China
Deal focus: China's Xpeng moves into top gear
Investor appetite for Xpeng grew over the course of 2020 as China's electric vehicle industry showed signs of recovery after a difficult 2019. A $500 million Series C extension was soon followed by an IPO filing
China insurance tech platform Waterdrop receives $230m
Shuidi, a China-based insurance technology platform also known as Waterdrop, has raised $230 million in Series D funding jointly led by Tencent Holdings and Swiss Re Group. Existing investors IDG Capital and Wisdom Choice Global Fund re-upped.
US-China tensions worry tech investors - M&A Forum
Asia technology investors warned that an escalation in US-China tensions that impedes the development of start-ups will ultimately cost end-consumers as well as public market investors.
China drug developer Dizal raises $100m
Chinese drug developer Dizal Pharmaceuticals has raised a $100 million round led by Lilly Asia Ventures, with participation from Sequoia Capital, Trinity Innovation Fund, and Wuxi NewForce Fund.
India-China-US: Byte back
Historically a neutral power, India appears to be siding with the US in a multi-faceted war with China. This could have far-reaching consequences for VC investors and the technology ecosystem
Hillhouse founder emphasizes tech transformation opportunities
The most attractive investment opportunities in a post-COVID-19 world involve helping traditional businesses that have been “victims of the creative destruction of technology” play catch-up, according to Lei Zhang, founder and CEO of Hillhouse Capital....
GL Ventures leads $130m round for China's Biren
Biren Technology, a Chinese artificial intelligence (AI) chip design company, has raised a RMB900 million ($130 million) pre-Series B round led by GL Ventures, the VC unit of Hillhouse Capital.
Xiaomi-backed Soocas raises $25m pre-IPO round
Soocas, a Shenzhen-based electric toothbrush maker backed by smart phone maker Xiaomi has raised a RMB175 million ($25 million) pre-IPO round led by Grand Flight Investment Management.
Hillhouse invests $830m in China's JD Health
Hillhouse Capital has agreed to invest $830 million in JD Health, the healthcare unit of Chinese e-commerce giant JD.com, which will remain the majority shareholder.
China children's English education platform raises $120m
Chinese children's English education platform Palfish, also known as Banyu, has raised a $120 million Series C round led by Tao Zhang, founder of Dianping.com, and FutureX Capital.
Lever VC reaches $23m first close on food fund
Lever VC, a Hong Kong and US-based food tech specialist, has confirmed a $23 million first close for its debut fund, which will invest alternative protein start-ups globally with a strong focus on China.
Centurium buys Beijing children's hospital
Centurium Capital has acquired a controlling stake in Beijing Jingdu Children’s Hospital, which claims to be the largest privately-owned children’s hospital in China, for approximately $150 million.
China medical device player Hanyu Medical secures $72m
China-based medical devices manufacturer Hanyu Medical has raised a RMB500 million ($72 million) Series D co-led by HighLight Capital, CPE (formerly known as CITIC Private Equity), and Yingke Private Equity.
China's JD.com acquires VC-backed logistics player
Chinese e-commerce giant JD.com has agreed to pay RMB3 billion ($432 million) for a controlling stake in Kuayue Express, a local VC-backed logistics operator.
China's VC-backed CanSino raises $748m in Star Market IPO
Chinese vaccine developer CanSino Biologics, which counts Lily Asia Ventures (LAV) and Qiming Venture Partners among its investors, has raised RMB5.2 billion ($748 million) in an IPO on Shanghai’s Star Market.
China's Vision Medicals raises $28m
CDH Investment has led a RMB200 million ($28 million) Series B round for Guangzhou-based precision diagnosis and gene sequencing company Vision Medicals.
Yunfeng backs take-private of China-US biotech player
Yunfeng Capital, a private equity firm co-founded by Jack Ma, is backing the privatization of Cellular Biomedicine, a US and China-based biotech developer.
Tencent plots merger of China live-streaming platforms
Tencent Holdings has proposed a merger of Douyu and Huya – China’s two largest game-centric live-streaming platforms. Both NASDAQ-listed companies have a number of VC investors.
Start-up profiles: Sustainability agendas
Early-stage innovators across the region are leveraging both enterprise and consumer-facing models to address sustainability challenges with one eye on rapid commercialization
ByteDance acquires Chinese medical platform for $72m
ByteDance, the PE-backed owner of TikTok and the Toutiao news aggregation service, has acquired VC-backed Chinese medical information platform Baikemy for RMB500 million ($72 million).
Chinese CRO player Yaoyanshe raises $86m
Yaoyanshe, a Chinese contract research organization (CRO) for novel drugs, has raised RMB600 million ($86 million) across two rounds in the past eight months.
China clean energy: Policy power
China’s aggressive renewable energy development targets are creating opportunities for investors in various points along the supply chain, but inconsistent regulation remains a concern
Chinese EV manufacturer Xpeng pursues US IPO
Xpeng Motors, a Chinese electric vehicle (EV) manufacturer backed by Alibaba Group and several PE and VC firms, has filed for a US IPO.
Chinese chip design company Brite raises $50m
Chinese integrated circuit (IC) design company Brite Semiconductor, has raised a RMB350 million ($50 million) Series D round led by Haitong Securities and sector specialist Sunic Capital.