TMT
Kingsoft receives $50m from Morningside, GGV, Shunwei
Kingsoft Office Software, an office suite that competes with Microsoft Office, has received $50 million in commitments from Morningside Technologies, GGV Capital and Shunwei China Internet Fund.
Baring Asia backs $2.8b Giant Interactive take-private
Baring Private Equity Asia is supporting a management buyout of Chinese online game developer Giant Interactive Group that values the New York Stock Exchange-listed company at approximately $2.8 billion. If the deal goes through it would be the second-largest...
CBC, Sichuan Changhong to launch $41m internet fund
China Broadband Capital Partners (CBC) and Sichuan Changhong Electric, a Chinese electric goods maker, plan to launch a RMB250 million ($41 million) venture fund to invest in the cloud computing, big data, smart phone and internet industries.
Sungy Mobile stock closes up 19% after $78.5m US IPO
Sungy Mobile, a Chinese app developer backed by IDG Capital Partners, JAFCO, WI Harper and China Broadband Capital (CBC), saw its stock jump 19% on its first day of trading on NASDAQ to close at $13.35.
Sequoia backs China CRM platform Xiaoshouyi
Sequoia Capital has provided a Series A round of funding for Xiaoshouyi, a Chinese customer relationship management (CRM) platform.
Nissay, Globis, SMBC invest $3m in Japan's Itandi
Japanese VC investors Nissay Capital, Globis Capital and SMBC Ventures have committed JPY300 million ($2.9 million) to Itandi, an IT solutions provider to the real estate industry.
Phillip PE leads Series B round for Singapore’s Clozette
Phillip Private Equity has led a $3 million Series B round for Singapore-based fashion shopping network Clozette.co, with participation from existing backers Walden International and several angel investors.
India’s VC-backed Qubecell acquired by mobile payments company Boku
Mobile billing aggregator Qubecell, which is backed by Kae Capital, Blume Ventures, Mumbai Angels and TA Ventures, has been acquired by San Francisco-based Boku.
VC-backed 500.com revises IPO pricing, targets $86.5m
VC-backed Chinese online sports lottery provider 500.com has increased the indicative price range for its US IPO, putting the company on course to raise up to $86.5 million.
Indonesian fashion site Berrybenka raises $5m Series B
Japan's Transcomos has led a $5 million Series B round of funding for Berrybenka, picking a more than 30% interest in the Indonesian fashion e-commerce start-up. Existing backer GREE Venture also participated.
Tencent an investor in Snapchat – report
Tencent reportedly made a minority investment in video messaging app Snapchat in June.
Indian T-shirt design crowd-sourcing platform gets VC funding
Mumbai-based online apparel retailer VoxPopClothing has raised $400,000 in funding from Blume Ventures and other unnamed investors.
DCM, Bertelsmann commit $10m to China’s Ucloud
Ucloud, a Chinese cloud computing service provider, has received more than $10 million in Series A funding from DCM and Bertelsmann Asia Investments.
China’s NSSF invests in US-listed mobile games developer
The National Council for Social Security Fund (NSSF), China's state pension fund, has invested $15 million in China Mobile Games and Entertainment Group (CMGE), a US-listed mobile games operator.
Alibaba buys VC-backed mobile app analytics operator
China e-commerce conglomerate Alibaba Group has purchased Umeng, a Beijing-based mobile app analytics service provider incubated by Innovation Works.
SMBC Venture, Adways invest in Japan e-commerce site
SMBC Venture Capital and strategic investor Adways have together backed Flask Park, a Japanese gift e-commerce company. Details of the transaction were not disclosed.
Australia's HighPoint Capital invests in Brand New Media
HighPoint Capital has acquired a significant minority shareholding in Brand New Media (BNM), a Sydney-headquartered business that runs digital channels for brands and broadcasters. Its partners include Seven West Media in Australia, New Zealand’s national...
Bitcoin boom
“It is in some ways easier to buy things in China using bitcoin than it is using traditional fiat currency,” says Dan Ciporin, partner at the VC firm Canaan Partners.
SAIF, Kalaari provide Series A round for Urban Ladder
Indian online furniture store Urban Ladder has raised $5 million from SAIF Partners and return backer Kalaari Capital in a Series A round.
Vision Knight, Softbank China back tourism site 8trip
Vision Knight Capital has led a RMB150 million ($25 million) round of funding for 8trip, a Chinese B2B online travel website. SoftBank China Venture Capital (SBCVC) also participated in the round.
Matrix, Tiger Global back Indian cab rental firm Olacabs
Olacabs has received a Series B round of funding from Matrix Partners India and existing investor Tiger Global Management, reportedly worth $20 million.
China online video: Big fish, small fish
As Chinese online video consumers switch to mobile platforms, venture capital investors are looking for ways to ride the wave – but they must do it with one eye on strategic players also entering the space
Profile: Helion Venture Partners' Sanjeev Aggarwal
Sanjeev Aggarwal, co-founder of Helion Venture Partners, has been at the vanguard of several pivotal developments in India’s tech industry, from the birth of BPO to the flowering of e-commerce
Gobi backs China travel site Yododo
Gobi Partners has committed $4 million in Series A financing to Yododo.com, a Chinese hostel booking and travel site.