Two suggestions for distressed debt investors seeking opportunities in China: look beyond the loan books, and work with local asset management companies, according to Jason Bedford, executive director of Asian financials research at UBS, who has studied China’s distressed debt sector for years.
China continues to dominate the fintech landscape, accounting for 5 of the top 10 fintech companies globally in 2017, according to a report by KPMG and H2 Ventures, which compiles a list of the year’s best fintech innovators from around the world.
Shares of Yixin Group Ltd., China’s largest online automobile financing platform, got off to a fast start on its trading debut in Hong Kong on Thursday, jumping over 30% in early trade, before settling lower later in the day.
DCM Ventures has led a US$75 million series C round in Maimai.cn, a Chinese business and career-oriented social networking company, the company announced.
Shenzhen-headquartered voice recognition firm SpeakIn Technologies Co.,Ltd. has raised tens of millions of RMB in a series A2 round funding led by Yuanchuang Capital, after raising tens of millions of RMB from a series A1 round led by IDG Capital in May, the company announced.
Yidian Zixun, a Chinese personalized news feed mobile app backed by New York-listed Phoenix New Media, has finalized a US$112.1 million financing round from Long De Cheng Zhang Culture Communication (Tianjin) Co., Ltd., a Chinese government guidance fund, and two unnamed investors.
Shenzhen Guozhong Capital Venture Management Co, Ltd., which manages a government guided fund directly funded by China’s Ministry of Finance, has invested hundreds of millions of RMB in a series B round for medical tech company 1MData.com, according to local media reports.
President Donald Trump may be in China trying to drum up Chinese investment in the U.S. But back in Washington, lawmakers have unveiled a new set of proposed laws designed to limit Chinese investment in U.S. companies, especially in critical high tech sectors such as artificial intelligence, robotics and aerospace. On Wednesday, U.S. Senator John Cornyn of Texas and Representative Robert Pittenger of North Carolina, together with other bipartisan lawmakers, introduced a new bill called the Foreign Investment Risk Review Modernization …
China Investment Corporation, a sovereign wealth fund responsible for managing part of China’s foreign exchange reserves, has partnered with U.S. investment giant Goldman Sachs to establish a US$5 billion China-U.S. industrial fund during President Trump’s visit to Beijing, according a CIC announcement on WeChat on Nov. 9.
China Money Network’s Special Situations Team brings you the first of our new “Industry Specialist” series, sitting down with Andrew Brown, partner for Macro and Strategy at ShoreVest Capital Partners, Ltd. Hong Kong to seek his opinions on the growth of China’s distressed debt market and the rewards and risks it offers investors in the region. ShoreVest Partners is an institutional private investment firm specializing in Chinese distressed debt and structured credit. The ShoreVest team has managed US$1.6 billion of distressed …
Chinese tourism will be Airbnb Inc.’s largest source of business by 2020, predicts Nathan Blecharczyk, Airbnbn’s co-founder, who was recently named chairman of Airbnb China, also known as Aibiying, following the departure of Hong Ge. To meet this growth, Airbnb will expand its presence in China by providing more local services and increasing local hiring and projects.
Chinese news app Toutiao appears to be the latest Chinese media platform looking to get into financial technology. According to local news reports, the five-year-old company with a valuation estimated at US$20 billion is looking to acquire an insurance broker in China to break into the insurance business, but without having go through the time consuming process of obtaining an insurance license.
Yixue Education, a Chinese K12 online education company, has raised RMB270 million (US$41 million) in an angel round from SIG, Nokia Growth Partners, New Oriental Education and Technology Group Inc. and Greenwood Investment, local media reports.
China’s artificial intelligence chip maker Cambricon Technologies Corporation Ltd. aims to have one billion smart devices using its AI processor and own 30% of China’s high-performance AI chip market in three years, the company said at its first product launch in Beijing on Monday.
Chinese facial recognition start-up Face++ has announced that Andrew Chi-Chih Yao, the first Chinese recipient of the Turing Award, will join the firm’s newly established academic committee as principal advisor.
Tencent Holdings Limited has invested tens of millions of RMB in a series A round in Shenzhen-based GJS Robot, a start-up specializing in making customized fighting robots designed for robot combat competitions, local media reports.
International investors have been buying up China’s FinTech IPO’s as quickly as they can come to market. After all, one and a half billion people with the ability to borrow money with the click of a mobile app has a lot of appeal.
Chinese facial recognition firm Face++ has raised US$460 million in a series C round led by China State-Owned Assets Venture Investment Fund, with Ant Financial and Foxconn Technology Group participating, setting a new VC financing record for AI companies globally.
DHVC, or Danhua Capital, a California-based venture capital fund founded by Stanford physics professor Shoucheng Zhang, has led a RMB100 million (US$15 million) series B round in Fclassroom, an artificial intelligence-powered education firm in China.
Chinese artificial intelligence-powered translation start-up New Tranx Information Technology (Beijing) Co. has received a RMB50 million (US$7.5 million) pre-A round from Kaitai Capital and Bojiang Capital Management Group.
Baidu, Aplus Capital, Frees Fund and Linekong Interactive Group, a Hong Kong-listed company, jointly invested about RMB100 million (US$15 million) in a series A round in a Beijing-based start-up SoundAI in September, according to media reports and confirmed by both the company and Frees.
Chinese artificial intelligence company, iFlytek Co Ltd., best known for its voice-recognition technology, will set up a RMB1.024 billion (US$150 million) fund to support an ecosystem of software and hardware startups across China. The move is part of the company’s push to accelerate the use of AI in consumer electronics, healthcare and other industries. The announcement, made at the company’s first Developer Festival at its Hefei headquarter on October 24, and confirmed via email to China Money Network, comes after …
Ant Financial and Samsung Group have led a US$40 million series A+ round in Beijing-based artificial intelligence start-up DeePhi Tech.
Tencent Holdings Ltd. has led a US$40 million round in Toronto-based storytelling platform Wattpad, as the Chinese social media and gaming giant continues aggressively investing in start-ups around the world that can provide fresh content for its various mobile apps such as Wechat. Founded in 2006 by Allen Lau and Ivan Yuen, Wattpad allows users to post stories via its website or mobile app and interact with readers through comments. The platform has a monthly audience of over 60 million …
For the Chinese technology and venture capital community, Chinese President Xi Jinping’s speech opening the 19th congress of the Chinese communist party was everything it hoped for. The key words “artificial intelligence”, “big data” and “innovation” were highlighted and emphasized repeatedly in the otherwise laborious three-hour address.
A cross-border investment fund co-established by Sequoia Capital China and CBC Capital has invested in state-owned company China Electronics Corporation’s data subsidiary as a strategic investor to help the firm set up a joint venture with IBM to provide IBM’s Watson Health solutions in China.
Foxconn Technology Group and venture firm IDG Capital are reportedly raising a RMB10 billion (US$1.5 billion) fund to jointly invest in automotive technologies ranging from autonomous driving to car battery development.
Chinese investors overseas just can’t seem to get a break. First, the Chinese government strengthened its grip on overseas deals to slow capital outflows. Now, the U.S. government under president Donald Trump appears more protectionist than ever, blocking a growing list of Chinese investments in the U.S. in the name of protecting American business and security interests.
Chinese investors continue pouring money into autonomous driving technology in the hope of discovering the next Mobileye. In the latest example, Hangzhou-based venture capital firm Lanting Capital has led a series A round in Chinese autonomous driving technology firm Motovis.
In a bid to establish itself as a leading player in global technology innovation, Chinese Internet giant Alibaba Group Holding Ltd., today announced plans to spend up to US$15 billion on research and development, establish seven research labs and recruit 100 top scientist worldwide over a three-year period.
New York-listed Chinese educational company New Oriental Education & Technology Group Inc. will establish funds worth a combined US$1.8 billion to invest in education industry start-ups and pursue mergers and acquisitions globally, according to local reports.