China
Lyfe, Qiming lead Series B for China ADC player Medilink
Suzhou Medilink Therapeutics, a Chinese biotech company specializing in antibody-drug conjugates (ADCs) commonly used as targeted therapies for treating cancer, has raised a USD 70m Series B led by Lyfe Capital and Qiming Venture Partners.
China 3D content platform Xverse raises $120m
Xverse, a Shenzhen-based 3D user-generated content platform has raised USD 120m across a Series A and a Series A extension, led by GL Ventures and Sequoia Capital China, respectively.
Source Code leads Series B for China's Fair Robotics
Fair Robotics, a China-based collaborative robot developer, has raised a USD 50m Series B round led by Source Code Capital.
China's Cloudview reaches $316m first close on renminbi fund
Cloudview Capital, a Chinese GP that previously operated as a joint venture with ICBC International, has completed a first close on its second renminbi-denominated Fund with CNY 2bn (USD 316m) in commitments.
China smart text processing start-up raises $92m
Data Grand, a China-based specialist in text recognition and processing robotics, has raised CNY 580m （USD 92m）in Series C round featuring China Merchants Securities, CITIC Securities, GF Securities, and China Securities.
China's Pony.ai hits $8.5b valuation with Series D
Chinese autonomous driving technology supplier Pony.ai has closed the first tranche of a Series D round at a valuation of USD 8.5bn. This represents a 65% increase from the Series C.
Deal focus: Inspiration snares rare China mid-cap tech buyout
Antute, a third-party IT maintenance provider, became an orphan asset following a larger M&A deal. Inspiration Capital Partners sees it as an attractive play on China’s digitalisation drive
Deal focus: Nexus Point doubles down on dentistry
With a dentist clinic chain already in the portfolio, Nexus Point Capital has backed a B2B procurement platform that services clinics. It is a firm believer in the industry’s tailwinds
Deal focus: Freemium works for Dianxiaomi
China cross-border e-commerce services platform Dianxiaomi has achieved traction, and profitability, by only charging for value-added services. Its Series C will fuel global expansion
China cancer drug developer InxMed raises $50m
InxMed, a China-based biotech company focused on oncology treatments, has raised a USD 50m Series B round led by SDIC China Merchants Investment.
China 3D cell culture business secures Series B
CytoNiche, a Beijing-based provider of 3D micro-structure engineering technology used for stem cell research, has raised nearly CNY 300m (USD 47m) in a Series B led by Gaorong Capital and CICC Capital.
China's VC-backed Perfect Corp agrees $1bn SPAC merger
Perfect Corp, a Chinese software developer specialising in artificial intelligence (AI) and augmented reality (AR) solutions that allow consumers to experience brands, has agreed to merge with a US-listed special purpose acquisition company (SPAC) at...
China logistics player Jumeng raises $100m
Fortuna Capital has led a USD 100m investment in Shanghai truck-based logistics platform Jumeng Logistcs, described as the third tranche in a Series B round. IDG Capital also took part.
China's Qiming recruits partner from LACERA
David Chu, formerly of Los Angeles County Employees Retirement Association (LACERA), has become a partner at China-based Qiming Venture Partners with responsibility for fundraising and investor relations.
China VC: Funding puzzles
Late-stage investors are appearing in earlier funding rounds in China, offering premium valuations but potentially leaving start-ups in situations where they have too much too soon
China 5G chip designer Cygnus raises $100m
Chinese 5G chip design company Cygnus Semiconductor has raised USD 100m in Series A funding and an extended pre-Series A round led by Matrix Partners China and Wofo Capital.
China e-commerce SaaS player secures $100m Series C
China-based e-commerce software-as-a-service (SaaS) provider Dianxiaomi has secured a USD 100m Series C round led by Tiger Global Management and Huaxing Growth Capital.
Sequoia, Legend back China autonomous driving player Inceptio
Sequoia Capital China and Legend Capital have led a USD 188m Series B extension for Inceptio, a Chinese autonomous driving technology developer that specialises in line-haul trucking.
China cross-border fintech start-up secures $20m
Dowsure, a Shenzhen-based financial technology start-up that has developed credit-checking software that enables banks to lend to small-scale e-commerce vendors, has secured USD 20m in Series B funding.
ZWC, IDG back China social CRM service provider
Wshoto – a Chinese social customer relationship management (SCRM) service provider that focuses on the WeChat ecosystem - has raised a CNY 300m (USD 47m) Series B round across two tranches.
CLSA launches $500m China growth fund
CLSA Capital Partners (CLSA CP) has launched a China growth fund focused on healthcare, smart manufacturing, renewable energy, tech-enabled media. The target is USD 500m.