China
Chinese smart city platform developer raises $283m
China Everbright has led the first phase of Series C round – worth RMB2 billion ($283 million) – for Terminus Technologies, a Chinese supplier of city-level internet of things (IoT) platforms.
Women on corporate boards: Finding a voice
Investor pressure and industry lobbying has contributed to a rise in female representation on corporate boards. While quotas work for some, they aren’t necessarily the silver bullet
KKR to acquire China business of Hong Kong-listed NVC
KKR has announced a strategic partnership with Hong Kong-listed lighting solutions company NVC Lighting in which the GP will acquire a controlling stake in NVC’s mainland China business.
China's Biocytogen gets $78m Series D
Chinese contract research organization (CRO) Biocytogen has raised a RMB543 million ($78 million) Series D round led by China Life Insurance and SDIC Venture Capital, a VC arm of the State Development & Investment Corporation (SDIC).
Women entrepreneurs: Tales from the coalface
Women remain underrepresented in start-up ecosystems across Asia, but for those who have taken the plunge, there is potential to make a social impact that transcends their respective target markets
Former CIC PE head joins China Renaissance
Ou Wang, the former head of private equity for China Investment Corporation (CIC), has joined China Renaissance Holdings as a strategy consultant. He has also joined the board of Huajing Securities, the firm’s mainland China-focused investment banking...
CITIC Capital closes fourth China buyout fund at $2.8b
CITIC Capital has closed its fourth China buyout fund at the hard cap of $2.8 billion. It is the private equity firm’s largest fund raised to date.
Macro and diversity: All hands on deck
As women participate in economies across Asia in larger numbers, investors must consider how this impacts their target markets. Gender-balanced portfolios will no longer be a nice-to-have
Venturous, Lioncrest launch $200m China smart city fund
Beijing-based investment firm Venturous has merged Lioncrest Global, which specializes in bringing deals to high net worth individuals and family offices, to raise a $200 million fund that will focus on smart cities in China.
Cross-border e-commerce player Wish gets Series H
Wish, a US-based cross-border e-commerce app backed by several Asian investors, has achieved a valuation of $11.2 billion following a Series H round led by General Atlantic.
China's Joy Capital raises $718m for VC, growth funds
Joy Capital has collected $718 million for its latest set of US dollar-denominated funds, closing its third venture vehicle at $391 million and securing $327 million for a debut growth fund.
XIO Group agrees JD Power sale to Thoma Bravo
XIO Group, a cross-border PE firm established by several Asia-based investment professionals, has agreed to sell market research business J.D. Power to technology-focused GP Thoma Bravo.
China equipment rental player gets $167m in equity, debt funding
Zhongneng United, a Chinese construction equipment supplier specializing in aerial work platforms, has raised RMB150 million ($22 million) in equity funding as an extension to its Series B round and secured an additional RMB1 billion in bank financing.
TPG, Fosun sell China hospital business to Antony Leung's SPAC
TPG Capital and Fosun Pharma have agreed a $1.3 billion deal that will see Chinese hospital operator United Family Healthcare (UFH) absorbed by a special purpose acquisition company (SPAC) established by Antony Leung, formerly Greater China chairman at...
Ascendent reaches $700m first close on third China fund
Ascendent Capital Partners has reached a first close of approximately $700 million on its third China fund, which will follow the existing strategy of building a relatively concentrated portfolio of minority and control investments.
China Renaissance collects $943m for renminbi fund
China Renaissance has closed the third renminbi-denominated fund raised under its flagship Huaxing Growth Capital arm with more than RMB6.5 billion ($943 million) in commitments.
China consumer: The low road
Pinduoduo's success in bringing e-commerce to China's lower-tier cities has inspired a host of other start-ups to do the same, but they must be mindful of broader consumer trends
SAIF exits as PepsiCo invests $130m in Chinese food distributor
Pepsico has agreed to invest HK$1.02 billion ($130 million) in Natural Food International, a Hong Kong-listed health food distributor, providing a full exit for SAIF Partners.
China’s SAIC Capital closes $145m auto industry fund
SAIC Capital, an investment manager controlled by Chinese automaker SAIC Motor, has raised a RMB1 billion ($145 million) fund that will target deals throughout the automotive industry supply chain.
Toyota invests $600m in China’s Didi
Japan’s Toyota Motor Corporation has agreed to invest $600 million in Chinese ride-hailing giant Didi Chuxing and to expand their joint venture focused on services for Didi’s drivers.
Bain forms Asia data center platform
Bain Capital has become the latest private markets investor to back a pan-Asian data center platform with the merger of existing portfolio companies covering China, Southeast Asia, and India.
China's XVC raises $330m for Fund II
XVC, a Chinese early-stage investment firm established by Boyu Hu, formerly of DCM Ventures and Blue Lake Capital, has closed its second US dollar-denominated fund with around $330 million in commitments.
Shenzhen Capital seeks $290m for China healthcare fund
Shenzhen Capital Group is looking to raise upwards of RMB2 billion ($290 million) for its first healthcare fund as the Chinese venture capital firm continues efforts to diversify its product offering.
China tech board makes volatile debut
The initial batch of companies chosen to list on China’s technology innovation board – known as the Star Market – posted an average gain of 140% on their first day of trading on July 22, although almost all were pared back in the opening hours of...