China
China's AlphaX raises $270m venture capital fund
AlphaX Partners, a Chinese venture capital firm established by Chuan Thor (pictured), formerly of Highland Capital China, has closed its first US dollar and renminbi-denominated fund with around $270m in commitments.
Legend hits $156m first close on renminbi healthcare fund
Legend Capital has reached a first close of RMB1 billion ($156 million) on its second dedicated healthcare fund. A US dollar-denominated vehicle – also the VC firm’s second for the sector – is scheduled for launch in the third quarter.
San Francisco pension fund backs China's SBCVC - update
San Francisco City & County Employees’ Retirement System has committed $25 million to SBCVC’s sixth China fund, which has a target of $500 million. The GP closed its previous VC vehicle at $459 million in 2016.
Tencent leads $50m round for India's NewsDog
China's Tencent Holdings has led a $50 million Series C round for NewsDog, an Indian vernacular language news app founded by Chinese entrepreneurs.
Vietnam: Growth agenda
Comparisons with the dynamics in China a decade ago are often used to illustrate Vietnam's potential. The country may replicate some of its larger neighbor's success, but patience and reform remain paramount
China early-stage investment round-up
Venture capital deals involving Fortune Capital, Sina Weibo, Sequoia Capital China, ChinaEquity Group, Cornerstone Capital, Geekbeans Capital, Atlas Capital, and Heyi Capital
Vision Plus raises $500m for China VC funds
Vision Plus Capital Partners, a Chinese venture capital firm set up by one of the co-founders of Alibaba Group, has raised $500 million for its second US dollar and renminbi-denominated funds.
DCP to invest in Chinese heart valve developer
DCP Capital Partners, a private equity firm set up by the former heads of KKR’s China business, has agreed to invest an undisclosed sum in domestic heart valve developer Venus Medtech.
Chinese autonomous driving start-up gets $128m Series A
Roadstar.ai, a Chinese start-up that specializes in autonomous driving technology, has received $128 million in Series A funding led by Shenzhen Capital Group and Wu Capital.
JD.com invests in PE-backed Asia logistics platform
Chinese online retailer JD.com has invested $306 million in e-Shang Redwood (ESR), a private equity-backed pan-Asia logistics operator and fund manager.
Warburg Pincus, GIC set up China rental apartment platform
Warburg Pincus and Singapore’s GIC Private will establish a RMB4.3 billion ($675 million) platform for investing in rental apartments in China’s tier-one cities.
VC-backed Huya gains on US trading debut after $180m IPO
Huya, a Chinese game broadcasting business that spun out from social networking platform YY, gained 33.8% on its New York Stock Exchange trading debut following a $180 million IPO.
Chinese restaurant services app receives $63m
Mwee.cn, a Chinese restaurant booking app, has raised RMB400 million ($63 million) in the first tranche of a Series D funding round led by Koubei, Alibaba Group’s local services platform, and travel services business Ctrip.
Tech entrepreneurs and family offices: Collective might
Investment firms are emerging in Asia that leverage the collective wealth, knowledge and networks of the region's most successful internet entrepreneurs. These are family offices, but not necessarily in the traditional Western model
GLP establishes $1.6 billion China logistics fund
GLP, a private equity-owned warehouse operator based in Singapore, has launched a RMB10 billion ($1.6 billion) PE fund that will invest in the China logistics ecosystem. It is the second Chinese fund set up by the company this year.
Chinese long-term property rental players get PE funding
Two more Chinese online long-term property rental platforms – Uoko.com and Baletu.com – have received private equity funding as young people opt to rent rather than buy in a climate of high property prices.
Sequoia leads $40m round for Hong Kong biotech player
Sequoia Capital China has led a $40 million Series B round of funding for MabSpace Bioscience, a Hong Kong-headquartered drug developer that specializes in cancer treatments.
GIC leads $260m round for China’s CStone Pharma
Singapore’s GIC Private has led a $260 million Series B investment in China’s CStone Pharmaceuticals. The round, completed within two months, is said to be the largest biopharma Series B in the country to date.
China's WeDoctor gets $500m pre-IPO round
WeDoctor, a Chinese online healthcare platform backed by Tencent Holdings, has received a $500 million round of funding – at a valuation of $5.5 billion – from Hong Kong-listed insurance company AIA Group and infrastructure and services conglomerate...
Chinese drug developer Ascletis files for landmark HK IPO
Ascletis, a Chinese drug developer that has received funding from C-Bridge Capital, has filed for an IPO in Hong Kong. It is set to be the first listing in the territory under new rules that allow companies with zero revenue or profit to go public.
EQT closes Asia mid-market fund at $800m
EQT Partners has closed its Asia-focused middle market private equity fund on target with $800 million in commitments.
Intel Capital backs three Chinese tech start-ups
Intel Capital, the captive VC arm of Intel Corporation, has backed in three Chinese start-ups as part of a $72 million investment in 12 companies based in China and the US.
KPCB leads $20m round for China cross-border retail player
KPCB has led a $20 million Series B funding round for BorderX Lab, a US-based e-commerce services company that helps global retailers connect with Chinese consumers.
SMIC, Chinese investors to launch semiconductor fund
Hong Kong-listed Semiconductor Manufacturing International Corporation (SMIC) will launch a RMB1.62 billion ($254 million) fund in partnership with a Chinese government-backed group to invest in semiconductor assets.