China
CDH backs $200m buyout of China testing business
CDH Investments is supporting an acquisition of the professional testing business of US-listed Chinese education company ATA. It is working on the $200 million deal in partnership with ATA’s co-founder and CEO.
Sailing invests $30.6m in China-US biopharma player
Sailing Capital has invested $30.6 million in Cellular Biomedicine Group (CBMG), a China and US-based biopharmaceutical company focused on immunotherapy cancer treatments.
CITIC PE leads $55m round for China’s BroadLink
CITIC Private Equity has led a RMB343 million ($55 million) Series D round for China’s smart home technology solutions provider BroadLink. It is said to be the largest funding round for a domestic start-up in this market segment.
VC holding periods: Delayed gratification
The traditional IPO exit timeline for early-stage investors is being pushed out as technology companies raise additional private funding rounds. A more thoughtful approach to securing liquidity is often required
IDG Capital backs Chinese electric car maker
IDG Capital has invested RMB1 billion ($159 million) in Skio Matrix, a Chinese company that manufactures electric cars and batteries.
CDH leads $100m Series D for China’s Blued
CDH Investments has led a $100 million Series D round of funding for Blued, a leading gay dating app in China, with participation from UG Capital.
China’s Ping An raises $2.2b for healthcare, fintech units
Ping An Insurance Group has raised $2.2 billion in private equity funding for its three technology businesses: Ping An Good Doctor, Ping An Healthcare Management, and OneConnect Financial Technology.
CITIC Capital leads Series D for Organica Water
CITIC Capital has led a $21 million Series D investment in Organica Water, a US-based environmental infrastructure company with extensive operations in Asia.
Baidu Ventures makes $318m first close on AI fund
Baidu Ventures, an independent VC firm set up by Chinese internet player Baidu, has achieved a first close of more than RMB2 billion ($318 million) on its second renminbi-denominated fund that focuses on artificial intelligence (AI).
China’s Legend Star closes $127m VC fund
Legend Star, the early-stage investment arm of China’s Legend Holdings, has closed its third VC fund at RMB800 million ($127 million).
Navis to exit Singapore's MFS Technology with 3x return
Navis Capital Partners has agreed to exit its controlling position in Singapore-based circuit board maker MFS Technology. The GP will generate a 3x money multiple and an IRR of more than 40% on the investment.
Chinese auto financing site raises $92m Series B round
Meliche Jinrong, the online auto finance subsidiary of Chinese consumer loans site Meili Jinrong, has raised a $92 million Series B round led by local agribusiness player New Hope Group.
Cooley hires fund formation partner in Beijing
Cooley has hired Xun Zeng as a resident partner in its newly opened Beijing office. Zeng joins from Ropes & Gray in Hong Kong, where she was a counsel in the private investment funds group.
Ping An healthcare app files for Hong Kong IPO
Ping An Healthcare & Technology - the PE-backed business that runs the healthcare-focused mobile app known as Ping An Good Doctor in China - is seeking a separate listing in Hong Kong from its parent company Ping An Insurance.
China insurance and PE: Get real
The asset management units of Chinese insurance companies can no longer launch debt-like products masquerading as private equity, amid concerns about rising corporate and local government debt burdens
China electric car maker Xpeng raises $348m
Xpeng Motors, a Chinese electric car manufacturer, has completed a RMB2.2 billion ($348 million) Series B round of funding led by Alibaba Group, Foxconn Technology Group, and IDG Capital.
TPG acquires China hotel assets
TPG Capital, along with Chinese hotel manager China Lodging Group, has acquired two Beijing hotels for RMB1.2 billion ($186 million).
Chinese banks to launch debt-for-equity swap funds
Chinese banks will be allowed to raise capital from third-party investors to participate in debt-for-equity swap programs as regulators look for additional ways to alleviate the country’s corporate debt problem.
China private equity: A question of control
Is investor appetite for China's emerging buyout opportunity matched by an ability to run companies once they have been acquired?
Chinese financial services platform concludes $63m Series B
Huisuanzhang, a Chinese finance and tax management software developer, has completed a RMB400 million ($63 million) Series B round of funding across two tranches.
Deal focus: Rokid attracts interest as household AI heats up
The Series C round for smart household device manufacturer Rokid underlines investor interest in China-based artificial intelligence plays
Deal focus: Ziroom carves a rental niche
Ziroom receives $621 million in funding to build out its property management service that provides apartments for China's growing population of urban rentors
China’s Dianrong raises additional $70m for Series D
Chinese peer-to-peer (P2P) lending platform Dianrong has raised an additional $70 million in Series D funding, taking the total round to $290 million.
China fintech: Follow the consumer
A crackdown on cash loans has undermined investor confidence in China’s fast-growing online consumer-lending market. However, VC players are confident that start-ups can find other angles