China
Panacea leads $40m Series C for China's XWPharma
Healthcare-focused Panacea Venture has led a $40 million Series C round for China’s XWPharma, a neurobiology-focused biotech developer previously known as XW Laboratories.
Tencent backs Chinese healthcare cloud services platform
Kyee Technology, a Chinese digital medical platform has raised RMB430 million ($64 million) in a Series D round led by Tencent Holdings. Other investors include Longmen Capital, Dyee Capital and Royal Sea Capital.
Chinese mouse-based drug testing specialist raises $143m
Biocytogen, a Chinese contract research organization (CRO) that provides genetically-modified mice for drug testing, has raised RMB970 million ($143 million) in an extended tranche of Series D funding.
Long Hill invests $30m in Chinese O2O pharmacy player
Chinese digital healthcare platform inCarey has raised $30 million in an extended tranche of Series B funding from Long Hill Capital.
DCP pursues $5.6b take-private of China's 51job
DCP Capital Partners has submitted a take-private offer for Chinese online recruitment services platform 51job that values the company at approximately $5.6 billion.
China rebound favors the few - AVCJ Forum
China’s economy has rebounded from COVID-19 faster than most others, but the pandemic has exposed a widening wealth gap in the country, industry participants told the AVCJ China Forum.
Chinese educational platform Lele Ketang raises $40m
Lele Ketang, a Chinese K12 education platform, has raised a $40 million Series C round led by Owl Ventures, the largest education-focused VC in the US.
US LPs in China: Willing buyers?
There is no clear evidence of US LPs passing on China funds as a result of tensions between the two countries, but their current or future reluctance could be shrouded in various obfuscations
GPs join $516m investment in Evergrande's EV unit
Evergrande New Energy Vehicle (NEV), a subsidiary of Chinese real estate developer Evergrande Group, has raised HK$4 billion ($516 million) from investors including Tencent Holdings, Sequoia Capital China, Yunfeng Capital, and Didi Chuxing.
Investcorp increases focus on China healthcare
Investcorp has acquired minority stakes in two Chinese healthcare companies – hospital operator Lu Daopei Medical Group and telemedicine platform WeDoctor – paying undisclosed sums.
GL Ventures leads $58m Series B in China’s GemPharmatech
GemPharmatech, a Chinese company that provides genetically-modified mice for use in drug tests, has raised RMB400 million ($58.6 million) Series B led by GL Ventures, the VC arm of Hillhouse Capital.
China fresh produce retail: Changing channels
From online grocers to group buying platforms, capital is pouring into China’s fresh produce space as e-commerce finally makes it mark. Which business model will prevail?
DCP invests $283m in Chinese diabetes treatment player
DCP Capital Partners has acquired a 9% stake in Tonghua Dongbao Pharmaceutical, a Chinese pharmaceutical company specializing in diabetes treatment, for RMB1.94 billion ($283.7 million).
Q&A: Starquest Capital's Frankie Fang
Frankie Fang, founding managing partner of China-focused fund-of-funds Starquest Capital, discusses early-stage valuations, specialization among domestic managers, and renminbi fundraising
Bain's Asia data center platform seeks US listing
Chindata Group Holdings, which claims to be the largest player in emerging markets Asia’s carrier-neutral hyperscale data center industry in terms of capacity in service, has filed for an IPO.
China autonomous driving: Dimension jump
There are no arguments about the transformational potential of autonomous driving in China, but investors have different ideas about where to find value
China's LandSpace raises $175m Series C
Chinese commercial rocket developer LandSpace has raised RMB1.2 billion ($175 million) in a Series C extension co-led by Sequoia Capital China, the VC arm of property developer Country Garden, Matrix Partners China and Co-Stone Capital.
China healthcare big data player LinkDoc raises $102m
LinkDoc Technology, a Chinese healthcare big data company, has raised RMB700 million ($102 million) in an extended Series D round from CICC Capital, Youshan Capital, and iFOF, a fund-of-funds launched by CBC Capital and the Tianjin government.
China apps going global: Empires on hold
China’s data-driven consumer apps are having a harder time keeping politics out of business as they become increasingly competitive in global markets. Lessons are plentiful; solutions are not
China due diligence: Nightmare scenarios
Luckin Coffee’s precipitous rise and fall is a reminder of longstanding issues around corporate fraud in China. Failing to spot problems before they emerge remains a key concern for PE investors
Vertex China closes first renminbi fund at $438m
Vertex China, a VC firm affiliated to Temasek Holdings-owned Vertex Holdings, has closed its first renminbi-denominated fund at RMB3 billion ($438 million).
GPs sell Wall Street English China business back to founder
Baring Private Equity Asia and CITIC Capital have sold the China-based assets of English language training provider Wall Street English (WSE) back to the original founder after COVID-19 called into question the business model.
China biotech player InxMed raises $19m
Ennovation Ventures, a Chinese life sciences and healthcare-focused investor, and China Growth Capital have led a RMB130 million ($19 million) round for local biotech developer InxMed.
China mixed reality player Nreal secures $40m Series B
Nreal, a Chinese manufacturers of advanced virtual reality glasses that resemble normal sunglasses, has raised $40 million in Series B funding led by local video sharing platform Kuaishou.