China
China's Insilico Medicine gets $60m Series D
Insilico Medicine, a China-based artificial intelligence (AI)-driven drug discovery company, has raised a USD 60 million Series D round.
DCP hits $2.5b first close on second China fund
DCP Capital has already completed five investments from its second China fund, having completed a first close of USD 2.5bn in January.
China machine vision company AlpsenTek raises $30m
Chinese machine vision developer AlpsenTek has raised a CNY 200m (USD 30m) Series A round led by Xunxing Investment, an arm of mobile brand Oppo, and Cowin Capital.
China autonomous driving player Minieye raises $120m
Chinese autonomous driving solutions provider Minieye has raised CNY 800m (USD 120m) in Series D funding across three tranches. The third tranche was led by Cathay Capital.
China secondaries: Liquidity play
Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds
Deal focus: Hike supports Song Yao's second act
Orienspace, a Chinese rocket developer founded by the entrepreneur behind DeePhi Technology, has secured USD 60m in funding from Hike Capital and others to accelerate its launch schedule
Cathay achieves $241m first close on renminbi fund
Cathay Capital Private Equity has reached a first close of CNY 1.6bn (USD 241m) on its second renminbi-denominated growth fund.
Vision Fund, GGV back China blockchain infrastructure player
China-based blockchain infrastructure developer InfStones has received USD 66m in funding led by SoftBank Vision Fund 2 and GGV Capital. Ince Capital, 10T Fund, SNZ Holding, and A&T Capital also participated.
Sequoia leads Series A extension for China's ProfoundBio
Sequoia Capital China has led a USD 70m extended Series A round for ProfoundBio, a Chinese drug developer with two cancer treatments entering phase-one clinical trials.
Boyu, Confitop lead pre-IPO round for China pet food player
Shandong Seek Pet Products, a China-based pet food manufacturer, has raised nearly CNY 500m (USD 75m) in pre-IPO funding led by Boyu Capital and Confitop Capital.
Deal focus: Bud puts content creators first
GGV Capital first backed Bud before the founders had a market-ready product. Now the company has closed a Series B round and is looking to take its user-generated content tools into more markets
China chip developer Hongjun raises $120m
Chinese chip developer Hongjun Microelectronics has raised CNY 800m (USD 120m) in angel and pre-Series A rounds led by Walden International, GL Ventures, and CDH Venture and Growth Capital.
Deal focus: WeRide confirms its ascendency
Chinese autonomous driving pioneer WeRide has climbed from near bankruptcy to a USD 4.4bn valuation within three years. A collaboration with Bosch could form a blueprint for other alliances
Trustar seeks $3.5b for fifth China buyout fund
Trustar Capital, formerly known as CITIC Capital Partners, is looking to raise USD 3.5bn for its fifth China buyout fund and USD 250m for a debut growth vehicle.
China energy storage start-up gets $48m pre-Series A
Zhongchu Guoneng Technology (ZGT), a China-based energy storage company, has raised CNY 320m (USD 48m) in pre-Series A funding led by Tsinghua Holdings Capital.
Bosch invests in China's WeRide
China-based autonomous driving technology developer WeRide has received a strategic investment from German engineering multinational Bosch.
Carlyle buys China's HCP Packaging from Baring Asia
The Carlyle Group will become HCP Packaging’s third consecutive private equity owner, having agreed to acquire the China-based packaging from Baring Private Equity Asia (BPEA).
China guidance funds pump $132m into Gowin Semiconductor
Chinese semiconductor manufacturer Gowin has raised an extended Series B round of CNY 880m (USD 132m) led by Guangzhou Bay Area Semiconductor Industry Group, which has now become the company's largest shareholder.
China's Primavera seeks $1.5b for carbon neutrality fund
China-focused Primavera Capital Group is looking to raise approximately CNY 10bn (USD 1.5bn) for a carbon neutrality fund, emphasising the increased popularity of sustainability strategies among local private equity investors.
Advent raises $25bn for global PE fund, targets China
Advent International has closed its largest ever global private equity fund at the hard cap of USD 25bn with plans to expand its investment activity in Greater China in the next few years.
Fund focus: XVC stresses its idiosyncrasies
The China VC firm cuts against the grain, eschewing investment committee meetings and embracing consumer deals while others shun them. It works from a fundraising perspective