China
China's Orient Hontai to buy US mobile marketing platform
Chinese private equity firm Orient Hontai Capital has agreed to acquire a controlling stake in US-based mobile marketing platform provider AppLovin in a transaction valued at $1.4 billion.
Asia-IO, Redview buy Source Photonics from US GP
Asia-IO Advisors – a PE firm set up by Denis Tse, formerly of Lockheed Martin Investment Management, and Michael Prahl, a professor at business school INSEAD – has teamed up with New Horizon Capital spin-out Redview Capital to buy US communications...
Shanhai Capital to acquire US VC-backed Analogix
Beijing Shanhai Capital Management has led a consortium of investors to acquire US-based microchip manufacturer Analogix Semiconductor for more than $500 million.
China’s Neusoft partners with Israeli PE firm for $250m medtech fund
Infinity Group, a China-Israel cross-border private equity firm, has partnered with Chinese IT services provider Neusoft Corporation to launch a $250 million medical technology fund.
CPPIB to assist China on pension policy reform
Canada Pension Plan Investment Board (CPPIB) has signed an agreement with China’s National Development & Reform Commission (NDRC) to provide assistance to policymakers as they address the challenges presented by an aging population.
China K-12 education app Zuoyebang raises $60m Series B
Zuoyebang, a K-12 focused education mobile app that spun out from Chinese online search engine Baidu, has raised a $60 million Series B round co-led by GGV Capital and Xiang He Capital, a new VC firm set up by a former executive at Baidu.
China recruitment app Boss Zhipin raises $28m
Boss Zhipin, a Chinese recruitment app, has raised a $28 million Series C round across two tranches of funding.
Sino-US shopping app Operator raises $15m Series B
Operator, a US-based conversational shopping app, has closed a $15 million Series B round led by GGV Capital, which is intended to help accelerate its expansion in China.
Deal focus: Yao takes the fight to China
Yao Ming-backed PE firm will grow the reach of kickboxing by emphasizing similarities to Chinese fighting styles
Hony invests another $193m in Lee & Man Handbags
Hony Capital has agreed to invest HK$1.5 billion ($193 million) in convertible bonds issued by Lee & Man Handbags, a Hong Kong-listed handbag manufacturer, potentially taking its interest in the company past 80%.
FountainVest raises $2.1b for third China fund
FountainVest Partners has closed its third China-focused fund at the hard cap of $2.1 billion after approximately six months in the market
H&Q backs US, China-based EV player
H&Q Asia Pacific has led a $7.8 million investment in Efficient Drivetrains (EDI), a US and China-based developer of electric vehicle (EV) systems and technologies.
Chinese credit card management app raises $310m Series C
U51.com, a Chinese credit card management mobile app, has raised a $310 million Series C round led by A-share listed property developer Xinhu Zhongbao and domestic VC firm Tiantu Capital.
Chinese online lender FirstP2P secures $70m
FirstP2P, a Chinese online peer-to-peer (P2P) financing site, has raised a $70 million Series C round led by existing investor CCB International.
Lindeman Asia backs China's Cogobuy – update
Lindeman Asia Investment has joined China Reinsurance and People's Insurance Company of China in a HK$2 billion ($258 million) investment in Hong Kong-listed e-commerce company Cogobuy.
Fund focus: Sinovation gets new firepower
Innovation Works changes its name, but plans to keep focusing on China's growing tech talent
KKR hires China Development Financial's Paul Yang as China head
KKR has recruited Paul Yang, president and CEO of Taiwan-headquartered China Development Financial Corporation (CDF), to become head of Greater China. He will continue the firm’s efforts to broaden its business locally and participate up and down the...
Northern Light leads Series B for China’s TenNor Therapeutics
Northern Light Venture Capital (NLVC) has led a $25 million Series B funding round for TenNor Therapeutics, a Chinese drug developer specializing in infectious diseases.
China LeEco’s smart car unit raises $1b
Leshi Internet Information and Technology, also known as LeEco, has raised $1.08 billion for its self-driving electric car project.
IFC proposes $25m commitment to Maison's China fund
The International Finance Corporation (IFC) is considering an investment of up to $25 million in Maison Capital’s debut US dollar-denominated China fund, which has an overall target of $200 million.
Linear Venture closes $70m China early-stage VC fund
Linear Venture, a Chinese early-stage VC firm founded by former Facebook and JD.com employees, has closed its second fund – which comprises US dollar and renminbi-denominated tranches – with approximately $70 million in aggregate commitments.
Qiming backs China rehabilitation services provider
Qiming Venture Partners has invested an undisclosed sum in LIH Investment & Management, a Beijing-based healthcare company that specializes in providing rehabilitation services.
Ex-Sailing Capital partner Michael Weiss joins China’s Sanpower
Michael Weiss, formerly a partner and managing director at Chinese cross-border PE firm Sailing Capital, has joined Chinese conglomerate Sanpower Group as vice president in the investment department.
MLS, 1955 Capital back US agrochemicals specialist
Crop Enhancement, a US-based company that develops sustainable agrochemicals, has received an $8.5 million Series B round led by the Asia and Americas-focused MLS Capital Fund II and 1955 Capital, a cross-border PE firm set by former Khosla Ventures partner...