China’s Tianqi Lithium Corporation is reportedly nearing a deal to buy a 24% stake in Chile’s Sociedad Quimica Y Minera (SQM) at US$4.3 billion, one of the world’s largest lithium producers. Lithium is a critical element in the production of rechargeable batteries, including for cars.
JPMorgan Chase & Co. has announced that it will assume a majority stake of its Chinese mutual-fund management joint venture by raising its holding to 51% from 49% currently after Beijing recently relaxed its rules for foreign ownership of financial firms.
Tom Zhang, former engineering partner at Google Ventures, has joined Sinovation Ventures, a Chinese VC firm co-founded by former head of Google China Kai-Fu Lee, as chief data scientist.
Xiaomi-backed Chunmi Electronics Technology Co., Ltd., a rice cooker and kitchen appliance maker, has completed a series C round of financing led by Guangkong Zhongying Capital. No financial details have not been disclosed.
Xiyun International, a Chinese group meal catering company, has raised US$200 million in a series A round of funding from Ant Financial, CDH Investment and Koubei, a local commerce portal under Alibaba and Ant Financial.
Shenzhen-listed real estate developer Tahoe Group is planning to to establish a RMB20 billion (US$3.1 billion) mergers and acquisition (M&A) fund focused on real estate projects, according to a stock exchange filing.
NIO Capital, a private equity fund established by Chinese electric car company NIO, is close to completing the first round of a US$500 million offshore fund that will invest in new automotive technologies, according to media reports.
InfraRed NF, a Hong Kong-based real estate investment fund, has paid US$50 million for a 90% stake in Hong Kong self-storage provider RedBox Storage Limited, according to an announcement from InfraRed NF.
Chinese social media-based e-commerce firm Pinduoduo is reported to have raised a US$3 billion investment round led by Tencent Holdings, at a valuation of US$15 billion.
New York-based investment firm Blackstone Group LP has announced that Yan Yan, former president of Chinese office real-estate developer Soho China, has joined as a managing director in its real estate team in Asia.
With its announced 5% strategic investment in France’s game developer Ubisoft, Chinese Internet giant Tencent has solidified its position as one of the world’s leading purveyors of video games.
China’s online education platform 17Zuoye, owned by Sunny Education Inc., continues to be a magnet for investors. The latest investment is a US$250 million Series E round in led by Singaporean investment fund Temasek. The deal follows a $200 million investment by AI-driven news aggregation company Toutiao on March 7.
Chinese medical cosmetology mobile app SoYoung has reportedly completed a funding round worth hundreds of millions of RMB led by Orchid Asia, only 80 days after its last fundraising round of US$60 million.
Chinese online education service Sunlands Online Education Group has filed an applications for an initial public offering of up to US$300 million with the U.S. Securities and Exchange Commission.
Chinese online apartment rental platform Danke Apartment has raise US$100 million in a B round led by CMC Capital and Banyan Capital, with proceeds used to fund the company’s expansion.
Temasek-backed Fullerton Fund Management has announced that its wholly foreign-owned enterprise Fullerton Investment Management (Shanghai) Co., Ltd., has launched its first private fund in China.
Chinese online retailer JD.com, Inc. has announced a US$2.5 billion funding round for its logistics subsidiary, JD Logistics. The funding likely values the company at around US$13.5 billion ahead of an anticipated initial public offering later this year.
Singapore-based global logistics company GLP has established a China value-add fund worth RMB10 billion (US$1.6 billion) with an investment from NYSE-listed China Life Insurance Company Ltd.
Chinese investment banking firm CEC Capital Group has announced the promotion of John Song, Gang Li and Zack Zhang to partner, as the firm aims to broaden and deepen its coverage to a new class of rising Chinese enterprises.
China and the United Kingdom have agreed to set up a bilateral investment fund with an initial target of US$1 billion to support projects under the Belt and Road Initiative, according to a statement released following an annual high-level dialogue between the two nations.
Real estate private equity firm Gaw Capital Partners acted as co-capital sponsor in the first close of US$550 million for a China outlet mall investment fund. The ERES APAC II – China Outlet Mall Fund is backed by Allianz, Gaw Capital Partners, and TIAA General Account, a Frankfurt-based German asset management company, among others.
Shunwei Capital, Oriza Holdings and Puhua Capital have led a RMB500 million (US$75 million) series B round in CloudWalk Technology Co., Ltd., an artificial intelligence facial recognition firm whose technology is widely applied in the financial, public security and aviation sectors. Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group participated in the new funding round. Cloudwalk also received RMB2 billion (US$301 million) from the government of Guangzhou to set up …
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.
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.
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.
Financing of Chinese co-working space industry continues to accelerate as leading players battle for market share.
Fosun Kinzon Capital, the venture capital arm of Shanghai-based conglomerate Fosun Group, has changed its name to Fosun RZ Capital.
Venture firm Matrix Partners China has joined a RMB100 million (US$14.5 million) series A financing round in TianYi Research Institute, a Changsha, Hunan province-based commercial microsatellite start-up, according to Chinese media reports.
Beijing-based third-party payment platform Lakala Payment Co., Ltd., backed by Chinese Legend Holdings, is planning for listing on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange, after the company’s planned back-door listing via a reverse merger with Shanghai-listed Tibet Tourism failed to materialize.
The enormous growth in the number of Chinese venture funds, against the backdrop of a cooling investment market, could potentially bring disastrous impact to venture investing and start-ups in the country, a senior Chinese official warned.
Chinese conglomerate HNA Group has agreed to acquire an approximate 25% stake in Hilton Worldwide Holdings Inc. from the Blackstone Group LP for about US$6.5 billion, after the global private equity giant realized several exits this year by selling assets to Chinese buyers.