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China property marketplace trades flat after $78m IPO
Chinese online real estate marketplace Fangdd Network raised $78 million in its US IPO, having reduced the size of the offering, and traded flat on its first day on NASDAQ.
Fund focus: AirTree goes full service
AirTree Ventures raised $188 million for its third fund on the back of a hiring spree that has doubled headcount and added operational capabilities as the firm looks to nurture a new generation of Australian unicorns
Fund focus: J.P. Gan bucks VC fundraising trend
Having spent 12 years at Qiming Venture Partners, J.P. Gan has raised $352 million for his debut fund at Ince Capital Partners. More early-stage consumer internet deals will follow
China car finance player targets US IPO
Meili Auto, a Chinese car financing platform, has filed for US IPO. Its backers include Gaorong Capital, China International Capital Corporation (CICC), and Lingfeng Capital.
China media platform Lizhi pursues US listing
Lizhi, a Guangzhou-based audio streaming and social networking platform backed by Matrix Partners China and Morningside Venture Capital, has filed for a US IPO.
Chinese auto parts platform Casstime raises $80m
Sequoia Capital China and Source Code Capital have co-led a $80 million funding round – described as the first tranche of a Series C – for Chinese aftermarket car parts supplier Casstime.
China's Danke raises $190m, files for US IPO
China-based long-term apartment rental platform Danke has filed for a US IPO. It comes a fortnight after the company raised $190 million in Series D funding from CMC Capital Partners and Primavera Capital Group.
PE-backed bitcoin mining company files for US IPO
Canaan, which claims to be China’s leading manufacturer of bitcoin mining equipment has filed for a US IPO. This follows failed attempts to list in Hong Kong and complete a reverse merger in Shenzhen.
KKR plans Asia tech fund
KKR plans to raise a growth-stage technology fund focused on Asia, expanding a strategy that is already operational in North America, Europe, and Israel.
Chinese VC in Africa: Cultural barriers
Chinese investors recognize the long-term potential in fostering technology-enabled business models in Africa, but reluctance to engage local stakeholders and develop local knowledge is holding them back
India motorcycle taxi platform Rapido gets $55m Series B
Chinese early-stage investor Shunwei Capital Partners has participated in a Series B funding round for Indian motorcycle taxi operator Rapido, drawing comparisons with the growth trajectory of Indonesia’s Go-Jek.
Singapore marketing tech player Mobikon raises $12.5m
Mobikon, a Singapore-based marketing technology provider for the restaurant industry, has received a $12.5 million Series B round led by Binny Bansal, co-founder of Indian e-commerce giant Flipkart.
Qiming leads $21m Series C for Chinese lingerie brand
Neiwai, a Chinese lingerie brand, has achieved a valuation of more than RMB1 billion ($142 million) following a RMB150 million Series C round led by Qiming Venture Partners.
L'Oréal makes LP commitment to Cathay VC fund
L’Oréal will support the second fund being raised by Cathay Innovation, the VC affiliate of Cathay Capital Private Equity. The company wants to build ties to the beauty tech start-up ecosystem in China, its second-largest market.
Chinese online-offline retailer KK Group achieves unicorn status
Chinese retailer KK Group - formerly known as KK Guan - has raised a $100 million Series D led by an Alibaba Group-backed fund. N5 Capital, Matrix Partners China and Black Algae Capital all re-upped.
Chinese enterprise software player Ekuaibao receives $50m
Ekuaibao, a Chinese software-as-a-service (SaaS) provider specializing in corporate reimbursements, has raised $50 million in an extended Series C round.
Australia's AirTree closes third fund at $188m
Australia’s AirTree Ventures has closed its third fund at A$275 million ($188 million) with substantial contributions from local superannuation funds.
Ex-Qiming managing partner raises $352m for debut China fund
Ince Capital Partners, a Chinese consumer internet-focused venture capital firm established by former Qiming Venture Partners executive J.P. Gan, has closed its debut fund at the hard cap of $351.9 million.
Alibaba-backed positioning service provider raises $141m Series A
Qianxun Spacial Intelligence or Qianxun SI, a high-precision positioning services provider, has raised RMB1 billion ($141 million) in a Series A funding round, taking its valuation past RMB13 billion.
China's Qutoutiao raises $100m for e-book app
CMC Capital Partners has led a $100 million Series B round of funding round for Midu, an e-book platform operated by Chinese news aggregator Qutoutiao.
India's MyGate gets $56m Series B
Tencent Holdings, JS Capital, Tiger Global Management, and Prime Venture Partners have provided a $56 million Series B round to India’s MyGate, a security app for gated communities.
Chinese investors lead round for US influenza specialist
Ansun BioPharma, a US-based drug developer led by a former executive at healthcare-focused VC firms Caduceus Asia Partners and OrbiMed, has raised $80 million in Series B funding from a predominantly Chinese investor base.
Chinese renovation materials trading platform raises $18m
Little Bear, a Shanghai-based B2B platform that matches buyers with suppliers of renovation materials, has raised RMB130 million ($18 million) led by Immensus Capital, with participation from Matrix Partners China and Yunqi Capital.
Indonesia's Alodokter gets $33m Series C
Indonesian insurer Sequis Life has led a $33 million Series C round of funding for Alodokter, a local super app operator that connects patients with doctors and healthcare information.