China
Tencent leads $80m round for China’s Miaoshou Doctor
Tencent Holdings has led a RMB500 million ($80 million) Series C round for Miaoshou Doctor, a China-based healthcare services provider.
Alibaba to acquire China’s Ele.me at $9.5b valuation
Alibaba Group has agreed to acquire all the remaining shares of Ele.me, a Chinese food delivery platform backed by several private equity investors, in a transaction that values the company at $9.5 billion.
Unitas exits Chinese noodle shop chain
Unitas Capital has sold Gourmet Noodle House – a Chinese casual dining chain that operates under the Jiayo brand – to GreenTree Inns Hotel Management.
China's Bilibili completes $483m US IPO
Bilibili, a VC-backed Chinese animation streaming platform, ended its first day of trading on NASDAQ slightly below its IPO price following a $483 million offering.
VCs back $60m round for US, China-based Singlera Genomics
Chinese VCs Green Pine Capital Partners and Prosperico Ventures have led a $60 million Series A investment in US and China-based cancer diagnosis specialist Singlera Genomics.
Fund focus: CIC fund sees upside in trade chaos
A China-Europe cross-border VC fund backed by CIC plans to back technology companies positioned to benefit from new trade dynamics
Sequoia leads $50m round for China's Adagene
Sequoia Capital China has led an oversubscribed $50 million Series C funding round for Chinese biotechnology company Adagene.
China’s Hua Medicine gets $117m
Hua Medicine, a Chinese clinical-stage biotechnology company, has closed a combined Series D and Series E funding round at $117.4 million with support from a group of VCs.
Asia education: School's in
Education has emerged as the latest hot sector for private equity in Asia on the back of opportunities created by rising incomes and regulatory change. But higher valuations mean more pressure to deliver
Cathay launches $239m China smart energy fund
Cathay Capital Private Equity has launched a fund with a targeted corpus of RMB1.5 billion ($239 million) for investment in emerging technologies and business models in the Chinese energy sector.
China unicorn total surpasses 160
China had 164 unicorns worth a collective $628.4 billion at the end of last year, a government report stated, as the prospect of A-share listings by domestic internet companies was once again raised.
China B2B consumer goods distribution platform raises $33m
Zskuaixiao, a China-based business-to-business (B2B) consumer goods distributing platform, has completed a RMB205 million ($33 million) Series B round led by warehouse operator Global Logistics Properties (GLP) and Longzhu Capital – a corporate investment...
Yunfeng, Alibaba agree $1.4b iKang take-private
The protracted pursuit of Chinese healthcare services provider iKang Healthcare Group appears to have ended, with Yunfeng Capital and Alibaba Group agreeing to buy the business at a valuation of around $1.4 billion.
Ex-Warburg Pincus China head targets $1b fund
David Li, the former head of China at Warburg Pincus, has established his own private equity firm – known as Centurium Capital – and is seeking to raise $1 billion for a debut China fund.
PE-backed Sunlands completes $149m US IPO
Private equity-backed Sunlands Online Education ended its first day of trading on the New York Stock Exchange marginally below its IPO price following a $149.5 million offering.
China's VC-backed 51 Credit Card files for HK IPO
Chinese online credit card management platform 51 Credit Card, which is backed by a handful of VC and strategic investors, has filed for a Hong Kong IPO.
China’s CHJ Automotive raises $474m Series B
Chinese electric vehicle maker CHJ Automotive has completed a RMB3 billion ($474 million) Series B round led by Matrix Partners China and Shougang Fund, an investment firm backed by state-owned steel producer Shougang Corporation.
Naspers pares stake in China's Tencent
Naspers has sold a small portion of its stake in Tencent Holdings – the Chinese internet giant in which it acquired an approximately one-third stake for $32 million 16 years ago – for HK$76.9 billion ($9.8 billion).
Shunwei leads $25m Series B for US, China-based ScaleFlux
Shunwei Capital has led a $25 million Series B round for ScaleFlux, a hardware firm based in the US and China.
Brookfield, GLP launch China rooftop solar venture
Brookfield Asset Management and Singapore-based warehouse operator GLP have formed a joint venture aimed at enabling construction of rooftop solar projects in China.
Hong Kong pledges to foster local start-up ecosystem
Hong Kong plans to increase funding to two local incubation programs – Cyberport and Hong Kong Science & Technology Park (HKSTP) – in the expectation they will play a leading role in the drive to turn the territory into an innovation hub.
Fund focus: Redpoint restates its local credentials
Redpoint China Ventures has raised $110 million for its debut renminbi-denominated fund, which is expected to offer greater flexibility in backing start-ups in the early stages
China tightens controls on LP participation in offshore funds
China's National Development and Reform Commission (NDRC) has implemented rules that effectively add another layer of approval for LP commitments by domestic investors to offshore private equity funds.
Chinese computer rental start-up gets $32m Series C
Source Code Capital has led a $32 million Series C round of funding for Edianzu, a Chinese start-up that rents out computers and other office equipment to corporate customers.