Venture
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UK's Amadeus picks Bhavani Rana to lead new India office
UK tech-focused VC firm Amadeus Capital Partners hired Intel Capital's Bhavanipratap (Bhavani) Rana as partner and head of India operations as it opens a new office in Bangalore.
Lightbox leads $20m round for India QSR chain
Lightbox Ventures has led a $20 million Series B round of funding for Faaso's Food Service, a tech-enabled quick-service restaurant (QSR) chain based in India.
India mobile recharge platform FreeCharge raises $80m
Two hedge funds, San Francisco-based Valiant Capital Management and Hong Kong’s Tybourne Capital Management, have participated in an $80 million Series C round for Indian mobile top-up platform FreeCharge.
Renren backs China used car platform Cheyipai
Chinese social networking platform Renren has led $110 million Series D round of funding for Cheyipai, a Chinese second-hand car trading platform.
Sequoia leads $60m round for China construction site
Sequoia Capital has led a $60 million funding round for Wangzhu Corporation, an online construction services provider controlled by Chinese property developer Greentown Group.
Japanese mobile games developer MyNet raises $6.2m
MyNet, a Japanese mobile games developer, has raised JPY730 million ($6.2 million) from a slew of investors including B Dash Ventures, SMBC Venture Capital, Shinsei Corporate Investment, and Sumitomo Mitsui Bank.
Alipay confirms investment in India’s VC-backed One97
Ant Financial Service Group, Alibaba Group’s online financial service affiliate, has agreed to acquire a 25% stake in Indian VC-backed mobile internet services provider One97 Communication.
DBS launches Singapore venture debt program
DBS Bank has launched a venture debt program to support Singapore start-ups, presenting a capital-raising channel that involves little or no dilution of equity.
GGV leads $50m round for China credit card management app
GGV Capital has led a $50 million Series B round of funding for 51Zhangdan, a Chinese mobile app that helps manage credit card spending.
Australia’s DesignCrowd wins backing from AirTree Ventures
DesignCrowd, an Australia-based crowdsourcing platform used to source designs from hundreds of freelance designers, has received A$6 million ($4.6 million) in a Series B funding round led by AirTree Ventures.
Taiwan’s MasterLink Securities launches VC units in Tianjin
MasterLink Securities, the fourth-largest brokerage firm in Taiwan, has won regulatory approval to launch two venture capital investment units in mainland China.
Indian optician raises $6.4m from AHF, Ventureast
Asia Healthcare Fund (AHF) and early-stage player Ventureast have together invested INR400 million in Eye Gear Optics India, the start-up behind optical retail chain Ben Franklin.
Shunwei commits $9.6m to China interior decorating platform
Shunwei Capital Partners has led a RMB60 million ($9.6 million) Series A round of funding for Ikongjian.com, a Chinese interior finishings site, with participation from H Capital and DST Advisors.
India venture debt: Innovation capital
Led by SVB India, venture debt providers are beginning to take root in India. Can this nascent asset class replicated its success in developed markets and become a viable option for domestic start-ups?
Alibaba sets up non-profit VC unit to boost HK entrepreneurs
China’s Alibaba Group has created a HK$1 billion ($129 million) non-for-profit foundation to support Hong Kong start-ups.
Valiant leads $26m Series D for India's FirstCry
Valiant Capital Partners has led a $26 million Series D round for Brainbees Solutions, the Indian start-up behind babies and children-focused retailer FirstCry.com.
Sequoia leads Series B round for China P2P car-sharing app
Sequoia Capital has led a Series B round of funding for Tiantian Yongche, a Chinese peer-to-peer (P2P) car-sharing platform.
Qiming, IDG back China B2B plastics trading platform
Qiming Venture Partners and IDG Capital Partners have led a $20 million Series A round of funding for Zhaosuliao.com, a Chinese B2B plastics trading platform.
Gobi, ABC lead $6m Series A for China's AutoBot
Gobi Partners and ABC Capital have led a $6 million Series A round for Chinese start-up AutoBot, which makes diagnostic tools for cars.
Facebook co-founder leads round for Singapore property site
Eduardo Saverin, co-founder of Facebook and Singapore resident, has led a S$2 million ($1.5 million) round of seed funding for 99.co, a local property listings site. Sequoia Capital also participated alongside several entrepreneurs-turned-investors.
Japan's Gumi Ventures reaches a $16.9m close on Fund II
Gumi Ventures - the corporate venture arm of the Japanese mobile gaming company of the same name - has reached a JPY2 billion ($16.9 million) final close on its second fund.
First Eastern's Chu launches Nova Scotia fund
Victor Chu, chairman of Hong Kong-based First Eastern Investment Group, is leading a group of private investors that will create a C$50 million ($40 million) venture capital fund in Nova Scotia, Canada.
YJ Capital launches Fund II, backs Indonesia fashion site
YJ Capital - the corporate VC arm of Yahoo! Japan - has announced the launch of its second fund, which has made its first investment in Indonesia fashion flash sale site VIP Plaza.
Japan’s Wizpra raises $2m from VCs
A consortium of Japanese investors including Gree Ventures, Mobile Internet Capital, SMBC Venture Capital, and Mizuho Capital has invested JPY230 million ($1.9 million) in internet-based market research platform Wizpra.