, a healthcare technology provider specializing in radiotherapy and tumor diagnosis, has received RMB700 million ($103 million) in Series B funding led by China International Capital Corp. (CICC).
Future Fund backs $200m round for China's Tuya Smart
Australia’s Future Fund has joined a $200 million Series C round of funding for Tuya Smart, a Chinese internet-of-things (IoT) and voice artificial intelligence (AI) platform.
China Creation Ventures collects nearly $200m for debut fund
China Creation Ventures (CCV), a venture capital firm established by the technology, media and telecom (TMT) team at KPCB, has closed its debut fund with nearly $200 million in commitments.
Long Hill closes second China VC fund at $265m
China-focused Long Hill Capital has reached a final close of $265 million on its second US dollar-denominated VC fund as well as a first close of about $30 million for its first renminbi vehicle.
China tech: Speedy returns
The emergence of a younger generation of Chinese consumers willing to pay for online content and services has shortened the path to profitability - and perhaps to IPO as well - for some start-ups
Goldman, Alibaba lead $600m round for China's Suning Sports
Goldman Sachs and Alibaba Group have led a $600 million Series A round of funding for the sports unit of Chinese electronics retailer Suning, which holds the domestic media rights to a range of sporting competitions. The deal values the business at more...
Chinese voice AI specialist Unisound receives $89m
Unisound, a Chinese artificial intelligence (AI) solutions provider that specializes in voice recognition and language processing, has received RMB600 million ($89 million) in Series C-plus funding.
Deal focus: Keep makes a sport of data monetization
After raising a $127 million Series D round from the likes of Goldman Sachs and GGV Capital, Chinese fitness app operator Keep is set to find new ways of monetizing its user behavior data
Coatue leads $350m round for China education player Zuoyebang
Coatue Management has led a $350 million Series D round of funding for Zuoyebang, a Chinese K-12 education platform that spun out from domestic search giant Baidu.