TMT
Japan’s Folio gets $63m in extended Series A
A group of investors including Goldman Sachs have invested JPY7 billion ($63 million) in Japanese stock trading app operator Folio.
Alibaba's Taiwan fund backs fitness brand
Space Cycle, a boutique fitness studio chain operating in mainland China and Taiwan, has raised a RMB100 million ($15.6 million) Series B round of funding led by Alibaba Taiwan Entrepreneurs Fund.
Technology: Auto ambitions
Private equity firms and strategic investors are driving an automotive technology arms race in Asia
Deal focus: VCs see value in secondhand luxury
Chinese online pre-owned luxury goods retailer Xinshang aims for scale with investments from GGV Capital, Joy Capital and Northern Light Venture Capital
Fosun Capital leads $80m Series B for China’s BingoBox
BingoBox, a Chinese unmanned convenience store operator, has raised an $80 million Series B round of funding led by Fosun Capital. Existing investors Prometheus Capital, Qiming Venture Partners, GGV Capital and Ventech China also took part.
China apartment rental firm Ziroom raises $621m
Ziroom, a Chinese apartment rental service provider, has raised a RMB4 billion ($621 million) Series A round of funding led by Warburg Pincus, Sequoia Capital, and Tencent Holdings.
China’s Bianlifeng acquires VC-backed Lingwa
Bianlifeng, a Chinese PE-backed cashier-free convenience store operator, has acquired a controlling stake in its peer Lingwa. Financial terms were not disclosed.
Morningside, Legend lead $112m round for China’s Pony.ai
Pony.ai, a China and US-based start-up that develops autonomous driving solutions, has completed a $112 million Series A round of funding jointly led by Morningside Venture Capital and Legend Capital.
Tiger co-leads $20m Series B for India's Razorpay
Tiger Global and Y Combinator have led a $20 million Series B round for India-based online payment gateway Razorpay.
India's Pi Ventures reaches $25m second close on AI fund
Indian early-stage investor Pi Ventures has announced a second close of $25 million on its debut artificial intelligence (AI)-focused fund.
CICC leads $96m round for Chinese sports site Hupu
Hupu Sports Media, a Chinese language sports information and e-commerce site, has raised a RMB618 million ($96 million) round led by a government-backed fund managed by China International Capital Corporation (CICC).
VCs invest $13m in Indian payroll services player
Niyo Solutions, an Indian financial technology company specialized in payroll services, has raised a $13.2 million Series A round from a group of VC firms, including Hong Kong’s Horizons Ventures.
China co-working space start-up gets $92m
Kr Space, a China-based co-working space operator, has received RMB600 million ($92 million) in a pre-Series B round of funding from its existing investors.
Deal focus: VCs fuel Canva’s growth designs
Australia's Canva achieves a $1 billion valuation following a $40 million round led by Sequoia Capital China
Hyundai joins round for Southeast Asia's Grab
South Korean automaker Hyundai has joined the latest funding round for Southeast Asia-based ride-hailing platform Grab. The move comes five months after Toyota also backed the company.
VCs in $146m Series A round for China’s Black Fish
Black Fish, a Chinese online consumer finance platform, has raised a RMB950 million ($146 million) Series A round from Lightspeed China Partners, Morningside Venture Capital, Jafco Asia, and Gobi Partners.
Tiger Global, TAL invest $100m in China’s Dada ABC
Tiger Global Management and TAL Education have invested $100 million in a Series C round of funding for Dada ABC, an online K-12 English education platform based in China.
CDH backs Chinese healthcare AI business
CDH Investments has invested in Huiyi Huiying (HY), a Beijing-based start-up that offers artificial intelligence-based (AI) medical imaging diagnosis. Financial terms were not disclosed.
Technology: The unavoidable angle
Technology is directly or indirectly redefining business models across Asia. Private equity investors must embrace change or risk seeing returns damaged as portfolio companies are disrupted
Warburg Pincus, Genesis invest $120m in China's Zhangmen
Warburg Pincus and Genesis Capital have committed $120 million in Series D funding to Chinese online tutoring platform Zhangmen.
Australia's Canva raises $40m, achieves $1b valuation
Australian graphic design platform provider Canva has raised a $40 million funding round led by Sequoia China. The investment values the company at $1 billion.
GGV, Joy Capital lead $50m round for China’s 91Xinshang
GGV Capital and Joy Capital have jointly led a $50 million Series C round of funding for 91Xinshang, a secondhand luxury goods trading platform in China.
Tencent, Orchid Asia back China music learning platform
VIP Peilian, a Chinese online music tutoring platform, has completed a Series B round of funding led by Tencent Holdings and Orchid Asia.
China's BaishanCloud gets $50m Series C
BaishanCloud, a Chinese data services company with a presence in the US, has closed a $50 million Series C funding round led by Alpha Capital and Chunjia Capital.