China
Fund focus: SBCVC moves with the times in China
Having raised $459 million for its latest venture capital fund, SBCVC is tracking the latest developments in China technology with a focus on robotics and advanced industrial applications
Innovation Works approved to list on China’s New Third Board
Innovation Works, a Chinese early-stage VC firm founded by ex-Google China head Kai-Fu Lee, has been approved to list on the National Equities Exchange and Quotations (NEEQ), an over-the-counter (OTC) market also known as the New Third Board.
VC-backed China healthcare platform raises $20m
We Doctor Group, a Chinese online healthcare information portal formerly known as Guahao.com, has raised a further $20 million from Shanghai-listed property developer Shandong Tyan Home.
PE investors complete acquisition of US chipmaker Omnivision
Hua Capital Management, CITIC Capital and Goldstone Investment have completed their acquisition of US-listed chipmaker OmniVision Technologies in a deal worth $1.9 billion.
Fund focus: New name, same agribusiness strategy
Following a spin-out from Cargill, the PE unit of Black River Asset Management has been renamed Proterra Investments Partners. The agriculture-focused remit is unchanged
CMC Holdings to buy 30% of Hong Kong-listed Meike
CMC Holdings, an investment platform launched by Ruigang Li, founder of media-focused PE firm CMC Capital Partners, has agreed to buy 29.55% of Hong Kong-listed sportswear manufacturer Meike Holdings.
Alibaba to sell stake in China O2O services platform
Alibaba Group has confirmed it will exit Meituan, the China-based online-to-offline (O2O) services provider that agreed to merge with rival Dianping last year, in order to focus on its own platform.
OCBC’s PE unit exits China-based Tsingda eEdu
Mezzanine Capital Unit (MCU), a PE investment unit under Singapore’s OCBC Bank, has sold its stake in China education service provider Tsingda eEdu, generating nearly 3x return on a $20 million investment made in August 2014.
China's Adagene raises $28m
Adagene, a China-based life sciences company focused on smart antibody technology, has raised a $28 million Series B round led by GP Healthcare Capital, the medical-focused subsidiary of China's GP Capital.
Hony to re-up in China’s Jinjiang International
Hony Capital has agreed to invest an additional RMB599 million ($91 million) hotel operator Shanghai Jinjiang International alongside other financial and strategic investors.
Everbright ReinFore invests in China’s Huasheng Finance
Everbright ReinFore, a private equity arm under China Everbright Group, has led a Series B round of funding for Huasheng Finance, a Chinese online lending platform.
Shanghai to compensate VCs for financial losses
The Shanghai government has proposed new measures to compensate early-stage investors’ for financial losses incurred by investing in local start-ups.
China Merchants Bank to invest in Didi Kuaidi
China Merchants Bank (CMB) has agreed to invest in Chinese ride-hailing app Didi Kuaidi, and to create a strategic partnership with the company as well.
PE-backed Hengyang Cattle set for China reverse merger
Heilongjiang Hengyang Cattle Industry, a Chinese beef processor backed by CDH Investments and other PE investors, plans to list in Shenzhen through a backdoor listing.
Deal focus: Fintech start-up WeLab seeks scale
With $160 million in Series B funding, Hong Kong-based WeLab wants to upgrade its people and technology in order to build a China online lending platform of real scale
Deal focus: Investors see value in China auto disrepair
China Pacific Insurance leads a Series B round for Bochewang, a car-trading platform that transfers damaged vehicles from insurers to rebuilders
LP interview: Hamilton Lane
In addition to an advisory business that targets large-scale LPs, Hamilton Lane has a discretionary portfolio geared towards the middle market. It expects Asian GPs in this space to adapt to changing dynamics
China venture: After the boom
Venture capital investors are set for a less frenetic year in China, but this isn't necessarily a bad thing for early-stage players
Yunfeng leads round for China reviews site
Yunfeng Capital has led an extended Series A round of funding for Du Yao, a China-based book and movie reviews platform.
China cloud storage firm Qiniu raises $100m
Qiniu, a Chinese cloud storage service provider, has received a $100 million Series D round from China Broadband Capital (CBC), Telstra Ventures and Chinese mutual fund provider Harvest Global Investments.
China's Jinpan agrees Forebright-backed privatization
Jinpan International, a US-listed Chinese electric transformer manufacturer, has agreed a take-private deal with the company’s chairman and Forebright Capital. It values the business at approximately $98 million.
KTB, Jolly Innovation lead $30m round for China's CARsgen
KTB Ventures and Jolly Innovation Ventures have led a $30 million Series B round for Shanghai-based cancer therapy developer CARsgen Therapeutics.
Qiming closes fifth China VC fund at $648m – update
Qiming Venture Partners has announced that it has closed its fifth US dollar-denominated China VC fund at $648 million.
CPIC leads $30m round for China restored car auction platform
China Pacific Insurance Corporation (CPIC) has led a RMB200 million ($30 million) Series B round for Bochewang.com, a Chinese online auction platform for restored cars.