Hillhouse Capital Management
Chinese AI player Yitu raises $200m
Yitu Technology, a Chinese artificial intelligence (AI) start-up that is developing solutions for machine vision, listening and understanding, has raised $200 million in Series C-plus funding.
Drug developer Just China raises $35m
Hangzhou Just Biotherapeutics (Just China), the Chinese joint venture of US drug developer Just Biotherapeutics, has received $35 million in Series B-plus funding led by Hillhouse Capital.
China used car trading business Uxin files for US IPO
Uxin Group, a Chinese e-commerce platform that specializes in used-car trading and related services, has filed for a US IPO. Jeneration Capital, Warburg Pincus, and Tiger Global Management are among the company’s PE backers.
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.
Permira, Hillhouse agree $1.7b Magento exit
Permira and Hillhouse Capital will sell their stakes in Magento Commerce, a US company that provides transaction-processing software to e-commerce players, to Adobe as part of a $1.7 billion transaction.
GIC leads $260m round for China’s CStone Pharma
Singapore’s GIC Private has led a $260 million Series B investment in China’s CStone Pharmaceuticals. The round, completed within two months, is said to be the largest biopharma Series B in the country to date.
China's WeDoctor gets $500m pre-IPO round
WeDoctor, a Chinese online healthcare platform backed by Tencent Holdings, has received a $500 million round of funding – at a valuation of $5.5 billion – from Hong Kong-listed insurance company AIA Group and infrastructure and services conglomerate...
KPCB leads $20m round for China cross-border retail player
KPCB has led a $20 million Series B funding round for BorderX Lab, a US-based e-commerce services company that helps global retailers connect with Chinese consumers.
China online-to-offline: Retail reorientation
As technology brings the buyer closer to the seller, some investors are put off by the uncertainty while others see opportunities in finding ways to digitize – or further disrupt – traditional retailers
Capital Group leads Series E for China’s Innovent Biologics
Capital Group Private Markets (CGPM), a private equity affiliate of US-based Capital Group Companies, has led a $150 million Series E round for Chinese biopharmaceutical developer Innovent Biologics.
China’s Meituan-Dianping acquires PE-backed Mobike
Meituan-Dianping, China’s largest online-to-offline (O2O) local services platform, has agreed to buy full control of bike-sharing company Mobike. Both companies are backed by Tencent Holdings and have received substantial private equity funding.
Chinese GPs back AstraZeneca spin-out
A consortium led by Boyu Capital, 6 Dimensions Capital and Hillhouse Capital will invest up to $250 million in Viela Bio, a pharmaceutical research and development company being spun out from AstraZeneca.
Hillhouse, Sequoia join $2.5b round for JD.com's logistics unit
Chinese online retailer JD.com has raised approximately $2.5 billion for its logistics subsidiary from investors including Hillhouse Capital and Sequoia Capital China.
China AI chip maker Think Force raises $68m
Shanghai Think Force Electronic Technology, a China-based artificial intelligence (AI) chip maker, has raised a RMB450 million ($68 million) Series A round of funding from Yunfeng Capital, Sequoia Capital China, and Hillhouse Capital.
GLP shareholders approve $11.5b PE-backed privatization
Shareholders have voted in favor of a S$15.9 billion ($11.5 billion) acquisition of Singapore-listed warehouse operator Global Logistic Properties (GLP) by a consortium that includes Hopu Investment and Hillhouse Capital.
Hillhouse leads $46m round for China O2O fitness platform
Lefit, a China-based online-to-offline (O2O) fitness platform, has raised a RMB300 million ($46 million) Series C round of funding led by Hillhouse Capital.
Goldman, Hillhouse invest $90m in China’s Arrail Dental
Goldman Sachs and Hillhouse Capital have jointly invested $90 million in a Series D round of funding for Arrail Dental, a Chinese dental services provider.
Expedia invests $350m in Indonesia's VC-backed Traveloka
Expedia has paid $350 million for an unspecified minority stake in Traveloka, an Indonesian online travel services company backed by a number of venture capital firms.
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
Asian club deals: Big ambitions
A resurgence in club deal activity has proven symptomatic of the evolution of Asia's private equity buyout market. But while the structure and the nature of deals has changed, the underlying rationale remains fixed
Shareholders approve $6.8b PE buyout of Belle International
Belle International, China’s largest women’s shoe retailer, is set to de-list from the Hong Kong Stock Exchange after shareholders approved a HK$53.1 billion ($6.8 billion) take-private offer from Hillhouse Capital and CDH Investments.
Singapore's GLP accepts $11.5b Hopu, Hillhouse-backed buyout offer
Singapore-listed warehouse operator Global Logistic Properties (GLP) has accepted a buyout offer from a consortium including Hopu Investment and Hillhouse Capital that values the company at S$15.9 billion ($11.5 billion).
PE-backed WuXi Biologics completes Hong Kong re-listing
WuXi Biologics, a Chinese contract R&D services provider to the global pharmaceutical industry that was taken private by a PE-backed consortium in late 2015, gained 38% on its Hong Kong trading debut following a HK$3.97 billion ($510 million) IPO.
Everbright-IDG joins Series C for Chinese electric car maker
Everbright-IDG Industrial Fund has invested an undisclosed sum in China-based smart electric car maker Nio - formerly known as NextEV - as part of a Series C round that is still in the process of being raised.