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.
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 …
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.
Financing of Chinese co-working space industry continues to accelerate as leading players battle for market share.
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.
Chinese smart wristband maker Huami Technology, which makes the Mi Band fitness tracker for Xiaomi Inc. as a manufacturing partner, is reportedly seeking a new round of financing on a US$1 billion valuation.
Qiming Venture Partners has invested in LIH Investment & Management, a Beijing-based rehabilitation medical institution, according to a company announcement. Financial details were not disclosed.
Tsinghua Holdings has led a RMB150 million (US$23 million) series B round of financing in Tsinova, a Chinese smart bicycle start-up, the company announced.
Shunwei Capital and Northern Light Venture Capital have co-led a RMB100 million (US$15 million) series B round in Shenma Jinrong, an e-commerce start-up focused on credit-driven consumption in China’s rural areas.
PCCW Ltd and Tencent Holdings Ltd have made a strategic investment in STX Entertainment, a Hollywood film studio and distributor backed by Hony Capital and TPG’s growth unit, says a company announcement.
Kelaile, a Chinese big data marketing service provider, has completed a RMB110 million (US$16.6 million) series B round in July, according to Chinese media reports.
CDF Capital has led a RMB80 million (US$12 million) series A round of financing in Touzhijia.com, a P2P (peer-to-peer) online lending platform affiliated with Yingcan Group, according to a company announcement.
Luye Pharma Group Ltd., backed by CITIC Private Equity, has agreed to acquire the advanced transdermal drug delivery systems business from Swiss-based pharmaceutical company Acino for €245 million, according to a company announcement.
China Investment Corporation has participated in a US$181 million series C financing round in Unity Technologies, a San Francisco-based video game engine maker.
Canadian private equity firm Onex Corporation and Baring Private Equity Asia have agreed to acquire the Intellectual Property & Science business (IP&S) from Thomson Reuters for US$3.55 billion, says a company announcement.
China Growth Capital has led a US$10 million series B+ round in Juzi Entertainment, a new media content producer, with participation from Qihoo 360 Technology Co. Ltd.
Chinese private equity firm Yung Park has led a RMB200 million (US$30 million) series B round of financing in Nash Work, a Beijing-based shared workspace start-up.
CVC Capital Partners has offered to buy out Nirvana Asia Ltd., Asia’s largest funeral-services provider by revenue, for US$1.1 billion, says a company announcement.
China Everbright Ltd. has made an undisclosed strategic investment in Hope Education, which is affiliated with Chinese animal feed firm New Hope Group Co., according to an announcement.
CMC Capital has led a RMB100 million (US$15 million) series B+ round in Yitiao, an online video content producer and e-commerce start-up, according to Chinese media reports. Launched in 2014, Yitiao initially began as an online video producer, publishing lifestyle video series on Youku, Tuduo and other video platforms. The company started to sell lifestyle products two months ago in order to generate more revenue. Yitiao claims to have active daily users of one million and expects to expand its …
Beijing-based corporate cloud communication service provider Yuntongxun.com has completed US$70 million series C round of financing led by exiting investor Sequoia Capital, with participation from TBP Capital.
Chinese state-owned real estate conglomerate Poly Group has invested US$400 million in Didi Chuxing as the country’s largest ride share company’s latest US$7.3 billion financing round announced last week.
LeVR, an virtual reality (VR) affiliate of Chinese internet company LeEco, is raising a new round of financing of over RMB300 million (US$46 million), according to Chinese media reports.
Mango TV, the online video platform of Hunan Satellite TV, has completed a RMB1.5 billion (US$228 million) new funding round with a post-money valuation of RMB13.5 billion (US$2 billion), according to Caixin Media.
IDG Capital Partners had led a US$60 million new strategic financing round in U.S. payment app Circle, with an aim to help the company expand in China.
Asian private equity firm Navis Capital Partners has invested an undisclosed amount in French ultra-luxury furniture brand Christian Liaigre Group.
China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month.
WME-IMG and a Sequoia Capital China-led consortium has formed a new China-based joint venture to enhance and accelerate the sports, events, media and fashion giant’s growth in the country.
The outcome seems clear for a bidding war to take NASDAQ-listed iKang Healthcare Group, Inc. private ten months after company founder proposed a go-private proposal.
A unit of Singapore investment company Temasek Holdings has launched the issuance of US$500 million listed bonds backed by a portfolio of 34 private equity investments valued at US$1.1 billion, including funds managed by the Blackstone Group, KKR, TPG Capital and Warburg Pincus.
Yunfeng Capital has joined a bidding war to take NASDAQ-listed Chinese health check up firm iKang Healthcare Group, Inc. private, proposing an all-cash deal and positioning itself against two earlier rival bids.