China
Portfolio: CBC Group and I-Mab Biopharma
CBC Group’s stewardship of I-Mab Biopharma brings an intensely hands-on platform-based approach to a booming China biotech space often characterized by relatively passive strategies
China's Newlink raises $128m Series D
Newlink Group, operator of a platform that helps drivers in China locate the best value gas stations, has raised a RMB900 million ($128 million) Series D round led by CICC Capital. Xiaomi Corporation also participated.
China's Harbour BioMed raises $103m Series C
Chinese biotech start-up Harbour BioMed has raised $102.8 million in Series C funding. It comes four months after it closed an extended Series B round of $75 million.
China gay dating app Blued raises $85m in US IPO
BlueCity Holdings, the VC-backed holding company for Chinese gay dating platform Blued, traded strongly after raising $84.8 million through a NASDSAQ IPO.
Chinese online art tutoring platform secures $40m
Meishubao, China’s leading online art education platform, has raised $40 million in an extended Series C round led by Tencent Holdings.
Sequoia leads $100m Series C for China's Kuaidian
Kuaidian, a Chinese interactive content provider, has raised close to $100 million in Series C funding led by Sequoia Capital China. Existing investors GGV Capital and Morningside Venture Capital re-upped.
Warburg Pincus set for part-exit from Jinxin Fertility
Warburg Pincus will sell an approximately 5.5% interest in Hong Kong-listed IVF services provider Jinxin Fertility for about HK$1.5 billion ($194 million) through a share placement.
DCM raises $880m for early-stage funds
DCM Ventures has raised $880 million across two funds that will continue its early-stage technology strategy, with 70% of the capital earmarked for deployment in China.
China IPOs: Star attraction
Having previously focused on offshore IPOs, China managers with US dollar funds are now considering the Star Market. But going onshore means more regulation as well as high valuations
Corporate VC in Asia: Moment of truth
Cutting non-core operations is the standard corporate response to an economic downturn. Companies in Asia must decide whether the long-term benefits of exposure to new technologies outweighs short-term pain
Baidu Capital leads Series D for China logistics platform
FineEx, a Shanghai-based logistics provider specializing in e-commerce, has raised RMB500 million ($71 million) in a Series D round of funding led by Baidu Capital.
China's Ucommune acquired by US-listed SPAC for $765m
Ucommune, a Chinese co-working space operator that failed to get traction with an attempted New York IPO last year, has been acquired by a US-listed special purpose acquisition company (SPAC) at a valuation of $764.9 million.
Chinese online-plus-offline retailer KK Group raises $42m
Chinese retailer KK Group - formerly known as KK Guan - has raised RMB1 billion ($41.6 million) in funding led by CMC Capital. BA Capital and Ince Capital Partners also participated.
China's Unity Ventures hits first close on US dollar fund
Chinese venture capital firm Unity Ventures - also known as Jiuhe - has reached a first close of $50 million on its debut US dollar-denominated fund. The vehicle has an overall target of $100 million.
Investigation confirms fraud at China's Luckin Coffee
Private equity-backed Chinese coffee shop chain Luckin Coffee has confirmed earlier suspicions of large-scale financial fraud in its operations, while a proposal to remove the company’s chairman failed to receive enough shareholder support.
China data storage provider XSKY raises $45m
China-based data storage software services provider XSKY has raised a RMB320 million ($45 million) Series D led by China's State Owned Venture Capital Fund.
China's CF PharmTech raises $50m Series F
CF PharmTech, a Chinese medical devices maker focused on innovative respiratory products, has raised a $50 million Series F round with support from CICC Capital.
China's Gan & Lee Pharmaceuticals gains after A-share debut
Chinese insulin manufacturer Gan & Lee Pharmaceuticals, which counts Qiming Venture Partners and Goldman Sachs among its investors, raised RMB2.5 billion ($354 million) through an A-share IPO.
Rise Fund buys solar plants from Chinese developer
The Rise Fund, TPG’s impact investment business, has purchased solar projects with a combined capacity of 970 megawatts from China-based Trina Solar for approximately $700 million.
Medical devices: Proceed with caution
Medical devices has become a difficult place to invest but potentially all the more rewarding for those willing to take the plunge. Asia is in a prime position globally
PE-backed Hygeia completes $286m Hong Kong IPO
Chinese radiotherapy business Hygeia Healthcare, which counts Warburg Pincus, Boyu Capital, and CITIC Capital among its investors, raised HK$2.22 billion ($286.4 million) in its Hong Kong IPO.
China smart parking manager raises $42m Series C
Beijing-based smart parking management solution provider AIpark has raised a RMB300 million ($42 million) Series C round led by Gaorong Capital.
China healthcare IPOs: Good prognosis?
There has been a steady stream of China healthcare IPOs - most of them drug developers - on the domestic, Hong Kong and US bourses in recent months. They might be benefiting from a COVID-19 tailwind but it won't be permanent
Lever launches China alternative protein fund
Hong Kong and US-based food technology investor Lever VC has launched a RMB200 million ($28 million) fund dedicated to Chinese plant-based meat start-ups.