Bonnie Cheung, a venture partner at 500 Startups, has read hundreds of blockchain whitepapers to screen for a select few that the early-stage investment firm and seed accelerator chooses to back. As things tend to progress with hyper speed in blockchain compared to other industries, 500 Startups has invested in enough projects to solve "the scalability" issue in a matter of four to five months. For now, she wants to see more projects focused on solving the two other key …
In this episode of China Money Podcast, listen to all the news headlines in the week of June 4-8, 2018 with host Nina Xiang and guest Fritz Demopoulos, founder of Queens Road Capital and co-founder of Qunar.com. Topics covered include Chinese smartphone maker Xiaomi Inc.’s dual listing in Hong Kong and in China via the newly implemented CDR program, Ant Financial’s massive US$14 billion new round, and how to keep up with shifting new tech trends in today’s world. Be …
Conrad Tsang, founder and chairman of Hong Kong-based investment firm Strategic Year Holdings Ltd., sat down earlier this week with China Money Network on the sidelines of the China Private Equity Summit 2018, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA). Tsang founded his own firm in 2015 after spending 13 years at Baring Private Equity Asia, last serving as managing director at the global private equity firm. During the early years of his career, he …
For Chinese venture capitalist Wei Zhou, founding managing partner of China Creation Ventures, the changes he has witnessed in China during his professional life have been awe-inspiring.
Chinese venture capital activity saw a jump in the number of announced deals but total deal value dropped significantly last month from April because of the lack of mega deals. In May, 284 VC deals were announced worth an aggregate US$6.38 billion, compared to 209 deals worth US$15.59 billion in April, according to China Money Network’s China VC Tracker released today. China VC Tracker is produced based on proprietary data collected by China Money Network.
Canaan Inc., the world’s second largest Bitcoin mining machine manufacturer, is the first to file an IPO prospectus for a public listing. Therefore, its security filing is an interesting read, providing a rare look into an industry that is still often shrouded in secrecy.
Shoreline Capital, one of the earliest investors focused on China’s distressed debt market, sees an growing number of Chinese property firms experiencing severe liquidity issues, which would provide new opportunities for distressed debt investors.
Hong Kong-based private real estate investment firm Gaw Capital has teamed up with Shenzhen Paladin Asset Management, the investment arm of one of the largest Chinese property developers, Country Garden Group，to jointly launch a US$1 billion special situations fund to invest in distressed real estate projects in China, Gaw Capital confirms to China Money Network.
In this episode of China Money Podcast, listen to all the news headlines in the week of May 7-11, 2018 with host Nina Xiang, together with guest Shai Oster, the Asia bureau chief for The Information. Topics covered include the implications of a recent murder by a Didi driver who passed facial recognition to log into his father’s account to take orders, Xiaomi’s rice cooker maker raising a series C round (and of course Xiaomi’s upcoming IPO), and the planned …
A number of local asset management companies (AMC) have turned to bond issuance as an alternative financing method, as these "bad debt" managers vie for a slice of China’s ballooning RMB1.7 trillion (US$289 billion) non-performing loan market.
Chinese venture capital activity continued its blistering pace of growth in April, with investors inking 209 deals with venture-backed companies worth a total US$15.59 billion. April’s total VC deal value in China was 166% higher than the monthly average in the U.S., according to the China VC Tracker released by China Money Network today.
A Chinese precision manufacturing and equipment maker is in distress with total outstanding debt of RMB45 billion (US$7 billion). Government officials in Zhejiang province, where DunAn Group is based, and creditors have gathered to discuss solutions for the company’s escalating debt crisis.
China’s New Third Board, an over-the-counter exchange for small and medium companies, has signed a memorandum of understanding in Beijing yesterday with the Hong Kong Exchanges and Clearing Co., Ltd. to allow those listed on the New Third Board to list in Hong Kong without additional approval.
The Chinese State Commission of the Central Commission for Discipline Inspection has disclosed that Lai Xiaomin, party secretary and chairman of China Huarong Asset Management Co., Ltd., was suspected of serious violation of laws and regulations and is currently undergoing disciplinary review and investigations, China’s Xinhua News Agency reported.
When talking about his business, Misa Zhu, founder of Chinese artificial intelligence start-up Rokid, frequently uses two words not often associated with tech: gorgeous and patient.
Co-working space operators WeWork China and naked Hub today announced a deal to join forces to build a community with one million members by the end of 2021, in the biggest deal for WeWork and the biggest deal for the co-working sector in Asia.
Global co-working giant WeWork’s China unit is reportedly buying Chinese shared office space startup naked Hub for US$400 million according to sources close to the deal.
At first glance, the investment strategy of veteran private equity manager Cynthia Zhang appears risky. As founder of recently launched private equity firm FutureX Capital, Zhang plans to make mid-to-late stage investments in promising Chinese tech stars, whose valuations are perhaps the highest in the world.
Chinese group-buying and location-based services firm Meituan Dianping is reportedly in talks to buy bike sharing firm Mobike for US$3.7 billion, according to Chinese media reports citing insiders. Both Meituan and Mobike did not respond inquiries from China Money Network to confirm the news. Insiders say that the two parties are likely to announce the deal soon, but the talks could still fall apart. Last month, Meituan was reportedly leading a new financing round in Mobike. Meituan is rumored to …
For John Marsden, a Hong Kong-based cross-border restructuring expert and a partner of Mayer Brown JSM, playing a role in "changing the law" is one of the most exciting aspects of his career.
The mood at a blockchain conference in Seoul, South Korea attended mostly by the Chinese crypto crowd this week was a mixture of euphoria, unease and desperation. The plummeting prices of major cryptocurrencies – Bitcoin was down roughly 35% this year – coupled with stricter government oversight and collapsed projects, is casting dark clouds over new token issuances. "The market condition has weakened significantly from the peak last fall," said the head of a new blockchain project that is in …
China announced plans to merge the two regulators responsible for its banking and insurance sectors, creating a new body with enhanced oversight of the two sectors that have a combined US$43 trillion of financial assets.
An Internet and industrial business subsidiary of Taiwanese consumer electronics firm Hon Hai Precision Industry Co. (Foxconn) has obtained approval from Chinese regulators for an A-share IPO in record time. The unit, Foxconn Industrial Internet Co., was approved for an IPO in China in just 36 days, compared to a usual wait time of one to two years or longer.
Chinese video streaming app Inke is reportedly seeking an initial public offering in Hong Kong after a failed attempt last year to complete a back-door A-share listing in China.
Chinese online anime-streaming platform Bilibili Inc. has filed a F-1 form to raise as much as US$400 million via a listing on the New York Stock Exchange, after being rumored to plan a U.S. IPO for months.
For the hundreds of thousands Chinese scientists trained overseas returning home, there is now a more palpable concern when making this increasingly popular career move. As the FBI accused a top Chinese AI expert for fraud last week, the action was interpreted by China as part of a "technology cold war" waged by the U.S. against the country and its top scientists.
The Chinese blockchain community is on edge as a widely anticipated regulatory crackdown is expected to be announced in a week or so. Some Wechat blockchain groups are being closed down, while rumors are flying about further policy tightening that could make China the most hostile ground for anything cryptocurrency related.
The Chinese securities regulator is rumored to consider giving special approvals to tech unicorns, a term for private tech companies worth US$1 billion or more, so that they can achieve speedy regulatory approval to list shares on domestic stock exchanges.
The blockchain revolution continues in China even as Beijing bans initial coin offerings, cryptocurrency exchanges and Bitcoin mining. The latest "converts" are China’s two largest e-commerce companies, Alibaba Group and JD.com Inc.
Chinese social networking and gaming giant Tencent Holdings Ltd. is in talks with state-owned China Resources Group about potentially taking a stake in its retail franchise business, China Resources Vanguard.
China’s Communist Party (CCP) has proposed revising the country’s constitution that would allow President Xi Jinping to continue serving as the country’s leader with no limits on terms. CCP said in an announcement via state-owned media outlets today that it will remove the provision that states Chinese President and Vice President "shall serve no more than two consecutive terms" from the constitution. There were over a dozen other proposed changes, but the key action is clearly the deleting of the …