China
CMIG to create $15b One Belt One Road fund
China Minsheng Investment Group (CMIG), the largest privately-held investment group in China, has initiated a new fund that could raise up to $15 billion for investment in overseas projects under the government-backed "One Belt One Road" initiative.
Hony ups stake in Australia’s Santos
Chinese private equity firm Hony Capital has invested A$184.3 million ($136.8 million) to increase its minority stake in Australia-listed oil and gas supplier Santos.
China's Ping An to launch $1b global fintech, healthcare fund
China’s Ping An Insurance is launching a $1 billion fund that will make financial technology and healthcare investments globally as the company looks to establish a footprint beyond its home market.
DBAG sells Romaco Group to Chinese strategic
German PE firm Deutsche Beteiligungs AG (DBAG) has agree to sell its entire stake in packaging and processing technology specialist Romaco Group to China-based mechanical engineering company Truking Group.
NetEase raises $23m for pig farm business
China local services platform Meituan-Dianping and Sinovation Ventures have jointly led a RMB160 million ($23m) Series A round for Weiyang, a pig farm business unit owned by Chinese internet firm NetEase.
VC-backed China Rapid Finance raises $60m in US IPO
China Rapid Finance (CRF), a VC-backed peer-to-peer (P2P) lending platform, is trading up 32% on its IPO price following an offering on the New York Stock Exchange that raised $60 million.
CRCI, Chinese strategic agree $595m carve-out of Bosch unit
China Renaissance Capital Investment (CRCI) and Chinese industrial group Zhengzhou Coal Mining Machinery (ZMJ) have agreed to buy a starter and generator (SG) manufacturing business from German engineering multinational Robert Bosch for EUR545 ($595 million).
Baidu Capital leads $156m round for China’s Huochebang
Baidu Capital, a VC firm backed by Chinese search engine Baidu, has led the $156 million second tranche of a Series B round for Huochebang, a Chinese B2B-focused online truck logistics platform.
Chinese universities and technology: Making a market
While US universities use licensing to commercialize technologies, their Chinese peers play a more active role in cultivating start-ups because the country has yet to develop a supporting ecosystem
Alternative exits: Tricks of the trade
Trade sales can provide investors in underperforming companies with an opportunity to reshape their investments, but they must be willing to let go of previous expectations and show flexibility
Temasek, Yunfeng lead $75m round for contract genomics player
Temasek Holdings and Chinese PE firm Yunfeng Capital have jointly led a $75 million Series B round for Wuxi NextCode, a genome sequencing analysis subsidiary of China-based contract research organization (CRO) WuXi PharmaTech.
Hillhouse, CDH propose $6.8b take-private of Belle International
CDH Investments has teamed up with Hillhouse Capital on a proposed HK$53.1 billion ($6.8 billion) privatization of Belle International, a Chinese shoe retailer that it first backed in 2005 and took public two years later.
China ride-hailing app operator Didi raises $5.5b
Chinese ride-hailing app operator Didi Chuxing, which is backed by an assortment of private equity and strategic investors, has raised $5.5 billion in a fresh round of funding.
CDIB invests in South Korean skincare company
CDIB Capital, the private equity arm of Taiwan’s China Development Financial, has invested an undisclosed sum in L&P Cosmetic, a skincare company based in South Korea.
Banyan leads round for China education courses platform
Banyan Capital has led a Series A round of funding for Lizhiweike, a Chinese online education mobile platform, with participation from existing investor GSR Ventures.
Fund focus: ClearVue brings consumer clarity
Having raised $362 million for its second fund, and diversifying its LP base in the process, Chinese GP ClearVue Partners has proved there is appetite for consumer sector specialists that have the right skill sets
China co-working space operators UrWork, New Space merge
UrWork, a Chinese VC-backed co-working office space provider, has agreed to merge with its industry peer New Space. The combined entity will be worth RMB9 billion ($1.3 billion).
Oriza Seed leads $25m Series A for Shanghai biotech firm
Oriza Seed Venture Capital, an early-stage and growth-stage investment unit under China’s Oriza Holdings, has led a $25 million Series A round for EpimAb Biotherapeutics, a Shanghai-based biopharmaceutical firm.
China's sharing economy: The peer effect
Bicycle-sharing is following the lead of ride-hailing in China – with start-ups consuming large amounts of capital in a battle for market share. What does it say about the broader sharing economy opportunity?
China, US-based Sensoro raises $18m Series B
Sensoro, an internet-of-things (IoT) technology supplier based in the US and China, has received an $18 million Series B funding round from Tsing Capital, Sumitomo Corporation and Bosch.
China’s Yi Capital closes $116m VC fund
Yi Capital, a Beijing-based VC firm founded by two former partners at CDH Investments, has closed its debut renminbi-denominated fund at RMB800 million ($116 million).
Ant Financial invests in VC-backed bike-sharing service Ofo
Ofo, a Chinese bike-sharing company that completed its $450 million Series D round of funding less than two months ago, has received a strategic investment of undisclosed size from Ant Financial, Alibaba Group’s financial services affiliate.
AGIC acquires European medical supplier, targets China growth
AGIC Capital has acquired 100% of Slovenia-based medical equipment supplier Fotona as part of a plan to expand operations in Asia with an emphasis on China. The deal will facilitate an exit for US private equity firm The Gores Group.
China AI specialist Sense Time gets $60m from Sailing
Sailing Capital has provided $60 million in Series C funding to artificial intelligence (AI) and deep learning technology start-up Sense Time, less than six months after the Beijing-based company announced its previous round.