IDG Capital Partners
China’s Sungy Mobile targets $80m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), is targeting a $80 million IPO and a listing on the New York Stock Exchange. The company, which focuses on apps, widgets and functions...
IDG, CreditEase target online finance
CreditEase, the largest peer-to-peer (P2P) lender in China, has introduced a new twist to its relationship with IDG Capital Partners. Two-and-a-half years after becoming an IDG portfolio company, CreditEase has become a principal investor in an IDG-managed...
IDG commits $40m to Peking Duck restaurant chain Quanjude
IDG Capital Partners has invested RMB250 million ($40 million) in Chinese catering chain Quanjude - best known for its Peking Duck dishes - for a 5.78% stake.
IDG, CreditEase to launch financial innovation fund
IDG Capital Partners and CreditEase, a Chinese peer-to-peer (P2P) microcredit lender, have set up a financial innovation fund, targeting a first close of $100 million. The vehicle - IDG CreditEase Financial Innovation Fund – will support online financial...
IDG invests in Chinese personal finance app developer
IDG Capital Partners has provided a Series A round of funding for Hangzhou Wacai Science, a Chinese personal finance management mobile app developer. Terms of transaction was undisclosed but the investment was said to be more than $10 million.
Sequoia Capital leads $15m Series C in App Annie
Sequoia Capital has led a $15 million investment in app analytics platform App Annie, with participation from existing investors IDG Capital Partners, Greycroft Partners, e.ventures and Infinity Venture Partners. Tim Lee, partner at Sequoia Capital and...
China education site Fenbi.com to raise Series B round
Fenbi.com, a Beijing-based online education platform, is about to close its second round of VC funding. It is said that IDG Capital Partners and Matrix Partners China have joined the round, taking total capital raised to $7 million.
Chinese mobile retailer Xiaomi tipped for new round
Xiaomi, a Chinese smart phone brand founded by angel investor Lei Jun, is finalizing a new round of funding that is expected to value the company at $10 billion.
IDG leads Series A for Chinese online game developer Ejoy
IDG Capital Partners has led in a Series A round of funding for Ejoy, a Chinese online gaming developer formed by former executives at NetEase Group. Financial terms were not disclosed but this latest investment brings the total capital raised by Ejoy...
Baidu seals $1.85b 91 Wireless acquisition
Baidu has finalized its acquisition of NetDragon Websoft's 91 Wireless, a Chinese mobile app store and game operator, for $1.85 billion.
Shenzhen lottery site 500wan.com eyes $150m US IPO – report
Chinese venture capital-backed local lottery website 500wan.com plans on raising at least $150 million through an IPO in the US later this year.
Vangoo Capital leads China’s luxury goods site Series C round
Japan’s Vangoo Capital Partners has led a Series C round funding for Secoo.com, a Chinese luxury goods e-commerce platform. The investment sum was undisclosed.Existing investors IDG Capital, French venture capital firm Vantech Capital and Shanghai-based...
China CYTS Tours buys back Wuzhen stake from IDG
IDG Capital Partners has existed Tongxiang Wuzhen Tourism Development to the investee’s parent company, China CYTS Tours Holding, for $67.5 million. The PE firm bought about a 16% stake for $6.47 million in 2009, implying a 10.4x return on its investment.
China’s Baifendian secures $10m Series B round
Baifendian, a Chinese recommendation engine that tracks user tastes and predicts how they might rate items, has received $10 million in Series B financing from Zhejiang Shinkansen Media Investment via its Eastern Starry Sky Culture Fund.
Baidu pays $1.9b for VC-backed 91 Wireless
Chinese search engine giant Baidu is to acquire 91 Wireless - the mobile app store business of online gaming company NetDragon Websoft - for $1.9 billion.
IDG invests $4m in China Weipass Series A round
IDG Capital Partners has provided a $4 million round of Series A funding to China WeiPass, a smartphone app for payment verification.
Four VCs invest in China Bama Tea Series A round
IDG Capital Partners, Tiantu Capital, Shenzhen-based Cowin Capital and Tianjixing Capital have jointly invested in a Series A round of funding for Anxi Bama Tea worth RMB150 million ($24 million).
IDG-Accel China Capital II to acquire mobile tech firm MEMSIC
MEMSIC, a NASDAQ-listed micro electromechanical system (MEMS) solutions provider, has agreed to be acquired by IDG-Accel China Capital II and its affiliates for approximately $88.5 million. The vehicle, managed by IDG Capital Partners, invests in consumer...
Tech crunch: Bridging the Series A gap
On both sides of the Pacific, the venture capital industry is suffering from a dearth in Series A funding. How widespread is the problem and who is most affected?
VC firm leads $6m App Annie Series B round
App Annie, the service provider of app store analytics and market intelligence for the global app economy, has raised $6 million in Series B financing led by Greycroft Partners. China’s IDG Capital Partners, the lead investor in the previous funding...
PE-backed Chinese phone maker Xiaomi to get new funding
Chinese smartphone maker Xiaomi Technology is nearing the closing of a fundraising round that will value the company at $4 billion. The news comes after IDG Capital, Temasek Holdings and Qualcomm reportedly participated in a $90 million B-round of funding...
Bona Film’s CFO to join PE fund
The CFO of Bona Film Group, the largest privately-owned film distributor in China, is leaving to become CEO of a private equity firm.
IDG Capital Partners raises $571m RMB fund
IDG Capital Partners has reached a final close of RMB3.6 billion($571 million) for its Harmony Capital Fund, which will target innovative companies in Beijing technology hub Zhongguancun.