China
China VCs tell start-ups to focus on sustainability - AVCJ Forum
China VC investors are reminding portfolio companies to pursue profitability rather than sky-high paper valuations as the market continues to rationalize following an explosion of activity in recent years.
Long Hill reaches $125m final close on debut fund
Shanghai-based venture capital firm Long Hill Capital Management, a spin-out from New Enterprise Associates (NEA), has closed its debut fund at $125 million.
Hony emphasizes its global ambitions
Hony Capital has reiterated its commitment to helping Chinese companies go global, in addition to supporting international firms that want to maximize their exposure to China – and the firm established a presence in Shenzhen to address these opportunities.
Asia’s LP landscape
Asia is increasingly a target for private equity firms on the fundraising trail, but the region’s LP base can be difficult to penetrate, with huge variations in size, appetite and sophistication
Ex-Shoreline executives reform as ShoreVest, target China NPLs
ShoreVest Capital Partners is bidding on its first Chinese non-performing loan (NPL) portfolios since the core team members departed Shoreline Capital.
Hony invests $121m in Australian oil player Santos
Chinese private equity firm Hony Capital has re-upped in Australia-listed oil and gas supplier Santos for A$159.2 million ($120.8 million).
Q&A: Qunar co-founder CC Zhuang
As co-founder of Chinese online travel site Qunar, Chenchao Zhuang has experience building and selling a technology business. Now a VC investor in his own right, he offers insights into the world of start-ups
Q&A: CDH Investments' Shangzhi Wu
Shangzhi Wu, chairman of CDH Investments, discusses China’s slowing economy, the gems to be found in the middle market, cross-border opportunities, and making a multi-strategy firm institutionalized
Chinese LPs: Untapped potential
Still at an early stage of its development, China’s LP community has minimal exposure to offshore private equity. Institutions with big checkbooks aren’t necessarily the fastest movers
Tech & government: 20 years of early days
Since the dawn of the internet in the mid-1990s spurred a global rebalancing of economic power, Asia’s newest VC heavyweights have raised questions as to how this technology-driven shift will be governed
Wattle Hill seeks $300m for Sino-Australian PE fund
Sydney-based private equity firm Wattle Hill RHC Funds has achieved a first close on its debut Sino-Australia cross-border fund with $200 million in commitments. The overall target is $300 million.
Ascendent backs China cancer diagnostics firm
Ascendent Capital Partners has committed RMB50 million ($7.36 million) to BioChain Beijing, a Chinese biotech company that focuses on early detection of cancer.
China online learning site Smartstudy raises $29m
Smartstudy.com, a Chinese online learning site, has raised a RMB200 million ($29 million) Series B round of funding led by Hong Kong-based private equity firm Golden Brick Capital.
China's Betta Pharma completes $106m domestic IPO
Betta Pharmaceuticals, a Chinese VC-backed drug developer backed by several venture investors, has completed a RMB720 million ($106 million) IPO on Shenzhen’s Growth Enterprise Market Board.
China bike-sharing start-up Ubike raises $22m
Ubike, a Chinese bike-sharing start-up, has raised a RMB150 million ($22 million) Series A round of funding led by Yicun Capital, a corporate PE arm of Shenzhen-listed chemical fiber manufacturer Jiangsu Huaxicun.
Alibaba, Legend invest $20m in China seafood importer Gfresh
Gfresh, a China-based seafood importer and online marketplace operator, has raised $20 million from Riverhill Fund, an investment arm of Alibaba Group, and Legend Capital.
China-backed PE firm buy Lattice Semiconductor for $1.3b
Canyon Bridge Capital Partners, a newly-formed US-based buyout firm backed by Chinese LPs, has agreed to acquire NASDAQ-listed chip maker Lattice Semiconductor for $1.3 billion.
China Film, Pegasus Media launch $100m movie fund
China Film, the country's largest movie distributor, and Pegasus Media Group have joined Hong Kong’s Co-High Investment Management to launch a $100 million film fund focused on US-China co-productions.
VC-backed GDS prices IPO below indicative range
GDS Holdings, a Chinese data center provider that counts SBCVC among its investors, raised $192.5 million in its US IPO after pricing the offering below the indicative range.
Singapore's Jubilee Capital in $30m first close on tech fund
Jubilee Capital, a newly formed venture investment firm based in Singapore, has reached a first close of $30 million on an early-stage technology fund targeting $100 million.
Q&A: Shoreline Capital's Xiaolin Zhang
Xiaolin Zhang, co-founder and managing partner at China-focused distress specialist Shoreline Capital, discusses the NPL opportunity and what private equity firms must do to address it
Blockchain: Ethereal frontiers
As blockchain segments mature in Asia, private equity and venture capital investors will benefit from a range of new entry points. Pitfalls related to the technology’s obscure nature, however, will persist
China short-term rental site Xiaozhu raises $65m
Chinese short-term rental site Xiaozhu.com has collected a total of $65 million across two tranches from a group of China-focused VC investors.
IDG, Promethus invest $30m in China’s KR Space
IDG Capital Partners and Prometheus Capital have invested RMB200 million ($30 million) in an extended Series A round of funding for KR Space, a provider of collaborative workspaces for Chinese start-ups