American seed accelerator Y Combinator recently announced its China plans and appointed Baidu’s former COO Lu Qi as its CEO, according to a Chinese media report.
GGV Capital Seeks To Raise Seven Funds Targeting $1.88 Billion
Venture capital firm GGV Capital is looking to raise seven new funds targeting total fundraising of US$1.88 billion, according to a security filing dated August 13.
Alibaba Bought Stake In Turkish E-commerce Platform Trendyol At $750M Valuation
Chinese e-commerce Alibaba Group Holding Ltd. has acquired a majority stake in Turkish e-commerce platform Trendyol at an enterprise value of at least US$750 million, according to a U.S. media report citing insiders.
China Huarong Expects Profit Decline Amid Former Chief Lai Xiaomin’s Corruption Investigation
China Huarong Asset Management Co, one of China’s big four state asset management companies (AMC), is expecting a significant profit drop for the first half this year, it said in a profit warning yesterday.
Hillhouse Capital, General Atlantic Lead $120M Series C Round In Chinese Co-working Space Mydream+
Hillhouse Capital has joined General Atlantic to lead a US$120 million series C round in Chinese co-working space Mydream+.
Tencent-backed Q&A Platform Zhihu Raises $270M Series E Round
Zhihu, a question-and-answer knowledge sharing platform similar to Quora, has raised a US$270 million series E round, announced by Zhou Yuan, founder and CEO of Zhihu, through video at today’s press conference in Beijing.
Jack Ma-Backed Yunfeng Capital Completes $2.5B Fundraising
Yunfeng Capital, co-founded by Alibaba’s founder Jack Ma has raised US$2.5 billion for its new fund, according to a security filing dated August 3 with the U.S. Securities and Exchange Commission.
China’s Tsinghua University Designs Multilayer Graphene Epidermal Electronic Skin
A scientist from China’s Tsinghua University has developed a graphene tattoo-like electronic skin that could be used as biological sensor for medical applications.
SBCVC, SenseTime Co-Lead $199M Series D Round In Video Technology Firm Moviebook
SB China Venture Capital (SBCVC) and Chinese artificial intelligence company SenseTime have co-lead a RMB1.36 billion (US$199 million) series D round in video technology start-up Beijing Moviebook Technology Corp., Ltd.
Sequoia Capital China, Boyu Capital Lead $200M Series D Round In Travel Booking Platform Klook
Sequoia Capital China and Boyu Capital have led a US$200 million series D round in Klook, a Hong Kong-based full-service in-destination booking platform.
China’s Ping An Bank Sets Up Subsidiary To Manage Debt-To-Equity Swaps
China’s Ping An Bank Co., Ltd. announced that it will set up a subsidiary targeting to raise RMB10 billion (US$1.46 billion) before 2020 to focus on debt-to-equity swap deals, according to a security filing.
Tencent Leads $50M Pre-A Round In Chinese AI Chip Maker Suiyuan Technology
Tencent Holdings Ltd has led a RMB340 million (US$50 million) pre-A round in Suiyuan Technology, a Chinese artificial intelligence start-up developing cloud-based deep learning chips for AI training platforms.
Tencent-Backed Business Service Provider Weimob Files For Hong Kong IPO
Tencent-backed Chinese cloud-based commerce and marketing solutions provider Weimob Inc. has filed for an initial public offering in Hong Kong, according to its IPO prospectus.
Long Hill Capital Sees Opportunities In China’s Underserved Healthcare Sector
To tackle China’s structural shortage of quality healthcare services, technology and innovation can play an important role beside regulatory reform, Jiang Xiaodong, managing partner of Chinese venture firm Long Hill Capital, told China Money Network.
Didi Invests $1B In Its Auto Solution Platform Xiaoju Automobile Solutions
Chinese ride-hailing service provider Didi Chuxing said today it will invest US$1 billion into its auto solutions platform Xiaoju Automobile Solutions Co.
Gaorong Capital, CMB International Co-Lead $26M Series A In Chinese AI Start-Up Tianrang
Chinese venture capital firm Gaorong Capital has joined CMB International to co-lead a RMB180 million (US$26 million) in Chinese artificial intelligence start-up Tianrang.
Google Reportedly In Talks With Tencent And Inspur To Provide Cloud Service In China
American tech giant Google is reportedly in talks with Tencent Holdings Ltd. and Chinese cloud computing service provider Inspur Group and other Chinese companies to bring its Google cloud services to mainland China, according to media reports citing insiders.
Decheng Capital Leads $30M Series C Round In China’s Impact Therapeutics
Chinese investment firm Decheng Capital has led a US$30 million series C round in Nanjing-based pharmaceutical firm Impact Therapeutics.
Chinese Private Space Start-up LandSpace To Launch First Rocket This Year
Beijing-based private space launch company LandSpace announced plans to launch its first rocket into orbit in the last quarter this year, to become China’s first private rocket to carry out commercial launch mission.
Google Reportedly Develops Censored Search Engine To Return China
US search engine giant Google reportedly plans to return China by developing a censored engine that will comply with Chinese law, according to media reports citing insiders.
Private Equity Firm CVC Invests $255M In Chinese Toll Road Operator RKE
Luxembourg-headquartered private equity fund CVC announced that its CVC Asia Fund IV has entered into binding agreements to invest HK$2 billion (US$255 million) of new capital for 25% in RKE International Holdings Limited, a toll road operator in China.
China Focused Blank Check Investment Firm TKK Symphony Files For $200M US IPO
TKK Symphony Acquisition Corporation, a China-focused blank check company founded by Sing Wang, a former TPG partner, has filed for U.S. initial public offering to raise US$200 million.
Primavera Capital, Morningside Venture Capital Co-lead $587M Series B+ Round In Xiaopeng Motors
Chinese electric vehicle maker Xiaopeng Motors announced that it has raised a RMB4 billion (US$587 million) series B+ round led by Chinese investment firm Primavera Capital Group, Morningside Venture Capital and its founder He Xiaopeng.
Ping An Capital Joins $2B Funding Round In Southeast Asia’s Ride-hailing Firm Grab
Didi-backed ride-hailing platform Grab Holdings Inc. (Grab) announced that it has raised US$2 billion for its current round of financing.
Hillhouse Capital, Decheng Capital Lead $60M Series B Round In US DNA Sequencing Platform Developer Omniome
Hillhouse Capital and Chinese healthcare-focused investment firm Decheng Capital have led a US$60 million series B found in San Diego-based DNA sequencing platform developer Omniome, Inc.
Legend Capital Joins China Renaissance To Lead $293M Investment In Chinese Diagnostics Medical Corporation
Chinese private equity firm Legend Capital has joined China Renaissance’s healthcare fund to co-lead an investment worth nearly RMB2 billion (US$293 million) in Chinese Diagnostics Medical Corporation.
Alibaba’s Ele.me Rumored To Seek $3B In Fresh Capital To Finance Market Share Battle With Rivals
Alibaba’s food delivery service Ele.me is reportedly seeking a US$3 billion new funding round to finance an increasingly fierce market share battle with rival Meituan Dianping and new comer Didi Waimai, according to Chinese media reports citing insiders.
GLP, Rainbow Capital Lead $150M Series C Round In B2B Petroleum Platform 51zhaoyou.com
Private equity firm Rainbow Capital and logistics solution provider GLP have led a US$150 million series C round in 51zhaoyou.com, a business-to-business petroleum e-commerce platform.
Andrew Ng’s Landing.ai Partners With Zoomlion To Empower China’s Agricultural Manufacturing
After applying artificial intelligence in electronics manufacturing, Andrew Ng, former chief scientist at Baidu and co-founder of the Google Brain, now wants to empower China’s agriculture sector with AI.
Tencent To Reportedly Develop AI Devices In A Joint Venture With Samsung
China’s social media giant Tencent Holdings Ltd. has joined forces with Korean smartphone maker Samsung Electronics to push artificial intelligence-powered devices, according to Korean media insiders.
Alibaba, Tencent Invest $53M In Chinese TV Show Producer Canxing
Chinese tech giants Alibaba Group Holding and Tencent Holdings Ltd have invested in television show producer Shanghai Canxing Cultural and Broadcast Company Ltd., according to a security filing.