Sophy Yang

Recent news, commentary, and posts by Sophy Yang:

Chinese Karaoke Solutions Provider Thunder Stone Raises $29M

Chinese consumers love karaoke. A company focused on providing audio and video karaoke systems has just raised more money to meet this rising demand. Beijing-based Thunder Stone Technology, a provider of karaoke on-demand systems and solutions, has raised a RMB200 million (US$29 million) series B round led by China Minsheng Investment Group, according to a company announcement.

Race For 5G Deployments Heats Up Across China

China has launched various 5G scale test and application pilot programs, while local governments are setting 5G coverage schedules and accelerating infrastructure construction, as the country races to seize the advantage of 5G technology, according to multiple Chinese media reports.

Chinese Semiconductor Laser Manufacturer Everbright Photonics Raises $22M Series B Round

SDIC Venture Capital, a Chinese state-owned investment holding company, has joined the venture capital fund of Chinese Academy of Sciences, and Suzhou Chengxin Venture Capital to invest RMB150 million (US$22 million) in series B round in Chinese semiconductor laser manufacturer Suzhou Everbright Photonics Co. Ltd, according to Everbright Photonics’s announcement.

Didi Kuaidi, CIC Join $350M Series E Round In GrabTaxi

Singapore-headquartered taxi-booking app GrabTaxi Holdings Pte Ltd has completed US$350 million series E round of financing from China’s Didi Kuaidi, China Investment Corporation, existing investor Coatue Management LLC and others, according to a company announcement. The Southeast Asian company says it will use the proceeds to expand its booking services and invest in technology.

JD.Com, IDG Participate In $174M Round In Shanghai Pharma Start-Up

A six-months-old healthcare O2O (online-to-offline) start-up founded by Shanghai Pharmaceuticals Holding Co., Ltd. has completed RMB1.112 (US$174 million) series A funding with participation from Inc. and IDG Capital Partners, according to a securities filing. Shanghai Pharmaceuticals, listed on the city’s stock exchange, is leading the round, injecting RMB900 million (US$141 million) via a share swap.

Warburg’s Chang Sun Seeks $1B For China Agribusiness Fund

Warburg Pincus’ former head of China and North Asia, Chang Sun, has lunched a private equity firm and is currently seeking to raise US$1 billion to invest in agriculture businesses in China, according to media reports. A representative at Warburg Pincus confirmed that Sun is no longer a managing partner at the firm, but said he would remain as a special limited partner.