Morgan Stanley Private Equity Asia and private equity fund Crescent Point have led a series C round in Shanghai-based long-term apartment rental provider QingKe.
China’s $20B News Leader Toutiao Under Siege By Government and Rivals
Watching a stern Mark Zuckerberg testify before the U.S. Congress is a reminder how China’s tech companies, despite differences in economic structure and technological sophistication, follow similar trajectories with their American counterparts. Toutiao, China’s biggest personalized news app with a US$20 billion valuation, is experiencing a similar crisis these days as government and competitors attack its core business model.
Spain’s BBVA Invests $50M In Sinovation Ventures $500M AI Fund
Sinovation Ventures, a Chinese VC firm co-founded by Kai-Fu Lee, former head of Google China, has received an investment tranche of US$50 million from Spanish bank Banco Bilbao Vizcaya Argentaria, S.A., or BBVA, for its new US$500 million fund targetting artificial intelligence start-ups.
Qiming Venture Partners Announces Closing Of Three New Funds Totaling $1.4B
Chinese venture capital firm Qiming Venture Partners has announced the closing of three new funds totaling US$1.39 billion.
Warburg Pincus Leads $44M C Round In Chinese Behavior Analysis Firm Sensors Data
An affiliate of Warburg Pincus has led a US$44 million series C round in Sensors Data, a Chinese company providing user behavior data analytics platform and insights to enterprise clients.
CMB Leads $65M Series C Round In Chinese Biotech Firm Biocytogen
CMB International Capital Corporation Ltd, a wholly-owned subsidiary of China Merchants Bank, has led a RMB410 million (US$65 million) series C round in Beijing Biocytogen Co., Ltd., a gene targeted animal model and service supplier.
Korea’s Mirae Reported Planning US$265M Investment In Didi Chuxing
South Korea’s Mirae Asset Financial Group plans to raise a 280 billion won (US$264.8 million) fund to invest in Chinese ride-hailing platform Didi Chuxing Technology Co., according to Korean media reports.
Chinese Drone Maker DJI Said Raising $1B At $15B Valuation
DJI, the world’s largest consumer drone maker, is reportedly in the process of raising US$1 billion, at a valuation of around US$15 billion.
Alibaba’s Alisports Gets $191M At $1.3B Valuation, Buys Fitness App Ledongli
Alisports Group, the sports affiliate of Alibaba Group Holding Ltd. has completed a RMB1.2 billion (US$190.78 million) series A round led by Yunfeng Capital, an investment firm co-founded by Alibaba’s executive chairman Jack Ma.
Another Chinese EV Maker Raises Massive Funding Round At Unicorn Valuation
Another Chinese electric vehicle maker has raised a massive funding round at unicorn valuation, making China the top country by far in producing electric vehicle (EV) unicorns. China is now the only country with EV manufacturing start-ups with valuations of US$1 billion or more. Moreover, China has six EV unicorns with combined valuation of nearly US$20 billion, compared to zero such firms in the U.S. or anywhere else.
Chinese VR Home Design Portal 3vjia Gets $48 Million In Series B Funding Round
Chinese furniture retailer Red Star Macalline Group has led a RMB300 million (US$48 million) series B funding round in 3vjia.com, a Chinese 3D home design and furnishing portal employing virtual reality technology.
Ocean Link Leads US$48 Million Round In Chinese Co-working Space Mydream+
Chinese co-working space Mydream+ has completed a RMB300 million (US$48 million) series B funding round led by Ocean Link, participated in by the existing investor Joy Capital and M31 Management Fund, a unit of Giant Group.
Sequoia China Leads $50M Series C Round In Antibody Discovery Firm Adagene
Sequoia China has led a US$50 million series C round in Suzhou-based antibody discovery and development firm Adagene Inc.
Chinese EV Firm CHJ Automotive Secures $473M, Teams Up With DiDi Chuxing
Chinese electric vehicle start-up CHJ Automotive announced the completion of a series B investment round worth RMB3 billion (US$473 million), led by Matrix Partners China and a new energy vehicle under Shougang Fund, an investment platform backed by state-held steel company Shougang Group.
Blockchain-Based CryptoKitties Raises $12M With Launch In China Planned
CryptoKitties, a platform allowing users to collect and breed their own digital cats built on top of the Ethereum blockchain, has raised US$12 million led by Andreessen Horowitz and Union Square Ventures.
China Minsheng Financial Leads $100M Series E In Ping An-Backed Social Trading Firm eToro
China Minsheng Financial Holding Co., Ltd., a Hong Kong-based investment holding company, has led a US$100 million series E round in London-based social trading and investment platform eToro to support is blockchain technology development.
Source Code Leads $320M Series C Round In Chinese Enterprise IT Leasing Company Edianzu
Chinese venture capital firm Source Code Capital has led a US$320 million series C round in Edianzu, an enterprise IT and office desktop leasing start-up, valuing the firm at US$200 million.
Chinese AI Medical Imaging Start-up Infervision Raises $47M From Sequoia, Qiming
Infervision, a Chinese artificial intelligence start-up developing medical imaging technology, has announced to complete a RMB300 million (US$47 million) series B+ round from existing investors Sequoia Capital China, Qiming Venture Partners and Genesis Capital.
Chinese Plastic Surgery App SoYoung Raises Hundreds of Millions of RMB
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.
Shenzhen Tiantu Joins Zhou Hei Ya To Establish $475M Retail Investment Fund
Chinese venture capital firm Tiantu Capital and an affiliate have partnered with Zhou Hei Ya International, a Chinese fast food chain known for its spicy braised duck, to establish a RMB3 billion (US$475 million) fund to invest in the consumer sector.
Alibaba Consortium Seeks Privatization Of NASDAQ-listed iKang Healthcare Group
Chinese healthcare provider iKang Healthcare Group, Inc. (NASDAQ:KANG）announced that a consortium led by Alibaba Investment Limited and Jack Ma co-founded Yunfeng Capital, has proposed a all-cash transaction to privatize the US$1.29 billion company.
Shunwei Capital Leads $100M Series D In Chinese VR Interior Design Portal Kujiale
Shunwei Capital, a venture firm backed by Xiaomi’s CEO Lei Jun, has led a US$100 million series D round of financing for Kujiale, a Chinese home design platform utilizing virtual reality (VR) technology.
Chinese Cell Therapy Firm JW Therapeutics Closes $90 Million Series A Financing
Chinese cell therapy company JW Therapeutics (Shanghai) Co., Ltd announced that it has raised a US$90 million series A found led by investors Temasek, Sequoia Capital China, and YuanMing Capital, a Beijing-based US dollar fund focusing on investments in pharmaceutical research and development, medical devices and services in both China and the U.S.
Uber Founder Travis Kalanick Launches Investment Fund To Focus On China And India
Travis Kalanick, ex-CEO and founder of Uber who resigned last June after a series of scandals, announced in a tweet that he is launching an investment fund focused on investments in China and India, with the ultimate goal of "large-scale job creation."
Matrix Partners Leads $15.8M Round In Chinese Genetic Testing Start-up 23Mofang
Matrix Partners China, a joint venture fund between U.S. venture capital firm Matrix Partners and its Chinese partners, has led a RMB100 million (US$15.8 million) financing round in Chinese genetics testing and analyzing start-up 23Mofang.
Chehaoduo, Formerly Guazi, Raises $818M Series C Round Led By Tencent
Chehaoduo, a Chinese auto retail services platform formerly known as Guazi, has raised US$818 million series C round of financing led by Tencent Holdings Ltd.
Tencent Makes $115 Million Investment In Indian Music Streaming App Gaana
Chinese internet giant Tencent Holdings is making another major investment in the Indian online entertainment sector, with a US$115 million stake in music streaming app Gaana.
Chinese Logistics Robot Company Dorabot Raises Series A+ Round Led By Yunfeng Capital
Dorabot, a Chinese robotics company deploying artificial intelligence and robotics in the logistics sector has raised tens of millions of dollars in a series A+ round financing led by Yunfeng Capital.
Limebike Raises $70M B+ Round As Bike Sharing Competition Intensifies
US-based bike sharing company LimeBike has raised a US$70 million B+ round, the company announced today. The funds will suppport the company’s expansion beyond its core bike rental business, to include electric bikes and scooters, differentiating it from Chinese bike sharing giants such as Mobike and ofo.
Chinese Co-working Space Ucommune Raises Additional $17M From Qianhai Wutong M&A Fund
China’s largest co-working office space operator Ucommune, previously known as UrWork, has raised an additional RMB110 million (US$17.4 million) from existing investor Qianhai Wutong Mergers and Acquisition Funds, an M&A fund backed by regional equity exchange Qianhai Equity Exchange.
Sequoia China Leads $40M Series C Round In US Fraud Detection Solution Provider DataVisor
Sequoia China has led a US$40 million series C round in Mountain View-based artificial intelligence-powered fraud detection solution provider DataVisor, according to an announcement.