China
Cathay Capital leads $15m round for China’s Magmode
Magmode, a China-based men’s fashion start-up, has raised $15 million in the second tranche of a Series B round led by Cathay Capital Private Equity. Existing investor Sinovation Ventures also participated.
China AI chipset maker Cambricon raises $100m
Cambricon Technologies, a Beijing-based artificial intelligence (AI) developer, has raised a $100 million Series A round of financing from Lenovo Capital & Incubator Group (LCIG), and an investment unit owned by Alibaba Group.
CDH to invest in US housewares maker SharkNinja
China-focused private equity firm CDH Investments has agreed to invest in US-based SharkNinja, taking a significant stake in the small home appliances supplier for an undisclosed sum.
GIC, Yunfeng Capital LPs in $1.7b Asian insurance acquisition
Singapore’s GIC Private has joined a group of investors including Yunfeng Financial Group (YFG), a Hong Kong-based financial services company backed by Alibaba founder Jack Ma, in a $1.7 billion acquisition of insurance provider MassMutual Asia.
All-Stars leads $56m round for China’s Huochebang
Chinese B2B truck logistics platform Huochebang has received $56 million in the third tranche of a Series B funding round led by existing backer All-Stars Investment and joined by a number of undisclosed existing investors.
Alibaba leads $1.1b round for Indonesia’s Tokopedia
Tokopedia, a venture capital-backed online marketplace in Indonesia, has received a $1.1 billion funding round led by Alibaba Group that will see the Chinese e-commerce giant become a minority stakeholder.
Tech firms, state-backed funds in $12b China Unicom deal
State-owned telecom group China Unicom said it will raise RMB78 billion ($12 billion) from private and state investors – including domestic technology companies, Qianhai FoF and China Structural Reform Fund – in response to the government’s mixed-ownership...
Deal focus: Just delivers on cross-border promise
Lilly Asia Ventures, Arch Ventures and Temasek have backed the expansion of Just Biotherapeutics' China-based manufacturing and research operation
China's VC-backed Zai Lab files for US IPO
Zai Lab, a Chinese drug developer backed by several venture capital investors, has filed for a US IPO. The company has yet to indicate how many shares it plans to sell or at what price.
Qiming leads $21m round for Chinese cancer drug developer
China-based cancer drug developer Antengene Corporation has completed a $21 million Series A round of funding led by Qiming Venture Partners.
Deal focus: EmergeVest doubles its money on denim deal
EmergeVest has secured its debut exit with a $400 million trade sale of denim and garment maker JD United Manufacturer
GPs in $90m round for China’s IMS New Media Group
IMS New Media Group, a Chinese social media marketing firm, has raised a RMB600 million ($90 million) Series C round of funding across two tranches, with participation by SAIF Partners, Morgan Stanley, and social media platform Sina Weibo.
Chinese medical device company Ankon raises $100m
Shanghai-based Ankon Medical Technologies, which develops medical equipment for gastric examination, has raised a $100 million round of funding from investors including SBCVC.
Advantage exits China’s ESG Holdings
Advantage Partners has completed a full exit of Hong Kong-based and China-focused facility management services company ESG Holdings. It was the Japan-focused firm's first China buyout.
H Capital leads $150m round for China’s Zuoyebang
H Capital has led a $150 million Series C round of funding for Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu.
Mandarin acquires Italian ceramics business
Europe-Asia cross-border private equity firm Mandarin Capital Partners has acquired a 100% stake in Italian household ceramics supplier Elios Ceramica.
Chinese GPs back sports marketing player Mailman
Mailman, a sports-focused digital marketing agency in Shanghai, has completed an extended Series A round of funding worth $3 million from Yao Capital and Kaixing Capital.
Lilly Asia closes healthcare fund at $450m hard cap
China-focused Lilly Asia Ventures (LAV) has closed its fourth healthcare-focused fund at the hard cap of $450 million.
GPs commit $110m to PCCW's video streaming unit
Hony Capital, Foxconn Ventures and Temasek Holdings have agreed to acquire a combined 18% stake in PCCW International OTT, a video-streaming subsidiary of Hong Kong telecom giant PCCW, for $110 million.
KKR opens Shanghai office
KKR has opened an office in Shanghai, its third base in Greater China and eighth in Asia Pacific. The move comes two months after the firm closed its third pan-regional fund at $9.3 billion.
EmergeVest secures 2x return on first exit
EmergeVest, a Hong Kong-based boutique PE firm established by two former executives from HSBC’s Asia principal investments division, has secured its first exit with the sale of apparel supplier JD United Manufacturing (JDU) to Taiwan-listed Roo Hsing.
Chinese supply chain financing player gets $30m Series B
Linklogis, a Chinese supply chain finance provider, has raised RMB200 million ($30 million) in Series B funding from Tencent Holdings, China Merchants Venture Capital and Bertelsmann Asia Investments.
Profile: Tsing Capital's Don Ye
Don Ye, founder and managing partner for Tsing Capital, is sometimes called the ‘elder statesman’ of cleantech investment in China. Formative years in the US helped him clarify an actionable world view
China B2B fabrics trading app Baibu secures $25m
Chinese VC firm Yunqi Partners has led a RMB165 million ($25 million) extended Series B round for Baibu, a textile and fabrics B2B trading platform.