China
SBCVC-backed GDS targets $269.5m in US IPO
VC-backed Chinese data center provider GDS Holdings is seeking to raise up to $269.5 million in its NASDAQ IPO. The proceeds could reach $309.9 million if the overallotment option is fully exercised.
VC-backed Tujia acquires Ctrip, Qunar's homestay assets
Chinese vacation rental platform Tujia, which has several VC and PE investors, has acquired the homestay businesses of travel websites Ctrip and Qunar, strengthening its already dominant position in China’s accommodation sharing market.
Everbright-IDG fund invests $297m in China UnionPay Merchant
China Everbright (CEL) and IDG Capital Partners have acquired a 9.3% stake in China UnionPay Merchant Services (UMS), a third-party payment provider, for RMB2 billion ($297 million).
Chinese part-time jobs platform gets $40m Series C round
Doumi, a China-based platform that helps people find part-time jobs, has raised $40 million in Series B funding from Hillhouse Capital, Tencent Holdings, Baidu, and food and agribusiness conglomerate New Hope Group.
Temasek invests $250m in China healthcare venture
Singapore's Temasek Holdings has committed $250 million to hospital operator Columbia Pacific Management for a joint venture in China.
Chinese investors in $30m round for US genetic testing firm
Trustbridge Partners has led a $30 million Series B round for US-based genetic testing company Veritas Genetics.
PE investors commit $850m to Tencent's Supercell acquisition
CITIC Capital and several domestic investment funds have contributed $850 million to Tencent Holdings’ acquisition of a majority stake in Finland-based mobile game developer Supercell.
China boutique investment bank CEC buys Siemer & Associates
Chinese boutique investment bank and advisory firm CEC Capital Group – formerly known as China eCapital – has agreed to buy US-based counterpart Siemer & Associates (S&A).
China transport start-ups: Hot wheels
Bicycle-sharing start-ups are the latest investor craze in China’s technology-enabled transportation space. Can private sector operators make their business models work?
Chinese entrepreneurs: Under pressure
The health tolls of the entrepreneurial lifestyle and its effect on founders' lives and performance are an increasing source of concern for China's VC investors
China B2B liquor platform Yijiupi raises $100m Series C
China-based B2B liquor-trading platform Yijiupi has raised a $100 million Series C round led by existing investor Greenwoods Asset Management.
Shoreline spin-out DCL raises $500m China distress fund
DCL Investments, a spin-out from China-focused distressed debt and special situations investor Shoreline Capital, has closed its debut fund with more than RMB3.7 billion ($500 million) in commitments.
Asia PE-backed IPOs: Fits and starts
Development has been inconsistent in Asia’s IPO markets, with frequent pacing issues and challenges unique to each region. But in the right hands, they can still be highly rewarding for PE investors
MBK loses Greater China head KC Kung
Kuo-Chan Kung, partner and head of Greater China at MBK Partners – and a member of the original team that spun out from The Carlyle Group in 2005 – is leaving the firm.
Redpoint closes debut China VC fund
Redpoint Ventures, a US early-stage venture firm, has closed its debut China VC fund at $180 million.
PE-backed ZTO Express seeks up to $1.3b in US IPO
ZTO Express, a China logistics operator backed by investors including Warburg Pincus and Sequoia Capital, has set a target of up to $1.33 billion for its US IPO.
Indian news app Dailyhunt raises $25m
Indian online news aggregator Dailyhunt has raised a $25 million Series D round led by ByteDance, a Chinese VC-backed online content provider.
Hillhouse, Warburg, Tencent lead round for China's Mobike
Shanghai-based bike rental service start-up Mobike has raised a Series C round of funding led by Hillhouse Capital, Warburg Pincus and Tencent Holdings.
China GPs see window of opportunity to work with corporates on outbound M&A - M&A Forum
China-focused GPs are cautious about partnering with Chinese corporates on outbound M&A deals, although there is increasing demand for their support in terms of identifying acquisition targets and facilitating post-investment integration.
3Q analysis: Deep pockets of the state
Fundraising hits a record quarterly high, thanks entirely to Chinese government-backed vehicles; Australia, Southeast Asia compensate for investment slowdown in China; India shines on exits
Chinese corporates climbing learning curve on outbound deals - M&A Forum
Chinese corporates are becoming savvier in how they target overseas assets and engage in M&A activity, but preparation and sound advice are essential to deal execution and post-investment integration, industry participants told the China M&A Forum.
GM invests in VC-backed China car-sharing platform
General Motors has bought a stake in Chinese car-sharing company Yi Wei Xing, which is backed by Langmafeng Ventures and Fujian Huaxing Venture Capital.
China's Baidu launches $3b technology fund
Chinese search giant Baidu has established a RMB20 billion ($3 billion) investment fund, called Baidu Capital, to target mid- and late-stage deals in the internet industry.
China K12 education platform Xuele raises $200m Series C
Xueleyun, a Chinese education platform, has raised a $200 million Series C round led by China-based PE firm New Horizon Capital. Existing investors GSR Ventures and Huaxin Shiji Investment also participated in the round.