China
GGV reaches $1.2b final close on Sino-US VC fund
GGV Capital has closed its latest VC fund at $1.2 billion across three vehicles – a core venture fund, an early stage fund and an entrepreneurs fund – that will target start-ups and growth-stage technology deals in China and the US.
Chinese travel app developer Huoli secures $144m
Shenzhen Huoli Tianhui Technology, the parent company of Chinese flight management app Flights Manager, has raised RMB933 million ($144 million) in a Series C round of funding.
China Growth Capital leads round for auto-focused lending platform
China Growth Capital has led an extended RMB217 million ($34 million) Series A round for Chedai.com, a Chinese automobile financial lending platform.
Ex-Warburg Pincus China head David Li joins Ucar
David Li, former managing director and head of China at Warburg Pincus, has joined the PE firm’s portfolio company Ucar, a Chinese chauffeured car service provider, as vice chairman.
Shaw Kwei merges precision parts makers Beyonics and Chosen
Shaw Kwei & Partners has merged two Singapore-headquartered portfolio companies – Beyonics and Chosen – to form a leading Asian-based precision parts manufacturing group.
Seed investors still cautious on valuations
Seed-stage valuations remain robust despite a general cooling in the global venture funding market that has seen a number of highly-valued technology start-ups raise later-stage down rounds.
Everbright ReinFore closes debut China fund at $355m
Everbright ReinFore, a China-focused PE firm that spun out from an offshore asset management arm of China Everbright Group, has reached a final close on its debut fund at approximately $355 million across two vehicles.
Orchid Asia, Eastern Bell in Series B for China’s Weimeizi
Orchid Asia Group and Eastern Bell Ventures have provided a Series B round of funding for Weimeizi, a Chinese personal care products manufacturer.
Addor leads $70m round for China app developer
Addor Capital has led a $70 million round for Chinese Android-focused mobile app developer Holaverse.
JD Finance invests in VC-backed Meili Jinrong
JD Finance, the financial subsidiary of Chinese online retailer JD.com, has invested an undisclosed sum in Meili Jinrong, a peer-to-peer (P2P) online lending platform with a focus on consumer finance. Both companies are backed by several VC investors.
China HR services platform Joyowo secures $15m
Joyowo.com, a Chinese online HR services platform, has raised a RMB100 million ($15 million) Series B round from VC investors including Sequoia Capital, Greenwoods Asset Management and Meridian Capital.
Unicorn raises $210m for China VC fund-of-funds
Unicorn Capital Partners, a China-focused venture capital fund-of-funds launched by Emerald Hill Capital Partners alumnus Tommy Yip, has closed its debut fund at about $210 million.
Q&A: NDE Capital's John Lin
With a remit to target cross-border investments that incorporate China and Southeast Asia, NDE Capital is an active player in Indonesia. John Lin, the firm’s managing partner, explains why he is bullish about the market
Ally Bridge backs Chinese oncology-focused big data company
Healthcare-focused GP Ally Bridge Group has led a Series B round of funding for LinkDoc Technology, an oncology-focused big data company based in China.
China Everbright boosts exposure to Haiyin’s cross-border fund
China Everbright has committed an additional $15 million to Haiyin Capital’s latest VC fund, also claiming co-investment rights in the fund's US portfolio companies.
Temasek leads $45m round for China logistics data provider
Singapore’s Temasek Holdings has led a $45 million extended Series C round for G7, a Chinese logistics data smart device marker. Existing backers Tencent Holdings and Eastern Bell Venture Capital also participated in the round.
KKR closes $3.3b global special situations fund
KKR has reached a final close of $3.3 billion for its second global KKR Special Situations Fund (KSSF), which will target investments in distressed or event-driven situations.
China’s Xiaomi leads $25m round for India-based Hungama
Chinese smart phone maker Xiaomi has led a $25 million round of funding for Hungama Digital Entertainment, an Indian music and video online platform.
KKR to sell majority stake in SMCP to China’s Shandong Ruyi
Chinese textiles producer Shandong Ruyi Technology Group has agreed to acquire a controlling stake in SMCP Group, a French apparel retailer backed by KKR.
Anbang-led consortium withdraws $14b bid for Starwood
A consortium led by China’s Anbang Insurance Group that was vying to take over Starwood Hotels & Resorts Worldwide has withdrawn its $14 billion bid for the company.
CITIC Capital targets $1.5b for China fund
CITIC Capital Partners is targeting $1.5 billion for its latest China-focused private equity fund, having combined the teams that previously pursued separate China and international strategies.
China’s Le Sports completes $1.2b Series B round
Le Sports, an independently funded subsidiary of China’s LeTV Holdings, has completed a $1.2 billion Series B funding round at a post-money valuation of $3.3 billion.
CITIC PE invests in China's New Journey Hospital
CITIC Private Equity (CITIC PE) has invested an undisclosed sum in New Journey Hospital Group, a Chinese cancer hospital operator.
China's Suning targets $7.7b for stand-alone investment arm
Chinese electronics retailer Suning Commerce Group will create an investment division with a view to reaching RMB50 billion ($7.7 billion) in assets under management. It is part of a strategic transformation through which the company is looking to establish...