China
China LiDAR specialist Innovusion raises $60m
Innovusion, a Chinese developer of LiDAR technology used in autonomous driving, has raised $60 million in funding. The company is best known as a supplier to domestic electric vehicle (EV) manufacturer Nio.
Addor raises $241m for second China healthcare fund
Addor Capital – a Chinese VC firm backed by Jiangsu High-Tech Investment Group, also known as Govtor Capital – has raised RMB1.56 billion ($241 million) for its second renminbi-denominated healthcare fund.
Founder of China's Zhencheng Capital launches SPAC
Jianwei Li, founding and managing partner of Chinese venture capital firm Zhencheng Capital and previously CIO at ZhenFund, has launched a special purpose acquisition company (SPAC).
PE-backed SciClone achieves $1.6b market cap on HK re-listing
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
Chinese GPU chip designer raises $186m
Iluvatar CoreX, a Shanghai-based computing chip designer has raised RMB1.2 billion ($186 million) in Series C funding led by Cedarlake Capital and Centurium Capital.
Deal focus: ANE Logistics targets attractive middle
China’s less-than-truckload logistics market, which sits in between express couriers and big truck operators, is ripe for consolidation. GPs have identified their favored players
Affinity adds to China team
Affinity Equity Partners has recruited Sam Sun, previously a partner at Sequoia Capital, as a managing director based in Beijing.
China VCs back See Fund's debut vehicle
See Fund, an investment firm established by the founder of Chinese artificial intelligence chip start-up DeePhi Technology, has raised RMB200 million ($31 million) for its debut fund.
VCs commit $50m to China's Medilink Therapeutics
Suzhou Medilink Therapeutics, a Chinese biotech company specializing in antibody-drug conjugates (ADCs) commonly used as targeted therapies for treating cancer, has raised $50 million in Series A funding across two tranches.
OrbiMed raises $800m for Asia life sciences fund
OrbiMed has closed its latest Asia life sciences fund, which primarily invests in China and India, with $800 million in commitments.
China cloud IoT provider Tuya files for US IPO
Tuya, a Chinese software platform for internet-of-things (IoT) systems that mainly offers platform-as-a-service (PaaS) products is pursuing a US IPO.
Lunar buys majority stake in Hong Kong IVF business
Chinese middle-market buyout firm Lunar has agreed to acquire a women’s health and IVF business from Mason Group, a Hong Kong conglomerate with interests in financial services and healthcare, for HK$268 million ($34.5 million).
Hillhouse launches China sports retail JV with US-based Fanatics
Hillhouse Capital has established a China joint venture with Fanatics, a US-based sports retailer that specializes in licensed sports apparel.
China EV battery maker raises $542m Series A
Svolt Energy Technology, formerly the battery business unit of Chinese automaker Great Wall Motor, has raised a RMB3.5 billion ($542 million) Series A round featuring a string of government-linked investors.
VCs flock to Chinese chip designer Moore Threads
Moore Threads, a Chinese chip designer established as recently as last October by a team from Nvidia, has closed two funding rounds amounting to several billion renminbi.
FountainVest buys China logistics business
FountainVest Partners has agreed to acquire a majority stake in China-based CJ Rokin Logistics from Korea’s CJ Logistics for KRW733.8 billion ($661.3 million).
China's WuXi Diagnostics raises $150m
WuXi Diagnostics, a joint venture China diagnostics business set up by Hong Kong-listed pharmaceutical outsourcing giant WuXi AppTec and US-based Mayo Clinic has completed a $150 million Series B funding round.
China's Fresh Capital hits $93m first close on Fund II
Fresh Capital, a Shanghai-based venture capital firm, has reached a first close of RMB600 million ($93 million) on its second renminbi-denominated fund.
Fund focus: LPs endorse Ocean Link's China tourism, tech thesis
Ocean Link has raised $580 million for a second fund targeting China travel, tourism and consumer technology assets, but the firm believes co-investment could take aggregate deployment to $1.4 billion
China's Clover Biopharmaceuticals gets $230m Series C
Chengdu-based Clover Biopharmaceuticals has raised $230 million in Series C funding led by GL Ventures and Temasek Holdings. Oceanpine Capital, OrbiMed, and Delos Capital all re-upped.
Primavera-led consortium takes control of Zhaopin
A consortium led by Primavera Capital has agreed to acquire a controlling position in Chinese recruitment website Zhaopin at an implied valuation of A$2.2 billion ($1.7 billion).
China's AnchorDx completes $40m Series C
AnchorDx, a China-based medical technology developer focused on DNA sequencing and diagnostics, has raised a $40 million Series C round led by OrbiMed and WuXi Huiying Investment.
MBK exits China's Apex International
MBK Partners has agreed to sell Apex International, China’s second-largest air freight forwarder, to Swiss logistics giant Kuehne + Nagel.
CPE leads $300m round for China's ANE Logistics
ANE Logistics, one of China’s top three less-than-truckload (LTL) logistics players, has raised $300 million in funding led by CPE. Greater Bay Area Fund, Hong Kong-listed NWS Holdings, Liumai Capital, and Huagai Capital also took part.