Frees Fund
SDIC leads $97m Series A for China's Pyrotech Therapeutics
China-based Pyrotech Therapeutics, which develops treatments for inflammation and tumours, has raised a Series A of CNY 700m (USD 97m) led by state-owned investor SDIC Venture Capital.
Vision Knight leads Series B for China education app
Shaonian Dedao, a Chinese education app for teenagers led by former CCTV host Quanlin Zhang, has raised RMB200 million ($29 million) in a Series B funding round led by Vision Knight Capital.
Sequoia leads Series B for Chinese coffee brand
Saturnbird, a Chinese coffee brand, has raised more than RMB100 million（$14 million) in a Series B funding round led by Sequoia Capital China. Existing backer Frees Fund re-upped.
Matrix, CICC back Chinese optical chip pioneer
Lightelligence, a US and China-based manufacturer of optical chips, has raised a $26 million Series A round led by Matrix Partners China and China International Capital Corporation (CICC).
China’s Club Factory raises $100m Series D
Club Factory, a China-based e-commerce platform focused on India has raised a $100 million Series D round led by Qiming Venture Partners. Existing investors Bertelsmann Asia Investment and Frees Fund re-upped.
KTB leads round for Chinese EV trading platform
China-based Shenma Chuxing, which provides trading services for electric vehicle (EV) and hybrid dealers, has raised $20 million in Series A funding from South Korea’s KTB Ventures and China’s Frees Fund.
China's Bitmain pulls plug on Hong Kong IPO
Bitmain, a private equity-backed Chinese business that manufactures chips for Bitcoin mining, has allowed its application for a Hong Kong IPO to lapse.
Deal focus: XtalPi takes big pharma into the cloud
China and US-based XtalPi has raised $61 million this year from investors impressed its use of quantum physics, computational chemistry, and artificial intelligence to bring greater certainty to drug development
China Life backs AI drug development platform XtalPi
A healthcare fund managed by China Life Insurance has led a $46 million extended Series B investment in XtalPi, a US-based artificial intelligence-enabled healthcare services platform established by Chinese scientists.
Chinese rural-focused financing platform gets $47m
Shenma Finance, an online platform that provides vehicle financing to China’s rural population, has received RMB300 million ($47.2 million) in Series C funding led by domestic financial technology player Tongbanjie Group, China Growth Capital, and Hina...
China’s Club Factory raises $100m Series C
Club Factory, a China-based e-commerce platform that sells fashion products overseas, has raised $100 million in a Series C round of funding from existing investors IDG Capital Bertelsmann Asia Investment (BAI).
China project funds: Cut to fit
Project funds have become popular in China on the back of increased demand for PE exposure from corporates and high net worth individuals. It remains to be seen if they have true staying power