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Joy Capital leads $60m round for Chinese vacation rentals site
Xiaozhu.com, a Chinese short-term rental site, has completed a Series C round of funding worth $60 million led by Joy Capital, a new VC firm spun-out from Legend Capital.
China auto after-sales services platform raises $60m Series C
Diandian Yangche, a VC-backed mobile app that focuses on automotive after-sales services in China, has raised a $60 million Series C round of funding from undisclosed investors.
Nova, Caixa lead $3m Series A for Malaysia eyewear retailer
Nova Founders Capital and Caixa Capital have led a $3 million Series A round for Malaysia-based eyewear retailer GlassesGroupGlobal.
Oriza, SF Express invest $80m in China Wi-Fi operator
Oriza Holdings and SF Express, a Chinese logistics company, have led an $80 million Series A round of funding for 100MSH, a start-up that provides public Wi-Fi networks to commercial operators.
Wanda, Tencent, CITIC Capital join $967m round for China travel site
Wanda Group, Tencent Holdings and CITIC Capital have participated in a RMB6 billion ($967 million) financing round for Tongcheng Network Technology, a VC-backed Chinese online travel agency.
Cathay Capital launches Sino-French innovation fund
Cathay Capital Private Equity has launched a Sino-French Innovation Fund that is looking to invest in start-ups in France, China and the US.
Warburg Pincus joins $250m round for China chauffeured car service
Warburg Pincus and Legend Capital are participating alongside Chinese car hire firm China Auto Rental (CAR) in a $250 million investment in Ucar, a China-based chauffeured car service provider.
IDG, DCM, NLVC commit $100m to China mobile office platform
IDG Capital Partners, DCM and Northern Light Venture Capital (NLVC) have participated in a $100 million Series D round of funding for Fxiaoke.com, a Chinese cloud-based mobile business management application.
Ratan Tata backs India taxi platform Ola
Ratan Tata, chairman emeritus of Tata Group holding company Tata Sons, has invested an undisclosed amount in India taxi-booking platform Ola.
DST executive joins China's Xiaomi as CFO
Chinese smartphone maker Xiaomi has appointed Shou Zi Chew, formerly a partner at DST Global, as its chief financial officer.
New Horizon, Addor Capital back China rural e-commerce play
New Horizon Capital and Addor Capital, a PE firm under Govtor Capital, have participated in a RMB500 million ($81 million) Series A round of financing for Huitongda, an online home appliance retailer that focuses on China’s rural areas.
Korean restaurant site MangoPlate raises $6.1m
South Korean restaurant discovery platform MangoPlate has raised $6.1 million from a group of corporate VC backers including Qualcomm Ventures, SoftBank Ventures Korea, and Yahoo Japan's YJ Capital.
IDG backs take-private bid for China’s KongZhong
IDG Capital Partners and the chairman and CEO of online game developer KongZhong Corporation have submitted a take-private bid for the company. It values the business at approximately $388 million.
Qiming promotes William Hu to managing partner
China VC firm Qiming Venture Partners has promoted healthcare specialist William Hu to managing partner with immediate effect.
Late-stage tech: Hedging bets in India
Everyone is trying to get of the piece of tech story in India and US hedge funds are not different, but what will their entry into the early stage rounds mean for the broader venture capital industry
Chinese tutor app Changingedu.com raises $100m
TAL Education Group, a US-listed K-12 after-school tutoring service provider, has led a $100 million Series C round for Changingedu.com, a China-based platform that connects private teachers with students.
VCs commit $20m to China logistics cloud solution provider
IDG Capital Partners, Matrix Partners and Yunqi Ventures have provided $20 million in Series A funding to Olymtech Corporation, a Chinese cloud solutions specialist that focuses on the logistics industry.
Former Matrix China director launches RMB VC fund
Roger Hu, a director at Matrix Partners China, has teamed up with Yi Zheng, formerly vice president at Chinese dating app Momo, to launch a renminbi-denominated early-stage fund.
Morningside, IDG provide Series B round for China’s AllMobilize
Morningside Technologies and IDG Capital Partners have invested in a Series B round of funding for AllMobilize, a Chinese start-up that helps companies create websites that are adaptive to mobile devices.
Alibaba, Ant Financial form JV to invest in China’s O2O service
Alibaba Group and its financial affiliate Ant Financial plan to invest nearly $1 billion in a joint venture that will tap into China’s local online-to-offline (O2O) services market, initially focusing on the food and beverage segment.
PE-backed Focus Media’s backdoor listing encounters hurdles
Private equity-backed Focus Media’s planned $7 billion reverse merger with Shenzhen-listed Hongda New Material has encountered another setback following the resignation of Hongda's chairman in response to a probe by authorities.
CX set for partial exit as Matrix Cellular files for India IPO
Matrix Cellular, an Indian telecommunications company that caters to people traveling abroad, has filed for an IPO. This would allow a partial exit for private equity backer CX Partners.
Deal focus: Qiming sees Tuhu as agent of disruption
When it comes to using technology to disrupt China’s auto industry, private equity and venture capital funding appears to have targeted almost every corner of the space.
Onshore IPOs and China VIEs: Replacement capital?
With Chinese entrepreneurs considering domestic IPOs, foreign VCs face the prospect of having to sell off investments in restricted industries. But the trend can only be sustained as long as valuations remain high