TMT
Legend-owned payment platform to list via reverse merger
Lakala, a Chinese offline third-party payment services provider owned by Legend Holdings, is set to list on the Shanghai Stock Exchange through a reverse merger.
Sequoia backs China second-hand car pricing platform
Sequoia Capital has led a new funding round for Che300.com, a China-based online platform that values second-hand cars.
Kalaari leads $4m round for India’s RKSV Securities
Kalaari Capital has led an INR270 million ($4 million) Series A round for RKSV Securities, a Mumbai-based online stock trading firm.
India's VC-backed Oyo Rooms acquires rival Zo Rooms
Oyo Rooms, an India-based budget hotel booking app backed by SoftBank Corp. and other VCs, has acquired industry rival Zo Rooms, which counts Tiger Global Management as an investor.
China travel site agrees Tencent-backed take-private
Chinese online hotel booking site eLong has agreed to buyout led by a consortium of existing shareholders, including Tencent Holdings and Ctrip. The deal values the company at approximately $647 million.
IMJ targets $53m for Japan venture fund
Singapore-based IMJ Investment Partners has raised JPY2 billion ($17.7 million) for a venture capital fund that will back start-ups in Japan. The full target is JPY6 billion.
Chinese consortium to buy browser provider Opera for $1.2b
A Chinese consortium featuring Qihoo 360 Technology – which recently agreed a $9.3 billion private equity-backed take-private – is poised to acquire Norway-headquartered internet browser developer Opera Software for $1.2 billion.
China’s Kingsoft Cloud raises $60m
Kingsoft Cloud Group, a cloud computing unit owned by China’s Kingsoft, has raised $60 million in a Series C round of funding from a group of investors including IDG Capital Partners.
Rocket Internet raises $31.4m for property portal
Emerging markets property portal Lamudi has raised EUR29 million ($31.4 million) from its main backer, Germany's Rocket Internet, and several additional investors.
VC-backed China bus service start-up raises $26m
Dada Bus, a mobile-enabled provider of bus services in China, has raised RMB173 million ($26 million) in a round led by a Shenzhen-listed construction materials manufacturing company.
China Merchants Bank leads $102m round for Boqii.com
China Merchants Bank has led a $102 million Series C round of funding for Boqii.com, a Chinese social network and e-commerce platform for pet owners.
Wipro Ventures leads $4m round for India's Altizon
Wipro Ventures, the strategic investment arm of Indian technology company Wipro Group, has led a $4 million Series A round for internet development platform provider Altizon Systems.
India VC: Smooth waters ahead?
India’s government has made promising signals about its willingness to engage the venture capital community. GPs are optimistic, but reservations remain about the details
Venturra leads $12m round for Malaysia's KFit
Venturra Capital has led a $12 million Series A round for Malaysia-based gym membership app KFit.
VC-backed China healthcare platform raises $20m
We Doctor Group, a Chinese online healthcare information portal formerly known as Guahao.com, has raised a further $20 million from Shanghai-listed property developer Shandong Tyan Home.
Sequoia closes fifth India fund at $920m
Sequoia Capital has closed its latest India fund – which has a minority allocation to Southeast Asia – at $920 million, comprising an $875 million institutional corpus and a GP commitment of $45 million.
Alibaba to sell stake in China O2O services platform
Alibaba Group has confirmed it will exit Meituan, the China-based online-to-offline (O2O) services provider that agreed to merge with rival Dianping last year, in order to focus on its own platform.
OCBC’s PE unit exits China-based Tsingda eEdu
Mezzanine Capital Unit (MCU), a PE investment unit under Singapore’s OCBC Bank, has sold its stake in China education service provider Tsingda eEdu, generating nearly 3x return on a $20 million investment made in August 2014.
Everbright ReinFore invests in China’s Huasheng Finance
Everbright ReinFore, a private equity arm under China Everbright Group, has led a Series B round of funding for Huasheng Finance, a Chinese online lending platform.
China Merchants Bank to invest in Didi Kuaidi
China Merchants Bank (CMB) has agreed to invest in Chinese ride-hailing app Didi Kuaidi, and to create a strategic partnership with the company as well.
Jungle Ventures adds to management team
Singapore-based Jungle Ventures, which is currently raising its second fund, has strengthened its management team with the appointment of a new CFO, director of corporate development, and head of finance.
Nissay commits $1.7m to Japan's Oneteam
Nissay Capital has invested $1.7 million in Series A funding in Japanese workplace chat app Oneteam.
Deal focus: Investors see value in China auto disrepair
China Pacific Insurance leads a Series B round for Bochewang, a car-trading platform that transfers damaged vehicles from insurers to rebuilders
Late starter: Hong Kong boosts innovation support
Hong Kong is following in Singapore’s footsteps with the announcement of meaningful support for technology start-ups. Why is the government moving on the issue now, and what difference can it make?