GL Capital
The innovation game: China GPs play safe
China investors have abandoned their previous high-risk-high-return approach in favour of proven business models and profitability. Hotspots like autonomous driving, biotech, and SaaS are no exception
GL Capital leads $290m investment in China’s Sangon Biotech
Chinese healthcare-focused private equity firm GL Capital has led a CNY2bn (USD 290m) investment in local life sciences company Sangon Biotech.
Deal focus: GL Capital plots careful China carve-out
GL Capital worked quietly but industriously to secure a leveraged buyout of China-based contract manufacturer Foryou Medical Devices – even using renminbi financing to avoid US dollar interest rate exposure
2022 preview: Healthcare
Healthcare’s high-cost, rapidly digitizing profile will persist regardless of how COVID-19 plays out in the coming years. China appears set for consolidation, including in biotech
GL Capital leads $125m round for Hzymes Biotechnology
Wuhan-based Hzymes Biotechnology, a specialized enzymes developer, has raised RMB800 million ($125 million) in Series C funding led by healthcare specialist GL Capital
China flying vehicle developer HT Aero raises $500m
HT Aero, an urban air mobility (UAM) company affiliated with Chinese electric vehicle manufacturer Xpeng, has raised a $500 million Series A round led by Xpeng, IDG Capital, and 5Y Capital.
China biotech: Going global
A gradual shift in focus from sourcing assets from overseas for application in China to bringing China-made treatments to the world is challenging the notion of what constitutes a local biotech start-up
PE-backed China dental player files for Hong Kong IPO
Arrail Group, a leading Chinese dental chain that has raised about $400 million in private funding since 2010, has filed for a Hong Kong IPO.
Portfolio: GL Capital & SciClone Pharmaceuticals
GL Capital has helped China’s SciClone Pharmaceuticals position itself for the future while continuing to monetize its key legacy drug. A Hong Kong listing was the reward
PE-backed SciClone achieves $1.6b market cap on HK re-listing
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
GL Ventures, Gaorong invest $80m in China's Kaikeba
Chinese vocational education platform Kaikeba has spun out from Huike Group and raised RMB550 million ($80 million) in Series A funding led by Gaorong Capital and GL Ventures, the VC unit of Hillhouse Capital.
GL Ventures leads $130m round for China’s Biren
Biren Technology, a Chinese artificial intelligence (AI) chip design company, has raised a RMB900 million ($130 million) pre-Series B round led by GL Ventures, the VC unit of Hillhouse Capital.
CICC, GL Ventures join $66m round for Suzhou Ribo Life Science
Chinese drug developer Suzhou Ribo Life Science has raised RMB470 million ($66 million) in an extended Series C round led by China State-owned Capital Venture Capital Fund, CICC Capital and GL Ventures, the VC arm of Hillhouse Capital.
First responders: China VCs on a healthcare crisis
The coronavirus outbreak has thrust Chinese healthcare services into the spotlight, prompting investors to identify to sub-segments with potential for significant growth
China’s GL commits $12.5m to UK-listed healthtech platform
GL Capital, a healthcare-focused GP based in China, has invested GBP9.75 million ($12.5 million) in UK-listed health technology platform Oxford BioDynamics (OBD) as part of a larger partnership aimed at expansion in China.
China Biologic Products receives competing take-private offer
US-listed China Biologic Products has received a buyout offer worth $3.9 billion from a consortium including former CEO David Gao and CDH Investments. It follows a $3.6 billion bid last month by CITIC Capital.
Capital Group, GL buy stake in Chinese hospital operator
Capital Group Private Markets (CGPM) has joined GP Capital to invest in Jinxin Healthcare, the maternity care division of Chinese hospital operator Chengdu Jinxin Healthcare Investment Management Group (Jinxin Group).
GPs back $605m take-private of China's SciClone pharmaceuticals
CDH Investments and Ascendent Capital Partners have teamed up with GL Capital and a Bank of China investment unit in a $605 million bid for US-listed Chinese drug developer SciClone Pharmaceuticals.
PE investors to participate in $645m China TCM placement
GIC Private, China Renaissance Capital Investment (CRCI) and GL Capital Group are among 26 investors subscribing to a HK$5 billion ($645 million) share placement by China Traditional Chinese Medicine (China TCM), intended to generate capital for acquisitions.
New Horizon leads $70m Series C for Arrail Dental
New Horizon Capital has led a $70 million Series C round of funding for Arrail Dental Clinic, a Beijing-based dental service provider.
Telstra appoints China private equity executive to its board
Telstra, the Australian telecom operator part-owned by Future Fund, has appointed GL Capital Group’s Tim Chen to its board as a non-executive director. The Beijing-based partner at the international private equity firm is expected to support Telstra’s...