Tencent
China e-commerce: Chaos in the community
With investor sentiment on China’s technology sector cooling, community group buying platforms are battling to conserve cash. This has done little for the government’s anti-monopoly drive
China ride-hailing app T3 Go raises $1.2b
T3 Go, a Nanjing-based ride-hailing platform, has raised a RMB7.7 billion ($1.2 billion) Series A round led by CITIC Investments. Redview Capital and Virtue Capital also took part.
Indonesian e-commerce marketplace Ula raises $87m
Ula, a leading B2B e-commerce marketplace in Indonesia, has raised $87 million in a Series B round co-led by Prosus Ventures, Tencent Holdings and B Capital Group.
Evergrande EV unit cancels listing, suffers cash crunch
Evergrande New Energy Vehicle (NEV) Group, the Hong Kong-listed electric vehicle unit of troubled Chinese real estate developer Evergrande has canceled a planned secondary listing on Shanghai's Star Market and warned investors of a cash shortage.
China's Ximalaya abandons US IPO
Ximalaya, a Chinese online audio platform backed by the likes of Tencent Holdings, General Atlantic, and Goldman Sachs, has canceled its planned IPO.
Thailand insurtech player Sunday gets $45m Series B
Thailand-based insurance technology start-up Sunday has received $45 million in Series B funding from a group of investors including Tencent Holdings.
VCs commit $55m to China CRM player Xiaoke
Xiaoke, a China-based provider of customer relationship management (CRM) software, has raised $55 million in a Series A funding round from Hong Kong-listed Weimob, Sequoia Capital China, Welight Capital, and Creo Capital.
Tribe, Moore Strategic lead Series C for India's Khatabook
Tribe Capital and Moore Strategic Ventures have led a $100 million Series C round for Khatabook – an India-based bookkeeping app aimed at small merchants – at a valuation of $600 million.
China comic platform Kuaikan raises $240m
Kuaikan, China’s largest publishing platform for comics, has raised $240 million from CCB International, Korean mobile app marketplace One Store, Tencent Holdings, Coatue Management, and Tiantu Capital.
Asia fintech: Platform plays
Expansion is the dominant theme in financial technology as start-ups leverage existing assets to enter new verticals, typically in lending. Which ones will become Asia’s preeminent platforms?
Ascendent founder's SPAC to merge with Tim Hortons China
A special purpose acquisition company (SPAC) sponsored by Liang Meng, founding managing partner of China’s Ascendent Capital Partners, has agreed to merge with PE-backed Tim Hortons China at a valuation of $1.8 billion.
China petcare brand raises $31m
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.
India's Flipkart completes $3.6b funding round
Walmart-controlled Flipkart, one of India’s largest e-commerce players, has raised $3.6 billion at a valuation of $37.6 billion with significant private equity support.
Deal focus: Hefu does dining at scale
China restaurant chain Hefu Noodle caters to a lunchtime office-worker client base from a network of central kitchens. Meridian Capital is one of several investors sold on the expansion opportunity
Regulator blocks China live-streaming platform merger
China’s antitrust watchdog has blocked a merger of Huya and Douyu - the country's two largest video game live-streaming platforms - initiated by Tencent Holdings.
CMC leads $123m Series E for China noodle shop chain
CMC Capital has led a Series E funding round of nearly RMB800 million ($123 million) for Hefu Noodle, a Chinese noodle restaurant chain.
China's Didi targeted by regulators within days of bumper US IPO
Didi completed the largest PE-backed IPO in the US in seven years by a Chinese company, but its stock was pegged back within days of launch after the country's internet regulator moved against the ride-hailing platform.
Philippines-based fintech player Voyager raises $167m
Voyager Innovations, a Philippines financial technology company, has raised $167 million in funding from new and existing investors that will support the development of its PayMaya payments service.
China's Miss Fresh raises $273m in US IPO, drops on debut
Chinese online grocery delivery platform Miss Fresh raised $273 million through its US IPO, but the company endured a difficult debut and continues to trade well below the offering price.
China online education player Huohua Siwei files for US IPO
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science otherwise known as Spark Education, has filed to list in the US.
China ride-hailing giant Didi files for US IPO
Chinese ride-hailing platform operator Didi, which has raised over $20 billion in private funding during its nine-year history and is valued at more than $60 billion, has filed to list in the US.
China renovation materials trading platform raises $400m
Chubby Bear, a Shanghai-based B2B platform that matches buyers with suppliers of renovation materials, has raised $400 million across two tranches of Series C funding.
PE-backed JD Logistics raises $3.2b in Hong Kong IPO
JD Logistics, a supply chain solutions and logistics provider that spun out from Chinese online retailer JD.com, gained 3.3% on its Hong Kong trading debut following a HK$24.6 billion ($3.2 billion) IPO.
Indonesia's Gojek, Tokopedia merge as GoTo
Gojek and Tokopedia, two of Indonesia’s best-funded technology start-ups, have completed a merger, forming what they claim is the largest mobile on-demand services and payments platform in Southeast Asia.