A Chinese company, which just announced having raised RMB250 million (US$36 million) from investors including IDG Capital and Morningside Ventures, is founded to have lied about producing China’s first web browser operating system and related core technology.
Venture capital firm GGV Capital is looking to raise seven new funds targeting total fundraising of US$1.88 billion, according to a security filing dated August 13.
China’s largest co-working office space operator Ucommune has raised a RMB300 million (US$43.5 million) investment round from property developer RK Properties and existing investor Jingrong Holdings, according to the company’s announcement.
Hillhouse Capital has joined General Atlantic to lead a US$120 million series C round in Chinese co-working space Mydream+.
Manbang Group, a Chinese truck-hailing platform is looking to raise US$1 billion in a new funding round, according to the Wall Street Journal.
Lianxing Capital has raised strategic investment from many institutions including Huobi Global Ecosystem Fund, JLAB, and Gobi Venture Capital among others.
iQiyi Sports, the sports platform of Chinese online video firm iQiyi, has raised a RMB500 million (US$73 million) strategic investment led by IDG Capital.
Yunfeng Capital, co-founded by Alibaba’s founder Jack Ma has raised US$2.5 billion for its new fund, according to a security filing dated August 3 with the U.S. Securities and Exchange Commission.
Chinese venture capital firm Sinovation Ventures has led a RMB100 million (US$15 million) series A round in artificial intelligence-powered fintech start-up Ahi Fintech.
SB China Venture Capital (SBCVC) and Chinese artificial intelligence company SenseTime have co-lead a RMB1.36 billion (US$199 million) series D round in video technology start-up Beijing Moviebook Technology Corp., Ltd.
Shanghai-based peer-to-peer lending platform Dianrong, which raised over half a billion U.S. dollars previously during more exuberant times, has just received a US$40 million investment from Dalian Finance Industry Investment Group (DFIIG), according to a company announcement.
Sequoia Capital China and Boyu Capital have led a US$200 million series D round in Klook, a Hong Kong-based full-service in-destination booking platform.
Suzhou city, Jiangsu Province-based biotech firm CureGenetics Co., Ltd has raised a US$17 million series A round led by Qiming Venture Partners.
Chinese venture capital firm Gaorong Capital has joined CMB International to co-lead a RMB180 million (US$26 million) in Chinese artificial intelligence start-up Tianrang.
Chinese investment firm Decheng Capital has led a US$30 million series C round in Nanjing-based pharmaceutical firm Impact Therapeutics.
SDIC Venture Capital, a Chinese state-owned investment holding company, has joined the venture capital fund of Chinese Academy of Sciences, and Suzhou Chengxin Venture Capital to invest RMB150 million (US$22 million) in series B round in Chinese semiconductor laser manufacturer Suzhou Everbright Photonics Co. Ltd, according to Everbright Photonics’s announcement.
Sequoia Capital has led a US$50 million series B+ round in Shanghai-based used goods swap app Xiangwushuo, which promotes a green and environmentally friendly lifestyle.
Chinese medical solution provider Medlinker has raised a RMB1 billion (US$146.8 million) series D round led by China Capital Zhongcai Fund, an industrial fund management company jointly sponsored by China Investment Securities, Zhongcai Financial Holding Investment LTD and others.
Chinese consumer medical beauty platform Igengmei raised a US$50 million series D1 round from Xiamen-based technology company Meitu and Shenzhen-based FOFs DH Fund.
During the first six months, Chinese private equity and venture capital funds saw fundraising plummeting significantly. The tight liquidity conditions, mostly due to tightened financial regulations, has led to more concentrated investments as GPs become more cautious in where to put capital.
Ofo, one of the two largest Chinese bike rental firms in China, is near a deal to sell itself to Chinese ride hailing firm Didi Chuxing at a much discounted price after suffering a slew of bad news.
U.S. co-working space WeWork Companies today announced that it has completed a US$500 million series B round in WeWork China. The round was led by Temasek, the SoftBank Group the SoftBank Vision Fund, as well as Chinese investment firms Trustbridge Partners and Hony Capital.
Chinese Internet of things (IoT) solution provider Tuya Smart has raised a US$200 million series C round from Australian sovereign wealth fund Future Fund and other investors.
Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to media reports.
Beijing-based venture capital China Creation Ventures (CCV) announced that it has raised nearly US$200 million for its new fund to invest in early-stage companies in telecommunication, media and technology sectors in China.
Chinese venture capital firm Long Hill Capital has closed its second fund with US$265 million to continue investing in China’s healthcare and consumer sectors, the firm announced today.
Legend Capital has led a RMB150 million (US$22 million) series B round in Chinese commercial satellites developer Spacety, according to Spacety’s announcement.
Chinese artificial intelligence (AI) solution provider Unisound announced that it has raised a RMB600 million (US$89 million) series C+ round led by China Internet Investment Fund – RMB100 billion fund initiated by Cyberspace Administration of China and Chinese Ministry of Finance.
Chinese big data fintech firm Advance.ai announced completion of a US$50 million series B+ round from China’s Vision Capital, GSR Ventures, Zhen Fund and others.
Ascentage Pharma, a Chinese clinical-stage biopharmaceutical company dedicated to developing apoptosis-targeted therapies for cancer and other diseases, announced that it has raised a US$150 million series C round co-led by YuanMing Prudence Fund and Oriza Seed Venture Capital, as well as new investor Teng Yue Partners.
Technology-focused hedge fund Coatue Management has led a US$350 million series D round in Zuoyebang, an online platform that helps K-12 students with homework.