Sinovation Ventures
China math tuition platform VIPThink secures $180m
VIPThink, a Guangzhou-based online mathematics teaching platform for kids, which is also known as Wandou Siwei, has received $180 million in Series C funding led by SoftBank Vision Fund.
Sinovation seeks $1b for China AI fund
Sinovation Ventures is looking to raise $1 billion for a growth-stage private equity fund that will focus on introducing artificial intelligence technologies (AI) to traditional industries.
China's Ucommune acquired by US-listed SPAC for $765m
Ucommune, a Chinese co-working space operator that failed to get traction with an attempted New York IPO last year, has been acquired by a US-listed special purpose acquisition company (SPAC) at a valuation of $764.9 million.
Chinese cosmetics player Meishang raises $28m
Meishang, a Chinese cosmetics company with a presence in South Korea and Taiwan as well as in its home market, has raised RMB200 million ($28 million) in funding led by furniture giant from Red Star Macalline.
Chinese medical SaaS platform raises $14m Series B
Mingyi Zhonghe, a software-as-a-service (SaaS) platform serving China’s rural clinics, has secured a RMB100 million ($14 million) Series B round led by Sinovation Ventures. Existing investor Yijing Capital re-upped.
Qiming leads $37m round for Hong Kong biotech player
Qiming Venture Partners has led a $37 million Series B round for Insilico Medicine, a Hong Kong-based drug development company that uses artificial intelligence (AI).
Chinese calligraphy tuition platform raises $28m
Hexiaoxiang, a Chinese online education service that teaches calligraphy to kindergarten and primary school children, has closed a Series B funding round worth RMB200 million ($28 million).
Singapore's Novena buys VC-backed China hair salon chain
Singapore-based healthcare platform Novena Global Lifecare has completed a $350 million merger with Xingkedou, a VC-backed Chinese hair salon operator that specializes in fast turnaround services.
Boyu leads round for Chinese health insurance platform
Waterdrop, a Chinese online health insurance platform that runs mutual aid programs and provides brokerage services, has raised RMB1 billion ($145 million) in Series C funding led by Boyu Capital.
Sinovation closes $362m RMB fund, establishes GBA base
Sinovation Ventures has raised RMB2.5 billion ($362 million) for a fund that will focus on artificial intelligence (AI), big data and related areas. The final close was announced at the unveiling of the firm’s Greater Bay Area (GBA) headquarters in...
China social e-commerce player Beidian gets $126m
Beidian, a Chinese membership-only social e-commerce website, has raised RMB860 million ($126 million) from a group including Hillhouse Capital and Sequoia China Capital.
China AI: Deep questions
Concerns around valuations, commercialization timelines, deal targeting, and brand perceptions are coming into focus as China’s AI ecosystem catapults to global prominence
China-Belarus fund backs Series C for chatbot specialist
The China-Belarus Industrial Investment Fund, an investment vehicle under China Merchants Group, has led a $41 million Series C round of funding for Shenzhen-based Zhuiyi Technology, an artificial intelligence start-up specializing in chatbots.
Tencent leads $74m round for China crowdfunding platform
Shuidi, the operator of Shuidichou, a Chinese crowdfunding platform for patients with critical medical conditions, has raised RMB500 million ($74 million) in a Series B round of funding led by existing investor Tencent Holdings.
China's Bitmain pulls plug on Hong Kong IPO
Bitmain, a private equity-backed Chinese business that manufactures chips for Bitcoin mining, has allowed its application for a Hong Kong IPO to lapse.
Chinese chip maker secures $22m Series B
National Chip, a Chinese manufacturer of chips for digital TVs, has raised a RMB150 million ($22 million) Series B round led by China’s State Development & Investment Corporation, with participation from Sinovation Ventures.
Chinese AI start-up AInnovation raises $59m
Beijing-based artificial intelligence (AI) solutions provider AInnovation has raised RMB400 million ($58.9 million) in Series A funding led by CICC Alpha, a subsidiary of China International Capital Corporation.
PE-backed Chinese crypto player set for Hong Kong IPO
Bitmain, a five-year-old Chinese company that is the dominant global player in manufacturing chips for bitcoin mining, with revenues ballooning nearly tenfold to $2.5 billion last year, has filed for a Hong Kong IPO.
China-US tech: The innovation game
The emergence of domestically-developed tech business models in China that can be exported overseas has VC investors hoping the country can become known as an innovator rather than a copycat
China VC: Selection issues
China's venture capital space is increasingly popular among LPs, overpopulated by GPs, and generally difficult to navigate
China's Sinovation launches AI-focused fund
Sinovation Ventures has formed a RMB2.5 billion ($395 million) venture capital fund that will focus on artificial intelligence (AI). It is a cooperative effort with the Guangzhou government to drive technology development.
Sinovation confirms Fund IV close at $500m
Chinese VC firm Sinovation Ventures has confirmed a final close for its fourth fund at the targeted corpus of $500 million.
BBVA backs China Sinovation Ventures’ fourth fund
Spanish bank BBVA has committed $50 million to Chinese VC firm Sinovation Ventures’ latest US-dollar denominated fund.
Sinovation seeks $500m for China fund
Chinese early-stage venture capital firm Sinovation Ventures is looking to raise $500 million for its fourth US dollar-denominated fund.