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Jillian Yue

Ping An Global Voyager Fund Invests In European Fintech Firm 10X Future Technologies

Ping An Global Voyager Fund, a US$1 billion overseas investment fund launched by Ping An Insurance Group Co of China Ltd, has made its first investment in European fintech company 10x Future Technologies. Ping An Global Voyager Fund and strategy consultancy Oliver Wyman led a £34 million (US$40 million) series A round in 10x Future, which is founded by former Barclays CEO Antony Jenkins and focuses on providing holistic technology solutions to banks. “10x Future Technologies and Ping An share …

JD.Com, Central Group To Invest $500M For E-Commerce And Fintech JVs In Thailand

JD.com Inc. and its financial technology unit JD Finance have agreed to team up with Thailand’s largest retail conglomerate Central Group to invest an aggregate of up to US$500 million to establish two joint ventures in Thailand covering e-commerce and fintech services, in the Chinese e-commerce giant’s major foray into the Thai market.

Warburg Pincus Acquires 49% Of Fortune SG From Societe Generale

Warburg Pincus has acquired a 49% stake in asset management company Fortune SG from Societe Generale. The deal sees Societe Generale exit from Fortune, a joint venture it established in 2003 in partnership with a unit of Baosteel Group, creating one of China’s first sino-foreign joint venture fund management companies. No financial details were disclosed.

Sequoia China Leads $240M Round In Genomic Big Data Platform WuXi NextCODE

WuXi NextCODE, a genomic big data platform resulted from a merger between Chinese contract research outsourcing provider WuXi AppTec’s genome center and NextCODE, has raised a US$240 million series B financing led by Sequoia Capital China. The round is among the largest venture financing deals for a start-up in the healthcare sector in China.

China Officially Bans Initial Coin Offering

The People’s Bank of China and six other state regulators today jointly announced a complete ban on initial coin offerings (ICOs) in China, in perhaps the harshest measures ever taken against a new fundraising activity.

China Aims To Lead The World In AI, Core AI Sector To Reach RMB1 Trillion By 2030

China’s State Council issued a “New Generation Artificial Intelligence Development Plan” yesterday, outlining how the country will create the world’s leading AI industry, with a target value of RMB1 trillion (US$148 billion) by 2030. In the document, Beijing spelled out three steps to reach its goal of turning China Inc. into China AI. The first step is for China’s AI industry to maintain an advanced position in terms of AI technology and applications, and for the AI sector to become …