China
PE-backed Kintor Pharma raises $240m in Hong Kong IPO
Kintor Pharmaceutical, a Chinese drug developer backed by the likes of HighLight Capital and Shenzhen Green Pine Capital Partners, posted a 7% gain on debut following a HK$1.86 billion ($240 million) Hong Kong IPO.
China's Sensors Data secures $30m Series C-plus round
Chinese big data company Sensers Data has raised an extended Series C round of $30 million led by Xiang He Capital. Other investors include Morningside Venture Capital, DCM China, Warburg Pincus, Sequoia Capital China, Linear Venture, and FutureCap.
Profile: Qiming Venture Partners' Duane Kuang
Having spent years as an IT advocate in a world obsessed with consumer internet start-ups, Duane Kuang of China-focused Qiming Venture Partners is seeing the tables gradually turn
Chinese game platform Reworld raises $42m Series B
Joy Capital has led a RMB300 million ($42 million) Series B round for Reworld, a platform offering training and IT tools that allow users to design their own videogames.
Zentalis raises $20m for China drug development venture
Zentalis Pharmaceuticals, a US cancer treatment specialist that raised $165 million in an IPO last month, has secured $20 million in funding to establish a China-based joint venture.
Chinese smart car wash business closes $84m Series C
1km, China’s largest car wash company, has raised RMB600 million ($84 million) in Series C funding across three tranches. The most recent - worth $30 million - was led by ClearVue Partners.
China mezzanine: Not the norm
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
NASDAQ moves to de-list China's Luckin Coffee
Luckin Coffee, a private equity-backed Chinese coffee shop chain currently enmeshed in a fraud scandal, faces being delisted from NASDAQ.
Chinese home fitness app raises $80m Series E
Keep, a Chinese mobile app that provides fitness training programs, has raised $80 million in Series E funding led by Jeneration Capital.
MBK closes Fund V at $6.5b hard cap
MBK Partners has closed its fifth North Asia-focused fund at the hard cap of $6.5 billion. It is the joint third-largest PE vehicle raised for deployment across the region and MBK has become the seventh manager to cross the $6 billion threshold.
China's JD.com raises $230m for MRO unit
JD MRO, a subsidiary of Chinese e-commerce giant JD.com that specializes in industrial maintenance, repair and operations (MRO), has raised $230 million in Series A funding led by GGV Capital.
Hong Kong ups disclosure requirements for biotech IPOs
The Hong Kong Stock Exchange has tightened disclosure requirements for companies looking to take advantage of two-year-old reforms permitting listings by pre-revenue biotech companies.
Deal focus: Pop Mart dominates China's dolls
Best known in China for the Molly series of fashion dolls, Pop Mart emerged as a leader before many others recognized the market potential. The Loyal Valley Capital-backed company is now preparing for an IPO
Cathay closes second mid-market fund at $860m
Cathay Capital has closed its second middle-market fund, which invests in China, Europe and North America, with EUR800 million ($860 million) in commitments. The original target was EUR1.2 billion.
China robotics, AI player Data Ground raises $35m
Data Ground, a Chinese robotics and artificial intelligence (AI) technology developer, has raised RMB270 million ($35 million) in an extended Series B round led by Shenzhen Venture Capital.
ADV backs China postgraduate, vocational training specialist
ADV Partners has completed its investment in Universal Education Holdings, a China-based online provider of postgraduate test preparation and vocational training under the Wanxue brand.
Q&A: C2 Partners' Chris Tay
Chris Tay, an experienced food and beverage operator in China who now leads C2 Partners, discusses dining and social distancing, restaurant bankruptcies, and Luckin Coffee
Tencent, Sequoia invest $244m in property manager Shimao
Shimao Services, the property management arm of Hong Kong-listed Shimao Property, has raised $244 million from Tencent Holdings and Sequoia Capital China.
Tencent invests in PE-backed Tim Hortons China expansion
Tencent Holdings has invested in the China franchise of coffee-and-donut chain Tim Hortons, which operates as a joint venture between Restaurant Brands International (RBI) and Cartesian Capital Group.
Gaorong leads Series A for Chinese gene sequencing player
Qitan Technology, a Chinese gene sequencing company, has raised RMB100 million ($14 million) in Series A funding led by Gaorong Capital. Other backers include Yinxinggu Capital and Yahui Preision Medical Fund.
Intel Capital backs three Chinese start-ups
Intel Capital has invested in two Chinese semiconductor suppliers and a Chinese medical technology developer as part of a $132 million commitment spread across 11 start-ups.
China last-mile delivery platform files for US IPO
Dada Nexus, a Chinese last-mile delivery platform backed by the likes of JD.com, Walmart, Sequoia Capital China, and DST Global, has filed for a US IPO.
China's Oceanpine reaches $200m first close on Fund II
Oceanpine Capital has reached a first close of $200 million on its second fund, 30% of which was committed by the GP. The target is $400 million.
India-China regulation: Punching bag
Chinese venture capital investors have become an increasingly significant presence in India’s venture capital ecosystem, but a recent regulatory reform calls their participation into question