China’s Qudian Inc., a provider of online consumer credit products backed by Ant Financial, has completed a listing on the New York Stock Exchange, raising approximately US$900 million.
Chinese venture capital firm China Creation Ventures, founded six months ago by Zhou Wei, formerly a managing partner at venture firm Kleiner Perkins Caufield & Byers China, has reached first closing of its U.S. dollar dominated fund at nearly US$100 million.
Chinese private equity firm Hony Capital has agreed to acquire 30% of Duemmei, the owner of Italian fashion brand Mr&Mrs Italy, to support the brand’s expansion in Asia.
Singapore’s Temasek Holdings has led a US$502 million series D round in Magic Leap Inc., a U.S.-based augmented reality start-up.
JD Finance, the financial services unit of Chinese e-commerce giant JD.com Inc., has hired Bo Liefeng (pictured), former principal research scientist at Amazon.com Inc., as chief scientist of its artificial intelligence lab.
Chinese peer-to-peer lending platform PPdai.com will seek an initial public offering on the New York Stock Exchange, the company said in a filing, marking the latest Chinese financial technology company to go public. PPdai.com is currently values as a unicorn on China Money Network’s China Unicorn List with a US$2 billion valuation.
Chinese Internet firm Tencent Holdings Ltd. has led a US$1.1 billion new funding round in Ola, an Indian ride sharing company that boasts 800,000 drivers in 110 cities in the world’s second most populous country.
Mainland China recorded robust venture capital activity in the third quarter, with the country taking half of the world’s ten largest venture capital deals during the period. Artificial intelligence (AI) was a leading sector for deal making, according to KPMG’s quarterly global report on venture capital trends.
SoftBank Group Corp has led a US$93 million series B round in Petuum Inc., a Pittsburgh, Pennsylvania-based machine learning infrastructure platform founded by a team of Chinese entrepreneurs, with participation from Chinese investment firm Advantech Capital.
Chinese investment firm Shunwei Capital has led a US$100 million round in Lalamove, a Hong Kong-based same-day inner-city delivery and logistics provider in Southeast Asia and China.
Chinese venture capital firm Source Code Capital has hired Huang Yungang (pictured), a former managing director at Matrix Partners China, as a partner.
Singapore’s state investment firm Temasek Holdings, Chinese investment firm Tiantu Capital and Xindahanshi Capital have led a US$72.8 million new funding round in Tongdun Technology, a Chinese fintech start-up specializing in risk control.
Chinese short-term vacation home rental platform Tujia.com has completed a US$300 million series E round at a valuation of over US$1.5 billion. Existing investors All-Stars Investment and Ctrip led the round, with China Renaissance’s New Economy Fund, Glade Brook Capital, and G Street Capital also participating, the firm announced today.
The Chinese government announced a new policy directive to further encourage innovation in new drug development and medical device yesterday, making significant changes to existing policies to spur an already thriving healthcare sector in the country.
Chinese search engine giant Baidu Inc. has opened its second research and development facility in Silicon Valley, to focus on autonomous driving and Internet security related work.
Happigo Home Shopping Co., Ltd., a TV shopping platform listed on ChiNext, a NASDAQ-style board of the Shenzhen Stock Exchange, will acquire 100% ownership of Mango TV, an online video platform of Hunan Satellite TV, for RMB9.5 billion (US$1.4 billion), according to a stock exchange filing by Happigo.
Chinese e-commerce giant JD.com Inc. has formed partnerships with automotive manufacturers SAIC Maxus Automotive Co., Ltd., and Dongfeng Motor Corp. to conduct research into the use of autonomous vans in its logistics business.
KKR has led a US$200 million series C round in Shenzhen Suishou Technology Co., a Chinese personal finance management platform, as part of the start-up’s series C round.
Hong Kong X Technology Fund, backed by Sequoia Capital China-led Hong Kong X-Tech Start-up Platform, has co-led a US$9.5 million funding round in Efinix, a U.S.-based start-up developing programmable product platforms and technology.
Chinese e-commerce giant JD.com Inc. is partnering with U.S. technology firm Nvidia Corp. to deploy one million logistics drones in China over the next five years.
Chinese rollable display company Royole Corp has raised US$800 million in a series D financing round to support research and development and ramp up production and sales.
Chinese Internet giant Alibaba Group Holding Ltd. has agreed to make an additional investment of RMB5.3 billion (US$807 million) to increase its ownership of Cainiao Network and to become a controlling shareholder of its logistics services affiliate.
Venture capitalists are throwing money at China’s cashier-free convenience stores. But will they actually make money, or learn once again that retail, even tech-driven retail, is a brutal business of low margins, low barriers to entry and high fixed costs?
Chinese investment firms China Media Capital and AlphaX Partners have led a RMB550 million (US$83 million) new funding round in Gaosi Education, an online-offline K-12 education company listed on China’s New Third Board.
Legend Capital and Zhongjinqichen, a healthcare, technology and consumer-focused private equity fund under China International Capital Co., Ltd have lead a RMB250 million (US$38 million) series B round in Bellen, a Chinese medical contract research organization (CRO).
Chinese biopharmaceutical company Zai Lab Ltd., backed by Chinese venture capital firms including Advantech, OrbiMed Asia Partners and Qiming Venture Partners, has completed an initial public offering on the NASDAQ in New York, raising approximately US$150 million in total.
Qiming Venture Partners has led a RMB120 million (US$18 million) series B round in Infervision, a Chinese artificial intelligence start-up developing medical imaging technology.
U.S. investment firm Tiger Global Management LLC and China’s Genesis Capital have led a US$230 million series C+ round in MissFresh, a Chinese fresh produce e-commerce platform in China backed by Tencent Holdings and other investors.
Taiwanese electric scooter maker Gogoro has raised a US$300 million series C round from Singapore’s state investment firm Temasek Holdings, London-based Generation Investment Management, Japan’s Sumitomo Corp and French electric utility company Engie.
Chinese venture capital firm Fosun RZ Capital has led a RMB150 million (US$23 million) series A+ round in Zhizhangyi, a start-up developing Internet security products for smartphones.
Chinese logistics services provider Best Inc., backed by Chinese Internet giant Alibaba Group Holding Ltd., has cut its New York Stock Exchange IPO by half due to tepid investor demand.