Chinese investment and advisory firm RJ Capital Group has teamed up with Shenzhen-based conglomerate Tempus Holdings to launch a new US$300 million investment fund to back companies benefiting from the trend of consumer upgrade in China.
Venture capital deals in China saw a sharp slowdown in July as investors remain cautious in deploying capital to start-ups and companies. A total of 173 venture capital deals were recorded last month, down 21% from June, and 53% from July 2016. A total of US$2.6 billion was raised in July, a decline of 14% month-on-month, and 24% from a year earlier, according to data released by ChinaVenture.
Chinese personalized news recommendation app operator Toutiao is reported to have raised a new funding round of over US$2 billion, led by American private equity firm General Atlantic.
KKR says it has opened an office in Shanghai, marking the firm’s third office in Greater China following Beijing and Hong Kong and its eighth in Asia Pacific. The move highlights the U.S. private equity giant's confidence in the future of the Chinese economy.
Hong Kong-based private equity firm EmergeVest has sold its stake in Jiangsu province-based Chinese apparel supplier J.D. United Manufacturing Corporation Ltd. (JDU) to Taiwan-listed textile company Roo Hsing for US$500 million.
Yuanyu Radio (China) Co., Ltd., a Shanghai-based radio advertising agency, has raised a US$90 million new funding round from Olympus Capital Asia and Singapore's UOB Venture Management.
McDonald's Corporation's China business, now under new ownership of CITIC Ltd. and Carlyle Group, is planning to drive double-digit sales growth in each of the next five years and to increase the number of its restaurants to 4,500 from 2,500 currently.
Ma Weiguo (pictured), a partner at Shenzhen-based Cowin Capital, has left the firm to establish his own private equity firm targeting opportunities in China's new economy.
Gu Sheng Tang, a Guangzhou city-based traditional Chinese medicine clinic franchise, has raised a RMB1.01 billion (US$150 million) series D round from a number of Chinese stated-owned enterprises and financial institutions.
Chinese co-working space operator UrWork says it has completed a RMB1.2 billion (US$179 million) pre-C financing round from a group of Chinese investors, which will help fuel its expansion in China and beyond.
Goldman Sachs Investment Partners has led a series D round in Meican, a Chinese online food ordering platform targeting corporate customers.
Global private equity giant Warburg Pincus is set to acquire a 49% stake in Fortune SG Fund Management Co., Ltd., a Sino-foreign joint venture fund management company, from French banking and financial services firm Societe Generale Group (SG Group).
China First Capital Group Ltd., a Hong Kong Stock exchange-listed education investment group, has announced plans to acquire 54% of the total issued shares of SJW International Co., Ltd., a South Korean online English training company, at the maximum consideration of approximately US$135 million.
Chinese conglomerate Fosun Group and Shanghai Stock Exchange-listed Beijing Sanyuan Foods Co., Ltd. have unveiled plans to acquire French margarine maker St Hubert SAS for EUR625 million (US$733 million).
Chinese private equity firm Hony Capital and Japan's SoftBank Group Corp. have agreed to inject US$500 million into an investment vehicle to operate WeWork Cos.'s China unit and fuel the American co-working giant's expansion throughout China.
The Carlyle Group, a global alternative asset manager, is seeking to raise US$5 billion for its fifth Asia buyout fund, Carlyle Asia Partners V.
China's Didi Chuxing and SoftBank Group Corp. have agreed to invest up to US$2 billion to lead a current financing round in Grab, Southeast Asia's largest ride-hauling operator, in the single largest financing round in the history of Southeast Asia.
Shanghai-based private equity fund Principle Capital has signed a definitive agreement with Camtek Ltd., a NASDAQ-listed Israeli semiconductor component manufacturer, to buy its printed circuit board (PCB) business for US$35 million.
Industrial Innovation Capital Management Co., Ltd., the private equity arm of Industrial Securities, has led a new funding round worth hundreds of millions of RMB in Geneseeq, a Nanjing and Toronto-based start-up focused on genetic sequencing.
Chinese co-working start-up naked Hub, a private equity-backed unit under Chinese resort brand naked, has agreed to merge with Singapore-based peer JustCo. The merger aims to create the largest premium co-working operator in Asia to better compete against WeWork, the world's biggest co-working company, boasting a US$20 billion valuation.
San Francisco-based Leap Motion Inc., a start-up developing motion tracking technology for natural input in virtual and augmented reality, has raised a US$50 million series C round led by clients advised by J.P. Morgan Asset Management.
C-Bridge Capital, a Shanghai-based private equity firm focused on China's healthcare sector, has closed its second healthcare fund, C-Bridge Healthcare Fund II, at a US$400 million hard cap.
Yunfeng Capital, a private equity firm founded by Alibaba's Jack Ma and Chinese entrepreneur David Yu, has announced plans to invest hundreds of millions of RMB in Davost Intelligence, a Beijing-based company specializing in providing business analysis and strategy planning services to the tourism sector.
CITIC Capital Holdings Ltd. has invested around EUR72 million (US$82.5 million) in Formel D, a Germany-based global service provider to the automotive and component supply industry.
Yunnan Metropolitan Construction Investment Group Co., Ltd. (YMCI Group), a state-owned investments entity, has made a RMB500 million (US$73 million) strategic investment in Wukong Zuche, a Beijing-based car rental start-up focused on the tourism sector.
An investor consortium headed by company management and leading Chinese investors including Hopu Investment Management Co. and Hillhouse Capital have agreed to take Singapore-listed Global Logistic Properties (GLP) private in a deal that values the logistic warehouse property firm at approximately S$16 billion (US$11.6 billion).
Warburg Pincus has led a US$60 million series B financing round in Geek+, a Beijing-based logistics robot developer whose technology, similar to Amazon's Kiva robot, is designed to improve automation at warehouses. Existing shareholders including Volcanics Venture also participated in the round, which is the largest single round of fundraising in the logistics robot industry globally to date, says Warburg in an announcement. The new round follows a RMB100 million (US$14 million) series A+ round in Geek+ led by Vertex Venture Holdings Ltd, a wholly-owned subsidiary of Singapore's Temasek Holdings, in March. Founded in 2015, Geek+ provides one-stop intelligent logistics robot solutions enabled by artificial intelligence and robot technologies. Its solutions cover storage, order picking, material handling and parcel sorting. The robot can perform a wide range of functions such as order division and consolidation, intelligent inventory replenishment and products return, SKU correlation analysis, robots routes optimization, automated collision and congestion control, and dynamic shelf optimization. "As the AI technologies are maturing, we are seeing increasing market demand and new applications. In particular, the traditional, capital-intensive and labor-intensive logistics industry provides huge market potential for AI technologies," said Jericho Zhang, principal of Warburg Pincus. "With the rapid development of China's …
Qingdao Ronghai State-Owned Asset Management Company, an investment entity owned by the state-owned asset management office of Licang district in Qingdao city, has led a RMB200 million (US$29 million) series A round in Hairongyi.com, a financial technology start-up backed by Haier Financial Holdings.
China Renaissance Private Equity Fund and Fengshang Capital have led a US$30 million pre-C round in Lianshang, an online business-to-business fabric trading platform.
International Finance Corp. (IFC), a member of the World Bank Group, has led a US$50 million series B round in CompareAsiaGroup, a Hong kong-based online comparison platform for financial, telco and utility products across Asia.
Asian alternative investment management firm PAG and China-focused private equity firm Primavera Capital Group have led a RMB800 million (US$117 million) series C round in Dashu Finance, a Shenzhen-based online lender of unsecured loans to small and micro enterprises that traditionally could not secure funding from banks.