Growth capital
China's Genesis targets $600m for second fund
Genesis Capital, a Chinese venture capital firm established by Richard Peng, formerly head of M&A at Tencent Holdings, is targeting $600 million for its second fund.
China's SenseTime closes $620m Series C-plus round
Chinese artificial intelligence (AI) technology developer SenseTime has raised $620 million in Series C-plus funding, its second capital injection in as many months. The investment values the business at over $4.5 billion.
Chinese VCs join $300m round for US, Hong Kong-based Grail
Ally Bridge Group, Hillhouse Capital and 6 Dimensions Capital have co-led a $300 million Series C round for Grail, a biotechnology development firm based in Hong Kong and the US.
CDH, DCP to invest $70m in China's Sunpower
DCP Capital Partners, a private equity firm established by the former China heads of KKR, has agreed to jointly invest $70 million alongside CDH Investments in Chinese energy industry supplier Sunpower.
Tencent leads $50m round for India's NewsDog
China's Tencent Holdings has led a $50 million Series C round for NewsDog, an Indian vernacular language news app founded by Chinese entrepreneurs.
Digital Garage, Toyota lead $30m round for India's Droom
Digital Garage and Toyota Tsusho, a division of Japanese automotive giant Toyota Group, have co-led a $30 million Series D round for Indian used-car trading marketplace Droom.
GIC backs $117m Asia co-working platform
Singapore’s GIC Private has joined co-working space provider JustCo and local developer Frasers Property to establish a $117 million platform that will focus on co-working space investments across Asia Pacific.
Chinese autonomous driving start-up gets $128m Series A
Roadstar.ai, a Chinese start-up that specializes in autonomous driving technology, has received $128 million in Series A funding led by Shenzhen Capital Group and Wu Capital.
India's True North to buy stake in Federal Bank NBFC
True North has agreed to buy a 26% stake in Fedbank Financial Services (Fedfina), a non-banking financial company (NBFC) controlled by India’s Federal Bank.
Warburg Pincus, GIC set up China rental apartment platform
Warburg Pincus and Singapore’s GIC Private will establish a RMB4.3 billion ($675 million) platform for investing in rental apartments in China’s tier-one cities.
Chinese restaurant services app receives $63m
Mwee.cn, a Chinese restaurant booking app, has raised RMB400 million ($63 million) in the first tranche of a Series D funding round led by Koubei, Alibaba Group’s local services platform, and travel services business Ctrip.
Pencarrow invests New Zealand yogurt maker
New Zealand-based Pencarrow Private Equity has paid an undisclosed sum for a 39% stake in domestic yogurt maker The Collective.
Chinese long-term property rental players get PE funding
Two more Chinese online long-term property rental platforms – Uoko.com and Baletu.com – have received private equity funding as young people opt to rent rather than buy in a climate of high property prices.
South Asia: Indian satellites
India’s economic dominance of South Asia has not translated into a firm leadership role for the region. Private equity strategies therefore vary widely across the country’s immediate geographic orbit
Indian brewer B9 Beverages gets $50m
B9 Beverages, an Indian brewer that markets craft beer under the brand Bira 91, has received $50 million in Series B funding led by Belgium’s Sofina.
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...
Chinese robot developer gets $820m Series C round
Tencent Holdings has led an $820 million Series C round of funding for Ubtech, valuing the Chinese manufacturer of consumer humanoid robots at approximately $5 billion.
Deal focus: CITIC backs China geothermal energy player
Investing in Icelandic geothermal energy required a certain level of creative thinking from CITIC Capital and China Everbright. But their partner, Artic Green Energy, is already making a difference in China's polluted cities
China car-trading platform Renrenche gets $300m
Goldman Sachs, Tencent Holdings and ride-hailing business Didi Chuxing have led a $300 million funding round for Renrenche, a Chinese consumer-to-consumer (C2C) used-car trading platform.
Sequoia leads $48m round for China online baby products retailer
Sequoia Capital China has led a RMB300 million ($48 million) Series C round of funding for PatPat, a China-based e-commerce platform operator that exports maternal and infant products overseas.
Alibaba invests $717m in China PE-backed rural e-commerce site
Alibaba Group has agreed to invest RMB4.5 billion ($717 million) in Huitongda Network, a private equity-backed online retailer that focuses on China’s rural areas.
Chinese fintech start-up raises $159m Series C
China Reform Holdings Corporation (CRHC), a Chinese state-owned asset manager, has led a RMB1 billion ($159 million) Series C round for 100Credit, a financial technology start-up that uses big data to provide credit services.
MSPEA, Crescent Point lead Series C round for China’s Qingke
Morgan Stanley Private Equity (MSPEA) and Crescent Point have jointly led a Series C round of funding for Qingke, a long-term rental apartment services platform in China.
Chinese big data firm MiningLamp gets $159m Series C
MiningLamp Software, a big data solutions provider in China, has raised a RMB1 billion ($159 million) Series C round of funding led by China Renaissance’s Huaxing Growth Capital and Tencent Holdings.