China
Unicorn raises $250m for second China fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its second fund at the hard cap of $250 million.
L Catterton, JD to invest $175m in China’s Secoo
L Catterton Asia and Chinese online retailer JD.com have agreed to invest $175 million in Secoo, a Chinese e-commerce platform for luxury goods that is listed in the US.
TPG leads $60m Series C for China's Moretickets
TPG Capital has led a $60 million Series C funding round for Moretickets, a Chinese events ticketing platform operator.
Tencent prepares for IPO of PE-backed music business
Tencent Holdings has taken the first step towards a US listing for its music streaming business, in which PAG Asia Capital is a minority investor.
Xiaomi raises $4.7b in Hong Kong IPO
Chinese smart phone maker Xiaomi has raised HK$37 billion ($4.72 billion) in its Hong Kong IPO at a valuation of $54 billion – well below the totals it had originally targeted.
Eight Roads leads $15m Series B for China's Kyligence
Kyligence, a Chinese big data analytics business, has received $15 million in Series B funding led by Eight Roads, with participation from Cisco and several existing investors.
China's Yunfeng buys German pharma player
China’s Yungfeng Capital has teamed up with Shenzhen-based Hybio Pharmaceutical to acquire diversified German biopharmaceuticals company AMW for an undisclosed sum.
Hong Kong's PE-backed WeLab files for IPO
WeLab, a Hong Kong financial technology provider with backers including Alibaba Group, the International Finance Corporation (IFC), and Malaysia’s Khazanah Nasional, has filed for an IPO.
China-US tech: The innovation game
The emergence of domestically-developed tech business models in China that can be exported overseas has VC investors hoping the country can become known as an innovator rather than a copycat
C-Bridge hits $400m first close on China healthcare fund
C-Bridge Capital has reached a first close of just over $400 million on its third healthcare fund, which focuses on Chinese pharmaceutical, medical technology and healthcare services companies with proven products and technologies.
Value Partners launches China education PE fund
Hong Kong asset manager Value Partners has launched its first PE program in mainland China with a locally focused education sector fund in partnership with university and technical college operator China Education Group.
Alibaba, Tencent, Vanke join $1.5b round for CMC unit
CMC Inc, a company set up by Chinese media-focused private equity firm CMC Capital Partners to hold assets beyond a 10-year horizon, has raised RMB10 billion ($1.5 billion) in Series A funding.
Vivo, Advantech invest $87m in Sinovac as take-private is abandoned
Vivo Capital and Advantech Capital have committed $86.73 million to Chinese biopharmaceutical player Sinovac Biotech. Both investors were members of a consortium that was bidding to privatize the US-listed company, but that process has been terminated.
Everbright forms China-focused JV with HQ
HQ Capital has joined Yuanju Capital, an affiliate of China Everbright’s asset management arm Everbright Financial Holding, to launch a wealth management platform aimed at the Chinese market.
Temasek, RRJ to take 49% stake in HNA-owned Gategroup
Temasek Holdings and RRJ Capital have invested an unspecified amount for a significant minority stake in Gategroup, an airline catering provider owned by troubled Chinese conglomerate HNA Group.
Chinese social e-commerce player Pinduoduo files for US IPO
Pinduoduo, a Chinese social e-commerce platform that counts Tencent Holdings and a string of venture capital firms among its investors, has filed for an IPO in the US.
China-US trade: Balance of power
A long-smoldering trade dispute between the US and China has begun to reverberate globally across a range of sectors. Private equity must not ignore the potential impacts
Q&A: Eaton Partners' Chris Lerner
Chris Lerner, a partner and head of Asia at placement agent Eaton Partners, discusses why LPs are allocating more capital to private equity in the region and who are the biggest beneficiaries
Chinese investors back Indian online marketplace Cashify
Cashify, an Indian online marketplace for used smart phones and electronics, has raised a $12 million funding round led by China-based GPs CDH Investments and Morningside Capital.
Nissan terminates sale of battery business to China's GSR Capital
Nissan Motor has abandoned plans to sell its electric battery operations and production facilities to GSR Capital because the Chinese private equity firm didn’t have sufficient funds to complete the transaction.
Unitas agrees $694m sale of Chinese condiments business
Unitas Capital, which is in the process of exiting its remaining investments after abandoning plans to raise a new fund in 2016, has agreed to sell Chinese condiments producer Jiahao Foodstuff to Huabao International Holdings for $694.5 million.
PE-backed BabyTree to list in Hong Kong
BabyTree, a Chinese parent-focused social networking platform that has received backing from the likes of Fosun Group and Alibaba Group, has filed for a Hong Kong listing.
Cancer drug developer Innovent Biologics files for HK IPO
Innovent Biologics, a Chinese drug developer company with a number of PE backers, has filed for an IPO in Hong Kong under recently introduced rules allowing listings by biotech companies with no revenue or profits.
Advantage buys China restaurants from Papa John’s
Advantage Partners has acquired 34 restaurants in Beijing and Tianjin from Papa John’s International. The investment is being made through the Japanese private equity firm’s $380 million debut Asia fund, which closed in May.