China
Xiaomi invests $70m in China LiDAR specialist Hesai
Xiaomi Industrial Investment Fund, a vehicle controlled by smart devices brand Xiaomi, has invested $70 million in Hesai Technology, a China-based developer of sensors used in autonomous driving.
COVID-19 validates sector lens strategies – AVCJ Forum
COVID-19 has reinforced the argument for developing sectoral expertise that spans geographies, industry leaders told the AVCJ Private Equity & Venture Forum.
Ascendent abandons China education take-private
A consortium led by Ascendent Capital Partners has abandoned its planned $230.6 million take-private of Tarena International, a China-based provider of adult professional and K-12 education services.
China's Bits x Bites closes second food tech fund at $100m
Bits x Bites, a Chinese VC firm focused on agriculture and food technology such as alternative protein, has closed its second fund at $100 million, beating a target of $70 million.
CBC, APG launch China healthcare infra fund
Specialist healthcare investor CBC Group has teamed up with APG Asset Management to launch a $1.5 billion fund dedicated to the development of healthcare infrastructure in China.
CMC, Goldman lead $150m round for China's Cyclone Robotics
Cyclone Robotics, a Shanghai-based robotic process automation (RPA) start-up, has raised $150 million in a Series C round led by CMC Capital Group and Goldman Sachs Asset Management.
Vision Fund backs China cleaning robot maker
SoftBank Vision Fund 2 and Capital Today have led a RMB1.2 billion ($188 million) Series C round for Chinese cleaning robot maker Gaussian Robotics.
Centurium invests $100m in China caterer Meican
Centurium Capital has provided a $100 million Series E round for Meican, a Chinese corporate food services company.
China's Red raises $500m at $20b valuation
Chinese social e-commerce app Xiaohongshu, also known as Red, has raised a $500 million round led by Temasek Holdings and Tencent Holdings at a valuation of $20 billion, up from $3 billion in 2018.
China regulation: Shock and awe
A raft of rules, largely targeting the technology sector, has challenged business cases and thwarted exits in China. It is also contributing to tweaks in investment strategy
GL Capital leads $125m round for Hzymes Biotechnology
Wuhan-based Hzymes Biotechnology, a specialized enzymes developer, has raised RMB800 million ($125 million) in Series C funding led by healthcare specialist GL Capital
Hong Kong IPOs: Winner by default
New York’s loss is expected to be Hong Kong’s gain as regulatory and political turbulence drives Chinese start-ups to look for alternative listing destinations – unless valuations become a sticking point
China CRO Tripod raises $156m
Tripod Preclinical Research Laboratories, a China-based contract research organization (CRO) based in Nanjing, has raised RMB1 billion ($156 million) led by Ruihua Capital, Lilly Asia Ventures (LAV) and GL Ventures.
Tiger Global leads $100m round for China HR SaaS player
Moka, a Chinese software-as-a-service (SaaS) provider specializing in human resources services, has raised a $100 million Series C led by Tiger Global Management.
Sequoia, GIC backing propels Envision's funding round to $1b
Sequoia Capital China and GIC have joined Primavera Capital Group in backing China-based green technology player Envision Group, taking the company’s latest funding round to $1 billion.
China's Momenta adds $500m to Series C round
Strategic and financial investors have put another $500 million into Chinese autonomous driving technology developer Momenta, endorsing the company's two-legged approach to commercialization
Cross-currency restructuring underpins Ameba's VC fund
China-focused VC firm Ameba Capital has closed its debut US dollar-denominated fund at $265 million, supported by a renminbi-to-US dollar secondary restructuring and a primary staple.
KKR, 5Y lead Series C for China contact lens brand
Moody, a China-based cosmetic contact lens brand, has raised RMB1 billion ($156 million) in a Series C funding round led by KKR and 5Y Capital. Source Code Capital re-upped.
Logistics: Machinery machinations
As private equity goes deeper downstream in the e-commerce supply chain, technology has emerged as a prerequisite and stumbling block
Q&A: CVC Capital Partners' Hans Wang
Hans Wang, who leads the Greater China and Asia cross-border teams at CVC Capital Partners, discusses uncertainty in China, the evolution of partnership and control strategies, and how to stay ahead in Asia
China e-commerce: Chaos in the community
With investor sentiment on China’s technology sector cooling, community group buying platforms are battling to conserve cash. This has done little for the government’s anti-monopoly drive
3H Healthcare closes second US dollar fund at $330m
3H Healthcare Investment, which specializes in early-stage China biotech and medical devices deals, has closed its second US dollar-denominated fund at the hard cap of $330 million.