Vion Technology Inc., a Chinese artificial intelligence firm specializing in machine vision, has raised a US$20 million series B round from Samsung Electronics, Swiss automation company ABB, Chinese venture firm Tsing Capital and Hong Kong-based investment firm Waterwood.
Canada Pension Plan Investment Board (CPPIB) announced that it had invested HK$1.94 billion (US$248 million) to acquire an interest in Goodman Hong Kong Logistics Partnership (GHKLP), one of Goodman’s flagship logistics partnerships with the largest portfolio of logistics properties in Hong Kong.
The year 2017 will be remembered as a record setter for the Chinese private equity and venture capital industry, as the number of IPO exits secured by PE/VC firms this year almost doubled from a year ago. In fact, the number of IPO exits in 2017 is equals to half of all IPO exits recorded in the six years from 2011 to 2016.
Accenture PLC, a global management consulting and professional services company, has appointed Wei Zhu, formerly managing director of Standard Chartered Private Equity (SCPE), as chairman and geographic unit managing director for Accenture Greater China, effective January 1, 2018.
KKR today announced a newly promoted group of 23 members, which are KKR’s equivalent of partners, and 44 managing directors, effective from January 1, 2018. Two members and five managing directors in Asia Pacific are among the newly anointed top ranks at one of the largest private equity firms in the world with US$153 billion assets under management as of September 30, 2017.
Hong Kong-based real estate private equity firm Gaw Capital Partners and a consortium of partners including Goldman Sachs have won a bid to acquire a retail portfolio comprising 17 shopping centers in Hong Kong from Link Asset Management Ltd for HK$23 billion (US$3 billion).
The child abuse scandal at RYB Education Inc. (NYSE:RYB) reduced its stock price by nearly 40% last week, just three months after the company’s New York Stock Exchange IPO. The collapse has cost the company’s top ten institutional investors, including China’s largest private equity fund Hillhouse Capital and well-known investment management firm Greenwoods Asset Management, a combined US$52 million on paper. But the losses might have been avoided if investors had taken into account some inherent weaknesses in RYB’s business …
Chinese investment banking and asset management firm China Renaissance aims to reach US$10 billion in total assets-under-management by 2020 from adding new investment capabilities in healthcare and mezzanine debt, as well as new investment strategies including hedge funds to its platform, according to a company announcement.
China Reform Holdings Co., Ltd. has led a RMB670 million (US$101 million) new funding round in 3D Medicines, a Chinese healthcare firm developing precision medicine for cancer treatment.
Preceptis Medical Inc., a U.S.-based pediatric surgical technologies developer, has reached the initial closing of its series B financing round led by a group of unnamed Chinese private investors.
Asian alternative investment management group PAG has acquired a super-majority controlling interest in China’s most popular online dating site, Zhenai, which is 20% owned by U.S.-based Match.com.
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.
Shouqi Limousine & Chauffeur, a Chinese ride-booking app backed by Beijing-based automobile company Shouqi Group, has raised a RMB700 million (US$105 million) series B+ round from NIO Capital, Baidu Inc. and Silk Road Huachuang Beijing Co., Ltd.
When you are Jack Ma, you never think small. The founder and executive chairman of Chinese technology giant Alibaba Group Holding Ltd. says he thinks that Yunfeng Capital, the private equity fund he co-founded, will one day rival the most powerful money managers in the world.
China Merchants Capital Investment Co., Ltd. has led a series C round worth over US$100 million in yMatou.com, an online cross-border e-commerce platform.
China’s CITIC Capital, Haier Capital, Lenovo Holdings Corp and Legend Capital have led a nearly RMB700 million (US$105 million) series C round in Phoenix Travel Worldwide Co., Ltd., an overseas travel agency.
China’s largest online automobile financing platform Yixin Group, backed by investment heavyweights Tencent Holdings Ltd, Baidu Inc., JD.com and BitAuto Holdings Ltd, plans to raise up to HK$6.77 billion (US$867 million) via an initial public offering on the Hong Kong Stock Exchange.
Hong Kong-based Run Liang Tai Fund and China’s Sunsea Telecommunications Co., Ltd have led a US$60 million series D round in Ayla Networks, a U.S.-based Internet of Things (IoT) company.
Chinese private equity firm Yunfeng Capital, co-founded by Alibaba’s chief Jack Ma, has led a US$120 million series E round in Xiaozhu.com, a Beijing-based short-term vacation home sharing platform. The investment will enable Xiaozhou.com to better compete with local rivals and Airbnb China for more market share.
RMB denominated private equity and venture funds continue to grow in size and importance, while U.S. dollar funds have seen their role in China’s private investment markets decline. Despite new data indicating that U.S. dollar funds will be further marginalized, there are signs that a very different group of players are setting up or showing renewed interests in establishing offshore U.S. dollar funds to deploy Chinese capital globally.
Hong Kong-based real estate private equity firm Gaw Capital Partners has entered into a framework agreement to acquire SKY SOHO, a group of Class A office buildings in Shanghai’s Linkong Economic Park district, from SOHO China through one of the funds under its management.
Dah Chong Hong Holdings Ltd., a Hong Kong-listed distributor and dealer of motor vehicles in Greater China, said it plans to partner with its parent company that is a subsidiary of CITIC Ltd. to establish an investment fund to back consumer and healthcare companies.
Chinese private equity firm Hony Capital has agreed to acquire 30% of Duemmei, the owner of Italian fashion brand Mr&Mrs Italy, to support the brand’s expansion in Asia.
Singapore’s Temasek Holdings has led a US$502 million series D round in Magic Leap Inc., a U.S.-based augmented reality start-up.
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.