Chongxing, a Chinese petcare brand, has raised RMB200 million ($31 million) in a third tranche of Series B funding from Tencent Holdings, Hony Capital, HighLight Capital, Vertex Ventures China, and Meridian Capital.
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
Shanghai-based EpimAb Biotherapeutics has raised $120 million in Series C funding led by CMB International and Korea’s Mirae Asset Financial Group.
Fenbi, a China-based vocational education platform, has raised $390 million in a Series A round led by IDG Capital and Trustbridge Partners. Hony Capital also took part.
Playtika, an Israel-headquartered social and mobile games company that was acquired by a PE-backed Chinese consortium in 2016, gained 17% on its US trading debut following a $1.88 billion IPO.
Chinese private equity firm Hony Capital has closed its first venture capital fund at $130 million after approximately four months in the market.
China’s local currency mezzanine capital space is underpenetrated, underpopulated and different to comparable strategies elsewhere. A handful of domestic GPs have begun to get traction. Will others follow?
China-based I-Mab Biopharma traded as much as 12% lower than initial pricing following the private equity-backed company’s $104 million IPO in the US.
Hony Capital has injected HK$780 million ($100 million) into Best Food Holdings, the Hong Kong-listed platform it established in 2016 to make investments in China’s food and beverage industry.
Many private equity investors think they can make a fast buck from fast dining, but rolling out a Western-style brand in Asia requires discipline on valuation and competence in execution
I-Mab Biopharma, the product of a CBC Group-engineered merger of two Chinese drug developers, has announced plans for a NASDAQ IPO.
Hony Capital has agreed to pay RMB300 million ($42 million) for a 20% stake in Xinhua Xuanmen, a mobile platform launched by China's state-owned Xinhua News Agency.
WeWork, a US co-working space provider pursuing an aggressive Asia expansion with the backing of several PE investors, revealed a number of risks associated with rapid global growth in a filing for its US IPO.
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.
Hony Capital has co-led a $700 million funding round for US film and TV studio STX Entertainment along with TPG Growth, the mid-market investment platform of TPG Capital.
Trustbridge Partners, Temasek Holdings, SoftBank Group and the SoftBank Vision Fund, and Hony Capital have led a $500 million Series B round for the China branch of US-based co-working space operator WeWork.
Hony Capital has agreed to sell three private hospitals in Zhejiang province to Hospital Corporation of China (HCC), a Hong Kong-listed platform it established several years ago, for RMB630 million ($98 million).
Australia-listed oil and gas supplier Santos has rejected a buyout offer from EIG Global Energy Partners backed by China-based private equity firm Hony Capital and gas distributor ENN Group. The deal would have valued the company at up to $10.9 billion.
EIG Global Energy Partners has made a $10.4 billion buyout offer for Australia-listed oil and gas supplier Santos. It is supported by two Chinese groups, private equity firm Hony Capital and gas distributor ENN Group.
STX Entertainment, a film and TV studio that claims to bridge the US and Chinese markets, has filed for an IPO in Hong Kong. The company’s investors include Hony Capital and TPG Capital’s growth arm.
Linmon Pictures, a Shanghai-based boutique entertainment studio, has raised a Series C round of funding from domestic PE firms Hanfor Capital, CQY Capital and Wuniu Capital.
Legend Star, the early-stage investment arm of China’s Legend Holdings, has closed its third VC fund at RMB800 million ($127 million).
Hony Capital has partnered with its portfolio company China Glass Holdings (CGH) to launch a $300 million fund that will invest in glass production projects in countries covered by the One Belt One Road (OBOR) initiative.
Hony Capital is poised to become the latest Chinese private equity firm to enter the mutual fund business.