China
China GPs back US health-tech player in $22m Asia push
China’s 6 Dimensions Capital and Yonghua Capital have joined a $22 million Series C round for US-based Ultivue that will help the medical technology developer expand into Asia.
Warburg Pincus raises $4.25b for China, Southeast Asia fund
Warburg Pincus has closed its latest China companion fund – which officially includes Southeast Asia for this vintage – at the hard cap of $4.25 billion.
Commonfund hires HSBC executive to lead Beijing office
Commonfund Capital has appointed Xiaonan Tian as an associate director and head of its investment office in Beijing from where she will oversee the firm’s Asia Pacific portfolio.
Deal focus: Weimai seeks healthcare monetization
Weimai plans to leverage a fresh $100 million funding round to bring new technologies to Chinese hospitals. This will include a growing focus on services outside the public health system
China GPs: The Centurium strategy
After more than a decade with Warburg Pincus in China, David Li struck out on his own with Centurium Capital. Applying technology to traditional business models is central to his investment thesis
Chinese online art education business raises $40m
Chinese art education platform Yiqi Technology Group has raised $40 million in the first tranche of a Series C round led by Tencent Holdings. It is said to be the largest-ever funding round for a start-up in this space.
JD Logistics hits first close on China industry fund
JD Logistics, the delivery unit of Chinese e-commerce giant JD.com, has reached a first close on a renminbi-denominated fund that invests in smart logistics and related technologies. The full target for the vehicle is RMB1.5 billion ($218 million).
CITIC Capital invests $20m in New Zealand travel business
CITIC Capital has invested NZ$30 million ($20 million) in Tourism Holdings, a New Zealand-listed travel services company that specializes in recreational vehicle rentals.
China GPs join Singapore's Novena for $150m healthcare fund
China-based GPs Sinopharm Capital and Cedarlake Capital have announced a $20 million investment in Singapore-based healthcare platform Novena Global Lifecare, along with a strategic partnership for a $150 million fund that will support Southeast Asian...
Affirma leads pre-IPO round for China's Dianrong
Affirma Capital – formed through a spin-out of Standard Chartered’s private equity business – has led a pre-IPO round of undisclosed size for Chinese P2P lending services provider Dianrong.
IDG leads $100m round for China healthcare platform Weimai
IDG Capital has led a $100 million funding round for Weimai, a Chinese healthcare-focused big data platform that helps hospitals and clinics in lower-tier cities automate everything from appointment registration to medical records management.
Trade war to trigger manufacturing revolution - M&A Forum
China-US trade tensions will drive a second wave in the One Belt One Road Initiative (OBOR) as Chinese companies relocate lower-end manufacturing to new markets, according to Victor Fung, group chairman of Fung Group, a Hong Kong multinational with interests...
China's Haoqipei gets $60m Series D
Haoqipei, the operator of a B2B auto parts trading platform in China, has closed a $60 million Series D round led by Access Technology Ventures, with plans for a domestic expansion.
CDH wealth management unit to raise emerging markets fund
CDH Investments’ wealth management platform, which sources investment opportunities for the firm’s network of high net worth clients, is raising a $200 million emerging markets fund that will primarily target India.
Cathay reaches $358m first close for second VC fund
Cathay Innovation, the venture affiliate of middle-market focused Cathay Capital Private Equity, has reached a first close of EUR320 million ($358 million) on its second fund targeting start-ups in China, Europe, and North America.
Chinese industrial e-commerce platform gets $160m Series D
Zhenkunhang, a Chinese e-commerce platform that specializes in industrial products, has raised $160 million in a Series D round of funding led by Tencent Holdings.
Oriental Fortune agrees $173m China auto parts deal
Chinese mid-market private equity firm Oriental Fortune Capital has agreed to acquire a controlling interest in Changzhou NRB Corporation, a domestic auto components manufacturer, for RMB1.2 billion ($173 million).
Fund focus: Advent leverages global muscle in Asia
Advent International has up to $3 billion to deploy in Asia following its recent global fundraise. It has increased headcount to widen sector coverage
Ascendent backs $197m take-private for China Automation
Ascendent Capital Partners has joined Xuan Ruiguo, the chairman and founder of Hong Kong-listed industrial control systems maker China Automation Group, in a take-private offer that values the company at HK$1.5 billion ($197 million).
PE-backed Hansoh Pharma completes $1b Hong Kong IPO
Hansoh Pharmaceutical Group, a Chinese drug developer that counts Hillhouse Capital and Boyu Capital among its investors, has raised HK$7.86 billion ($1 billion) through a Hong Kong IPO.
HSBC launches $880m GBA tech fund
HSBC has launched an $880 million fund to provide debt financing for early-stage technology companies leveraging China’s Greater Bay Area (GBA) development initiative.
Boyu leads round for Chinese health insurance platform
Waterdrop, a Chinese online health insurance platform that runs mutual aid programs and provides brokerage services, has raised RMB1 billion ($145 million) in Series C funding led by Boyu Capital.
PE-backed Fang.com spins out China property analytics business
Private equity-backed online real estate portal Fang.com has spun-out its property analytics and benchmarking system in what its CEO Yu Huang described as the first direct public offering (DPO) by a Chinese company in the US.
AlixPartners hires managing director for Shanghai office
AlixPartners, an advisory firm specializing in turnaround deals, has expanded its Greater China practice with the appointment of Ford Motor Company's Stephen Dyer (pictured) as a managing director in Shanghai.