China
Blackbird, Felicis invest $15m in Australia’s Canva
Canva, an Australian online design platform, has raised a $15 million round of funding led by existing investors Felicis Ventures and Blackbird Ventures.
VC value-add: Operational gambit
As competition for VC deals intensifies in Asia and capital becomes commoditized, GPs are stressing their value-add credentials. Should we believe the hype?
China used car platform Guazi finalizes $250m Series A round
Guazi.com, a China-based consumer-to-consumer (C2C) used car trading platform, has completed its $250 million Series A round of funding, which includes $204.5 million the company raised six months ago.
Baidu launches $200m VC fund to invest in AR, VR
Chinese search engine Baidu has launched a $200 million venture fund that will focus on next-generation technologies, such as augmented reality (AR) and virtual reality (VR).
ABF’s China cane sugar business sold to PE-backed consortium
Associated British Foods (ABF), a UK-based food processing and retailing company, has agreed to sell its cane sugar business in southern China to a PE-backed consortium led by Shenzhen-listed Nanning Sugar Industry for RMB1.68 billion ($252 million).
China’s Sinovation Ventures raises $674m across two funds
Chinese early-stage VC firm Sinovation Ventures, formerly Innovation Works, has closed its third US dollar-denominated fund and second renminbi fund, with more than $674 million in aggregate commitments.
Ex-NBA star Yao Ming's PE fund seals US kickboxing deal
Yao Capital, an investment firm co-founded by Chinese former NBA star Yao Ming, has invested in Singapore-based kickboxing programmer Glory Sports International. The deal includes a joint venture that will promote the sport in China.
Innovation Works launches fund with China’s Zall Group
China-based early-stage investor Innovation Works, which was founded by former Google China head Kai-Fu Lee, has teamed up with Hong Kong-listed real estate developer Zall Group to launch a private equity fund.
China logistics software start-up raises $25m Series B round
OTMS, a China-based logistics software developer, has raised a $25 million Series B round led by Weixing Chen, founder of local ride-hailing app operator Kuaidi Dache.
Foxconn invests $120m in China's Didi Chuxing
Foxconn Technology Group has invested $119.9 million in China-based ride-hailing platform Didi Chuxing at a valuation of $33.7 billion.
Equity International raises Asia fund to support e-Shang Redwood
Equity International (EI), a Chicago-based investment firm focused on real estate and infrastructure platforms in emerging markets, has closed its first Asia-focused fund, aimed at supporting Chinese warehouse firm e-Shang Redwood (ESR).
Wanda-lust: Chinese investment in the US movie industry
Jianlin Wang, chairman of Dalian Wanda Group, has set his sights on buying one of Hollywood's six major studios. The rationale is sound but a strategy of incremental acquisitions might work better
Deal focus: IDG, CEL play movie industry long game
In acquiring a controlling stake in Shanghai Film Art Academy, the IDG-Everbright M&A Investment Fund is looking to support the next generation of Chinese filmmakers
China’s Best Logistics raises $760m
Best Logistics Technologies, a China-based logistics and supply chain management business part-owned by Alibaba Group, has completed a $760 million round led by Everbright Financial Holding Asset Management and CITIC Private Equity.
Hong Kong's WeLab gets $25m credit facility from ING
ING Bank has extended a $25 million credit facility to Hong Kong’s WeLab, a private equity-backed mobile lending and credit analytics platform.
Wanderlust: PE taps into China's tourism boom
Ocean Link is China’s first private equity firm dedicated to investing in the travel and tourism industry. Can it successfully leverage an increasingly wealthy, free-spending and far-traveling domestic user base?
China local supermarket O2O player raises $195m
Huimin, a Chinese B2B e-commerce platform that focuses on small-scale supermarkets, has raised a RMB1.3 billion ($195 million) Series B round from a group of renminbi fund managers including Fortune Capital.
China online tourism operator Joyu Culture raises $150m
Shanghai Joyu Culture Communication, which operates Chinese VC-backed tourism booking site Lvmama.com, has raised RMB1 billion ($150 million) through a private placement on the National Equities Exchange and Quotations (NEEQ), also known as the New Third...
China online used car marketplace Renrenche raises $150m
Renrenche, a Chinese peer-to-peer second-hand car trading platform, has raised $150 million in the initial tranche of its ongoing Series D round of funding.
Primavera, Ant Financial to invest $460m in Yum China spin-out
Primavera Capital and Ant Financial Service Group have agreed to invest a combined $460 million in Yum China, a spin-out from US-listed Yum Brands which owns fast-food giants KFC, Pizza Hut and Taco Bell.
IDG-Everbright fund buys Shanghai Film Art Academy
China Everbright (CEL) and IDG Capital Partners have acquired a controlling stake in the Shanghai Film Art Academy for an undisclosed sum.
China's State Council proposes better deal for foreign VC firms
Foreign venture capital investors will receive equal treatment to their domestic counterparts as part of efforts to boost funding for start-ups, according to the Chinese government.
VC-backed Berry Genomics to list in Shenzhen via reverse merger
Berry Genomics, a Chinese genetic test developer backed by Qiming Venture Partners and Legend Capital, is looking to list in Shenzhen through a reverse merger.
China overseas car rental platform raises $22m
Yitu8.net, an overseas car rental platform for Chinese outbound travelers, has raised a RMB150 million ($22 million) Series B round led by Sanhua Holdings, a Chinese refrigeration and air-conditioning components manufacturer.