China
Chinese pharmaceutical platform Yaoshibang raises $270m
Chinese B2B pharmaceutical trading platform Yaoshibang has raised $270 million from Guangdong Pearl River Investment, Baidu, Sunshine Insurance, Green Pine Capital Partners, Guangzhou government-backed S Fund, and an undisclosed sovereign wealth fund....
Q&A: Yunqi Partners' Yipin Ng
Pre-pandemic, it was unclear whether China’s software-as-a-service (SaaS) industry could achieve monetization. Much has changed since then, says Yipin Ng, co-founder and managing partner of Yunqi Partners
Deal focus: Chubby Bear thinks beyond marketplaces
B2B trading platform Chubby Bear not only wants to drive consolidation in China’s renovation materials space, but also provide exclusive products and supply chain services to contractors
Vision Fund backs Sinovation's AI consulting business
AInnovation, an artificial intelligence (AI) consulting business established by Sinovation Ventures, has completed Series D funding led by SoftBank Vision Fund II. The size of the deal was not disclosed.
China ride-hailing giant Didi files for US IPO
Chinese ride-hailing platform operator Didi, which has raised over $20 billion in private funding during its nine-year history and is valued at more than $60 billion, has filed to list in the US.
H Capital leads $300m round for China car trading platform
Chehaoduo, operator of China auto trading platforms Guazi and Maodou, which specialize in used and new cars, respectively, has raised $300 million in funding led by H Capital at a valuation of more than $10 billion.
China gene sequencing company raises $63m
QitanTech, a gene sequencing start-up also known as Qitan Technology, has raised a RMB400 million ($63 million) Series B round led by Hillhouse Capital and a VC arm of CDH Investments.
Alibaba Cloud to invest $1b in Asia start-ups
Alibaba Cloud, the cloud computing and artificial intelligence unit of the eponymous Chinese internet giant, has pledged to invest $1 billion in Asia Pacific start-ups over the next three years.
China LiDAR specialist Hesai closes $300m Series D
Hesai Technology, a China-based developer of sensors used in autonomous driving, has raised a $300 million Series D round led by GL Ventures.
TPG leads $220m round for China's Dingdang Health
TPG Capital has led a $220 million round for Chinese online pharmacy services provider Dingdang Health.
GP profile: Hosen Capital
From renminbi funds to US dollar funds and from growth equity to buyouts, Hosen Capital has been through several evolutions in its first decade. Meeting China’s food needs remains a constant
Fund focus: Unicorn does the hard yards
Six-year-old Unicorn Capital Partners has closed its latest China VC vehicle at the hard cap of $450 million, proving there is demand for fund-of-funds that offer something different
CITIC entities commit $94m to China's Simcere Diagnostics
SimCere Diagnostics, the diagnostics arm of Hong Kong-listed SimCere Pharmaceutical Group, has raised RMB600 million ($94 million) in Series B funding led by CITIC Securities and CITIC Medical & Health Fund.
Blackstone buys International Data Group from China Oceanwide
The Blackstone Group has agreed to acquire International Data Group (IDG) from China Oceanwide Holdings for an enterprise valuation of $1.3 billion.
China renovation materials trading platform raises $400m
Chubby Bear, a Shanghai-based B2B platform that matches buyers with suppliers of renovation materials, has raised $400 million across two tranches of Series C funding.
Orchid Asia reaches $1.1b first close on Fund VIII
Orchid Asia has achieved a first close of $1.1 billion on its eighth fund, five months after launching the vehicle with a full target of $1.6 billion.
Primavera buys Reckitt's China formula business for $2.2b
Primavera Capital Group has agreed to acquire UK-headquartered multinational Reckitt Benckiser’s China infant formula and child nutrition business for an enterprise value of $2.2 billion.
China's Oceanpine raises $312m for renminbi hard-tech fund
Chinese technology and healthcare investor Oceanpine Capital has closed its Hardcore Technology Investment Fund on RMB2 billion ($312 million). LPs include government guidance funds and fund-of-funds in Suzhou, where the new vehicle is based.
China mRNA specialist Stemirna gets $200m in funding
Stemirna Therapeutics, which claims to be the first biotech company to bring an mRNA therapeutics and nanomedicine platform to China, has raised $200 million in funding.
Unicorn raises $450m for VC fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its latest vehicle at the hard cap of $450 million. The process took six months and the fund was oversubscribed
China SaaS provider Xforceplus raises $200m
Chinese software-as-a-service (SaaS) provider Xforceplus has raised a $200 million round led by Silicon Valley’s Dragoneer Investment Group and Beijing-based MSA Capital.