Trustbridge
China carpooling player Dida revives Hong Kong IPO bid
Dida, a PE-backed Chinese car-pooling and ride-hailing platform, has filed to list in Hong Kong – for the fourth time in three years. There are records of lapsed registrations from 2020, 2021, and earlier in 2023.
Deal focus: Nexus Point doubles down on dentistry
With a dentist clinic chain already in the portfolio, Nexus Point Capital has backed a B2B procurement platform that services clinics. It is a firm believer in the industry’s tailwinds
Deal focus: Freight player G7 eyes public listing
Having expanded its business scope from hardware into software and financial services, G7 Network is positioning its recent USD 200m PE investment as a pre-IPO round
China truck smart devices manufacturer raises $200m
G7 Networks, a Chinese company that uses smart devices to track cargo trucks, has raised a USD 200m round led by Trustbridge Partners, and State Development & Investment Corporation (SDIC). Several existing investors re-upped.
China's Ximalaya abandons US IPO
Ximalaya, a Chinese online audio platform backed by the likes of Tencent Holdings, General Atlantic, and Goldman Sachs, has canceled its planned IPO.
Primavera pursues China online education take-private
Primavera Capital Group has submitted a $33.3 million take-private bid for Liulishuo, a China-based operator of an English language learning app. The company's stock has struggled following a recent crackdown on online education platforms in China.
China online education player Huohua Siwei files for US IPO
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science otherwise known as Spark Education, has filed to list in the US.
PE-backed JD Logistics raises $3.2b in Hong Kong IPO
JD Logistics, a supply chain solutions and logistics provider that spun out from Chinese online retailer JD.com, gained 3.3% on its Hong Kong trading debut following a HK$24.6 billion ($3.2 billion) IPO.
China’s Hope Medicine raises $56m Series B
Chinese innovative drug company Hope Medicine has raised a $56 million Series B round jointly led by Qiming Venture Partners and Grand Flight Investment.
China audio platform Ximalaya files for US IPO
Ximalaya, China’s largest online audio platform, which counts the likes of Tencent Holdings, General Atlantic, and Goldman Sachs among its backers, has filed for a US IPO.
China vocational education provider gets $390m Series A
Fenbi, a China-based vocational education platform, has raised $390 million in a Series A round led by IDG Capital and Trustbridge Partners. Hony Capital also took part.
China math tuition platform adds $150m to Series E
Huohua Siwei, a China-based children's online education platform specializing in mathematics and science, has raised $150 million in the third tranche of the Series E round, taking the overall total to $400 million.
China-based English learning platform raises $100m
Tencent Holdings and Trustbridge Partners have led a $100 million Series C funding round for Jiliguala, a Shanghai-based online English learning platform.
China smart storage player Hive Box raises $400m
Hive Box, a China-based self-service package drop-off and pick-up operator, has received $400 million in funding from Trustbridge Partners, Asia Forge, Sequoia Capital China, Redview Capital, and All-Stars Investment. The pre-money valuation is $3 billion.
VC-backed Chinese online tutor Xueba close to bankruptcy
Xueba100.com, a China-based one-to-one online tuition platform, has halted operations and is looking for industry peers to assume responsibility for its students and teachers.
Trustbridge leads $500m round for China's Dxy.cn
Trustbridge Partners has led a $500 million round for Dingxiangyuan – also known as dxy.cn – a Chinese digital medical platform that primarily serves as a forum for healthcare industry professionals.
China open source software player raises $43m Series B
Zilliz, a Chinese open-source software developer specializing in unstructured data processing and analysis, has raised a $43 million Series B round led by Hillhouse Capital affiliate GL Ventures.
China carpooling player Dida pursues Hong Kong IPO
Dida Chuxing – a Chinese peer-to-peer carpooling business that subsequently expanded into ride-hailing, putting it in direct competition with longstanding market leader Didi Chuxing – has filed for a Hong Kong IPO.
Trustbridge assumes control of WeWork China
Trustbridge Partners has committed $200 million to WeWork's China operation as part of a deal that sees the business become fully independent from its US-headquartered parent.
Trustbridge spin-out Vitalbridge closes debut China fund
Vitalbridge Capital, a Chinese venture capital firm established by Jinjian Zhang, formerly of Trustbridge Partners, has raised $150 million for its debut fund.
Trustbridge backs Chinese storytelling start-up
Chinese children’s storytelling start-up Kaishu Story, also known as Kaishu Jianggushi, has raised $66 million in an extended tranche of Series C round led by Trustbridge Partners.
Twitter leads $100m round for India's ShareChat
Twitter has led a $100 million round for Indian social networking platform ShareChat with support from private equity investor Trustbridge Partners.
WeWork IPO reveals extent of global scaling risk
WeWork, a US co-working space provider pursuing an aggressive Asia expansion with the backing of several PE investors, revealed a number of risks associated with rapid global growth in a filing for its US IPO.
China's Yunji completes $121m US IPO, gains 29% on debut
Yunji, a Chinese membership-based e-commerce platform, gained 29% on its NASDAQ trading debut following a $121 million IPO that was largely covered by two of its private equity investors.