China VC/Tech Weekly Roundup: Byton Eyes $500M Series C Round, Sky9 Capital Closes Two Funds At $440M

Chinese electric vehicle start-up Byton showed off the final production version of its SUV model, "M-Byte SUV," at the 2019 Frankfurt Motor Show on September 10, 2019.

In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of September 9 to September 13, with Eudora Wang sitting in for Nina Xiang in Hong Kong.

Topics covered include Chinese all-electric vehicle brand Byton is raising a series C round at US$500 million after the start-up experienced a management shake-up and reported layoffs; Sky9 Capital closed two new funds with US$440 million in total capital commitments; and Houbank, a Chinese online peer-to-peer (P2P) lending platform that counts Sequoia Capital China as a major shareholder, has been put on file for investigation and prosecution of alleged "illegal absorbing public deposits."

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