Venture
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Chinese facial recognition player raises $460m
Megvii Technology, a Beijing-based facial recognition software developer, has raised a $460 million Series C round led by China State-owned Venture Capital Fund.
Yunfeng leads $120m round for China’s Xiaozhu.com
Chinese PE firm Yunfeng Capital has led a $120 million Series E round of funding for Xiaozhu.com, a Beijing-based short-term rentals platform.
China’s Guazi raises additional $180m for Series B
Guazi, an online consumer-to-consumer (C2C) used car trading platform that spun out from US-listed Chinese classifieds site 58.com, has raised another $180 million to close its Series B round at $600 million.
ClearVue, TAL lead $55m round for China’s Changingedu
Consumer-focused GP ClearVue Partners and US-listed TAL Education Group have jointly led a $55 million Series D round for Changingedu, a China-based education platform that connects teachers and students.
Singapore eases VC registration process
Singapore has dropped the requirement that venture capital managers must have at least five years of experience to qualify for local registration as part of wider reforms intended to attract more investors to the country.
Indonesia's Snapcart gets $10m Series A round
Vickers Venture Partners has led a $10 million Series A funding round for an international expansion push by Indonesian marketing data researcher Snapcart.
Samsung, Ant Financial back China’s DeePhi Tech
Samsung Electronics and Ant Financial have jointly led a $40 million extended Series A round for DeePhi Tech, a Chinese artificial intelligence (AI) technology developer. China Merchants Venture Capital and China Growth Capital also took part.
China's VC-backed Xing Bian Li acquires industry peer
Shanghai-based Xing Bian Li, a VC-backed new retail company that integrates online and offline channels, has acquired industry counterpart 51 Snackbar.
Jungle hires former Tencent executive
Jungle Ventures has appointed Grace Xia (pictured, center), formerly senior director of corporate strategy and development at Tencent Holdings, as a principal on its investment team.
SparkLabs launches $100m blockchain fund
SparkLabs Group has launched a $100 million early-stage venture capital fund that will focus on blockchain and cryptocurrency investments globally.
Sinovation leads $40m Series B for China's Hua Juan
Sinovation Ventures has led a $40 million Series B round for Chinese e-commerce and online video platform Hua Juan.
Legend, Joy Capital lead $60m for China's Vingoo Juice
Vingoo Juice, a Shanghai-based start-up that develops fresh orange juice vending machines, has raised a RMB400 million ($60 million) Series B round jointly led by Legend Capital and Joy Capital. Yunqi Capital also took part.
Alibaba, Beyond lead $40m round for Hong Kong's Prenetics
Beyond Ventures and Chinese internet giant Alibaba Group have led a $40 million funding round for Hong Kong-based genetic testing and wellness start-up Prenetics.
ROC Partners backs $118m Australian SME fund
Australian private equity firm ROC Partners has teamed up with the state government of New South Wales and pension fund First State Super to launch a A$150 million ($118 million) equity fund targeting small to medium-sized enterprises (SME).
Cathay, GGV back China’s Momenta
Cathay Innovation, a VC affiliate of Cathay Capital Private Equity, has led an extended Series B round for Momenta, a Chinese start-up that develops road sensors and mapping software for self-driving cars, with participation from GGV Capital.
US-based VC to invest $20m in Pakistan technology fund
US-based 1839 Ventures has agreed to invest $20 million in a fund launched by the Pakistan government that will invest in domestic technology start-ups.
Hillhouse leads $46m round for China O2O fitness platform
Lefit, a China-based online-to-offline (O2O) fitness platform, has raised a RMB300 million ($46 million) Series C round of funding led by Hillhouse Capital.
Hong Kong AI fintech start-up MioTech gets $7m Series A
Horizons Ventures, a private investment arm of Hong Kong billionaire Li Ka-shing, has led a $7 million Series A round of funding for MioTech, a Hong Kong-based start-up that develops artificial intelligence (AI) software for the financial services sector.
Philippines confidence endures political strife – AVCJ Forum
The Philippines was praised for its political stability as investor wariness around President Rodrigo Duterte’s crackdown on drugs became a recurring talking point at the AVCJ Philippines Forum.
China electronics recycling platform raises $46m
Huishoubao, a Chinese online recycling platform for electronic devices, has raised a RMB300 million ($46 million) Series B round led by Asia-focused private equity firm Strait Capital Investment Group.
India car-sharing platform Drivezy gets $10m round
Indian car, motorcycle and bicycle rental company Drivezy has received a $10 million funding round from a group of investors including Das Capital, Axan Ventures, CrowdWorks and IT-Farm.
Vertex closes Southeast Asia, India fund at $210m
Vertex Ventures, the VC arm of Singapore’s Temasek Holdings, has closed its latest Southeast Asia and India fund at $210 million, exceeding the $150 million target.
InnoVen names ex-GE executive as new CEO
Temasek Holdings-backed venture debt firm InnoVen Capital has named Ashish Sharma (pictured), former CEO and president of GE Capital India, the CEO of its India arm.
VCs commit $6.6m to Japan's Skydisc
Skydisc, a Japan-based company that provides hardware for internet-of-things (IoT) and artificial intelligence (AI) applications, has raised JPY740 million ($6.6 million) from a group of VC firms, including existing backers Nissay Capital and Archetype...