Tencent
China Life backs AI drug development platform XtalPi
A healthcare fund managed by China Life Insurance has led a $46 million extended Series B investment in XtalPi, a US-based artificial intelligence-enabled healthcare services platform established by Chinese scientists.
Philippines start-ups: Cultural baggage
The Philippines is said to be at a tipping point where growing investor interest is set to culminate in the country’s first global start-up success story. A subtle malaise, however, is offsetting expectations
Deal focus: Linklogis embraces supply chain finance 2.0
GIC Private leads $220 million investment in Linklogis, a financial technology player aiming to fill China's supply chain finance gap
China's Momenta secures new funding, claims $1b valuation
Momenta, a Chinese developer of autonomous driving technology backed by a number of VCs, has announced a fresh funding round of undisclosed size at a valuation of $1 billion.
Asia fintech: Follow the leader
China has set a compelling example for establishing a diversified and deeply penetrated digital banking industry in a developing economy. India and Southeast Asia are taking notes
KKR, Tencent lead $175m investment in PLDT fintech unit
KKR and Tencent Holdings have led a $175 million investment in a financial technology unit of Philippines telecom giant PLDT. It is said to be the largest ever investment in a local technology company.
Tencent invests $318m in recently-listed streaming site Bilibili
Tencent Holdings has agreed to invest $317.6 million in Bilibili, a VC-backed Chinese animation streaming platform that listed on NASDAQ in March.
Hillhouse, Tencent back Chinese low-cost retailer Miniso
Miniso, a fast-growing Chinese low-cost retailer, has received RMB1 billion ($145.5 million) in funding from Tencent Holdings and Hillhouse Capital. The proceeds will be used for international expansion and smart retail initiatives.
China credit services specialist WeShare gets $90m Series B
Shenzhen-based Chinese financial services provider WeShare has secured $90 million in Series B funding led by Huaxing Growth Capital, an investment arm of China Renaissance, as well as CITIC Capital and Loyal Valley Capital.
PAG-backed Tencent Music files for US IPO
Tencent Music Entertainment Group (TME), one of the world’s largest music streaming services, has filed to list in the US. PAG Asia Capital is among the company’s minority backers.
China sports streaming: Match of the day
Private capital entering China’s sports streaming space is gravitating to platforms backed by the incumbent internet giants. But how long will it be before the big content bets pay off?
Chinese B2B liquor trading platform gets $200m Series C
Tencent Holdings and Meituan-Dianping have led a $200 million Series D funding round for business-to-business (B2B) online liquor trading platform Yijiupi.
Meituan-Dianping gains on debut after $4.2b Hong Kong IPO
Chinese online-to-offline (O2O) lifestyle services platform Meituan-Dianping gained 5.3% on its trading debut in Hong Kong following a HK$33.1 billion ($4.2 billion) IPO.
Chinese auto after-sales services player Tuhu raises $450m
Tuhu, a Chinese B2C platform specializing in automobile after-sale services, has raised $450 million in a Series E funding round led by investors including Tencent Holdings, The Carlyle Group, and Sequoia Capital.
China's Qutoutiao soars on debut after $84m US IPO
Chinese news aggregator app Qutoutiao raised $84 million in a downsized US IPO – continuing a recent trend among Chinese tech start-ups – but then saw its stock price more than double on the first day of trading.
China's Nio trades up after smaller-than-expected US IPO
Chinese electric vehicle (EV) maker Nio – which claims its premium vehicle is cheaper and better quality than the Tesla Model X – ended its first day of trading in New York 5.4% above the IPO price following a $1 billion offering.
Tencent, Goldman join $450m round for China’s Miss Fresh
Miss Fresh, a Chinese e-commerce platform specializing in fresh produce, has raised a $450 million round co-led by Tencent Holdings, Goldman Sachs, Jeneration Capital, and US-based Davis Selected Advisers.
Meituan-Dianping targets $4.4b IPO, promises domestic focus
Meituan-Dianping, China’s leading online-to-offline (O2O) lifestyle services platform, is looking to raise up to HK$34.6 billion ($4.4 billion) in its Hong Kong IPO, while emphasizing that it will focus on its core domestic business rather than pushing...
Hillhouse leads $55m round for Chinese online education start-up
Kaochong, a Chinese online learning services provider that targets university students, has secured a $55 million Series D funding round led by Hillhouse Capital, with participation from Tencent Holdings and Matrix Partners China.
Chinese news aggregator Qutoutiao preps for US offering
Qutoutiao, a Chinese news aggregator app that seeks to differentiate itself from market leader Jinri Toutiao by focusing on entertainment-oriented content, has announced plans to list in the US.
PE-backed Chinese healthtech firms to merge
China-based healthcare platforms Tencent Doctorworks and Xingren.com, both of which have several private equity and venture capital investors, have agreed to merge.
China's PE-backed Weimob applies for HK IPO
Weimob, a Shanghai-based provider of marketing and cloud services to online merchants that is backed by Tencent Holdings and several private equity firms, has filed for an IPO in Hong Kong.
Chinese cosmetic surgery app raises $50m Series D1 round
Hong Kong-listed photo editing and social networking app Meitu and a fund-of-funds managed by Shenzhen-based DH Fund have committed $50 million in Series D1 funding to Gengmei, a Chinese information platform that focuses on cosmetic surgery.
Pinduoduo gains 40% on debut after $1.63b US IPO
Chinese social e-commerce platform Pinduoduo – which is backed by Gaorong Capital, Sequoia Capital, and Tencent Holdings, among others – saw its shares gain 40% on debut following a $1.63 billion IPO.