Blue Ocean Capital Group, a Chinese private equity investment firm specializing in healthcare, TMT and innovative financial services, has sold its US$250 million investment in China Cord Blood Corporation (CCBC) to a unit sponsored by SanPower Group, a Chinese conglomerate.
Chinese Internet firm Tencent Holdings Ltd. has led a US$1.1 billion new funding round in Ola, an Indian ride sharing company that boasts 800,000 drivers in 110 cities in the world’s second most populous country.
Yao Capital, backed by former NBA player Yao Ming, has led a RMB500 million (US$75 million) series A round in Doing Now, a Beijing-based sports training company.
KKR has led a US$200 million series C round in Shenzhen Suishou Technology Co., a Chinese personal finance management platform, as part of the start-up’s series C round.
Chinese rollable display company Royole Corp has raised US$800 million in a series D financing round to support research and development and ramp up production and sales.
China Renaissance Group has appointed Ke Wei, formerly a managing director at global private equity firm General Atlantic, as partner of its US$3 billion New Economy Fund. Wei will also become a member of the investment committee, and report to Fan Bao, chairman and CEO of China Renaissance Group, the firm announced.
YH Global, a Chinese supply chain management and logistics company, has raised RMB1.2 billion (US$182 million) in a series A round led by Chinese private equity firms Yonghua Capital and Co-Energy Finance. The round, participated in by Stone Capital, Tangrong Capital and Shenzhen Grandland Group Co., Ltd., values the company at US$1 billion, according to local media reports. China Money Network could not contact YH Global to confirm the facts prior to publication.
U.S. investment firm Tiger Global Management LLC and China’s Genesis Capital have led a US$230 million series C+ round in MissFresh, a Chinese fresh produce e-commerce platform in China backed by Tencent Holdings and other investors.
Taiwanese electric scooter maker Gogoro has raised a US$300 million series C round from Singapore’s state investment firm Temasek Holdings, London-based Generation Investment Management, Japan’s Sumitomo Corp and French electric utility company Engie.
Chinese logistics services provider Best Inc., backed by Chinese Internet giant Alibaba Group Holding Ltd., has cut its New York Stock Exchange IPO by half due to tepid investor demand.
Private equity firm Warburg Pincus has led a US$180 million series D round in D&J Industrial Property China Investment Ltd., a Chinese business park and suburban office developer.
SDIC Fund Management Company Ltd., a private equity firm majority owned by China’s State Development & Investment Corporation (SDIC), as well as an investment arm under China Life Insurance Co., Ltd., have led a RMB3.3 billion (US$500 million) series A round in Shanghai United Imaging Healthcare, a medical imaging equipment developer.
SoftBank Vision Fund, a US$93 billion investment fund backed by SoftBank Group Corp with a significant commitment from Saudi Arabia’s sovereign wealth fund, is considering a US$500 million investment in the Hong Kong initial public offering of ZhongAn Online Property and Casualty Insurance Co., Ltd. ZhongAn Online is China’s first Internet-only insurer jointly established by Alibaba Group, Tencent Holdings and Ping An Insurance in 2013. The company is geared toward raising US$1.5 billion in an IPO in Hong Kong at …
Asian private equity fund-of-funds manager Asia Alternatives has reached a final close of over US$1.8 billion for its fifth fund, Asia Alternatives Capital Partners V, LP, and several other vehicles. The new funds will focus on building a diversified Asian private equity portfolio with an emphasis on top-performing local Asian fund managers, the firm said today in an announcement. Asia Alternatives Capital Partners V, along with its parallel fund Asia Alternatives Capital Partners V (ERISA), LP, closed on US$1.515 billion …
JD Capital, one of the largest domestic Chinese private equity funds with RMB31.45 billion (US$4.8 billion) under management, is among 83 private investment funds named by the China Securities Regulatory Commission as breaking certain regulatory guidelines in a recent disciplinary procedure.
Warburg Pincus has acquired a 49% stake in asset management company Fortune SG from Societe Generale. The deal sees Societe Generale exit from Fortune, a joint venture it established in 2003 in partnership with a unit of Baosteel Group, creating one of China’s first sino-foreign joint venture fund management companies. No financial details were disclosed.
International Finance Corp. (IFC), a member of the World Bank Group, is considering an investment of up to US$25 million in Genbridge Capital’s debut vehicle, according to a regulatory filing by the firm. Genbridge Capital is a Chinese investment firm founded by former members of the mergers and acquisitions division of JD.com Inc.
Fosun RZ Capital, the venture capital unit of conglomerate Fosun Group, formerly known as Fosun Kinzon Capital, has led a RMB50 million (US$7.7 million) series A financing round in Shenzhen-based indoor positioning service provider Shunwei.
Healthcare-dedicated investment firm OrbiMed has closed its third Asia-focused private equity fund, OrbiMed Asia Partners III, LP, with approximately US$551 million in capital commitments.
Investment firm Jeneration Capital Management said that Tony Zhang, formerly head of Asia at Coatue Management LLC, has joined the firm as a partner. Zhang will join Jeneration Capital’s team of buy-side professionals focused on direct private investments.
Warburg Pincus has committed a US$183 million follow-on investment into Nova Property Investment Co. Ltd, a Chinese rental apartment operator and asset manager. The investment follows Warburg’s initial US$170 million capital injection into Nova in 2015 to help the firm build up its portfolio.
TPG Capital Asia has acquired a majority stake in Taiwan-based clinical trial services provider OPC Holding Company. As part of the transaction, OPC’s founder Jason Chen will transition to the role of chairman. Additional terms of the transaction were not disclosed.
We just caught someone swimming naked. Beijing-based e-book mobile app developer Zhangyue publicly announced in 2016 that it had raised a financing round of US$100 million at a valuation of US$1 billion. It was, the company said, a genuine unicorn.
Best Inc., a logistic service provider backed by Alibaba Group, has revised up the amount of capital it is seeking to raise in an initial public offering in New York to US$1 billion, from a previous target of US$750 million in June.
Chinese private equity firm Yunfeng Capital, co-founded by Alibaba’s chief Jack Ma, has led a RMB190 million (US$29 million) series C round in Kaistart, a Chinese restaurant and hospitality industry-focused crowdfunding platform. Chinese investment firm Certain Capital also participated.
Arrail Dental, a Chinese private dental service provider with nearly 100 private dental clinics in the country, has raised a US$90 million series D round from Goldman Sachs and Chinese private equity firm Hillhouse Capital Group.
Alibaba Group Holding Ltd. and Yunfeng Capital, an investment vehicle controlled by Alibaba founder Jack Ma, have made a RMB1 billion (US$140 million) strategic investment in enterprise cloud services provider Qiniuyun to strengthen the Chinese e-commerce giant’s own cloud services business.
Chinese Internet giant Baidu Inc. and China Life Insurance Co., Ltd will launch a RMB7 billion (US$1 billion) private equity fund targeting investment opportunities in the Internet, artificial intelligence, online finance and mobility sectors.
Chinese investment firm Puji Capital has launched Puji Films to invest in the Chinese and Hollywood film industries. Puji Capital also announced Puji Film’s first investment, in Mandalay Endurance Media Ventures (MEMV).
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.