Gobi Partners, a Chinese venture capital firm focused on information technology, telecom, media and technology (TMT) and digital media industries, has reached the first close of its new Asean-focused fund at US$50 million. Malaysia Venture Capital Management Bhd (Mavcap), Korean home shopping company GS Shop, and Indonesian investment firm CKM have also invested in the fund, according to a company announcement. “This fund is the biggest growth stage fund to come out of Malaysia at this point, and it is also one of the biggest in Asean," said Mavcap CEO and Gobi senior adviser Jamaludin Bujang. "Mavcap is more than optimistic about the benefits to be gained by being a part of this fund.” The new fund, named Meranti Asean Growth Fund, will seek investment opportunities in the fields of cloud services, e-commerce, financial technology and Muslim-focused tech firms. It will invest in over 15 start-ups in series B and C rounds, with a targeted size of US$5 million to US$20 million. The fund was launched last December with a target of US$200 million. It unveiled its first investment yesterday in Sale Stock, a leading Indonesian fashion e-commerce platform, by co-leading a US$27 million series B+ round. Founded in 2002, …
Lilly Asia Ventures, a healthcare-focused venture capital firm backed by global pharmaceutical giant Eli Lilly & Co., has closed its fourth healthcare fund at a US$450 million hard cap.
Cathay Innovation, a global venture capital fund affiliated with Sino-French private equity firm Cathay Capital Private Equity, has closed its first venture capital fund at US$320 million.
Chinese clean-tech venture capital firm Tsing Capital has launched its fifth flagship fund, the China Environment Fund V, L.P., with a fundraising target of US$300 million.
SoftBank Group Corp has announced the first closing of US$93 billion for its global technology fund, SoftBank Vision Fund, which was launched last October by SoftBank and Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund.
Lightspeed China Partners, a Chinese venture capital firm focused on early-stage investments in China's technology sector, has closed its first RMB fund at its RMB600 million (US$87 million) hard cap.
Beijing-based venture capital firm YI Capital has completed the final closing of its maiden RMB fund at RMB800 million (US$116 million) hard cap.
Chinese early stage venture capital firm Source Code Capital has announced the final close of its third U.S. dollar fund at a US$260 million hard cap.
Zhou Wei(pictured), a managing partner at venture firm Kleiner Perkins Caufield & Byers China, has established his own venture capital firm named China Creation Ventures.
China-focused venture capital firm Banyan Capital has raised over RMB5 billion (US$725 million) across two new funds, bringing the three-year-old firm's total assets-under-management to around RMB11 billion (US$1.6 billion). The two new funds, including Banyan's third U.S. dollar fund with US$350 million in assets and one RMB-denominated growth fund, will continue firm's strategy of investing in early and growth-stage projects in the artificial intelligence, Internet, enterprise services, consumer upgrade and entertainment sectors. The firm also raised a US$50 million side fund with capital from its own management team and entrepreneur friends. Founded by three former IDG Capital executives, Zhang Zhen, Gao Xiang and Yue Bin, Banyan Capital said in an announcement today that the U.S. dollar fund completed fundraising in just over one month from limited partners, including university endowments, family offices and pension funds in the U.S. and globally. It's RMB fund secured commitments from Chinese Internet companies, state-owned enterprises, and financial institutions in China. Founders of several Chinese Internet giants, including Tencent, Baidu, Xiaomi, JD.com and Meituan-Dianping have also committed to Banyan's funds. Banyan Capital has invested in various start-ups, such as maternal and infant product e-commerce platform Beibei.com, third-party social media-based e-commerce firm Pinduoduo, crowd-sourcing express service …
Chinese early stage venture investment firm Morningside Venture Capital has completed fundraising for its first RMB-denominated fund at its RMB1 billion (US$140 million) hard cap.
Fosun Kinzon Capital and IDG Capital have led a series B round worth hundreds of millions RMB in ZMT Zhongmeng, a Beijing-based mobile marketing solutions provider.
The bike sharing frenzy that started in China has spread to the other side of the Pacific. Silicon Valley-based venture capital firm Andreessen Horowitz has led a US$12 million series A round in San Francisco-based bike sharing start-up LimeBike, which was founded by two Chinese entrepreneurs.
Tencent Holdings Ltd. and Baidu Inc. have led a US$600 million funding round in Shanghai-based electric car maker NIO, formerly known as NextEV, according to Chinese media reports citing insiders.
Evolution Media China, an investment firm founded by U.S.-based Evolution Media Partners, and Chinese investment firm Shenzhen Capital Group Co., Ltd. have led a RMB200 million (US$29 million) series B round in a Shenzhen-based Makeblock, an educational programmable electronic robot kit building start-up.
Alibaba Group Holding Ltd. has led a US$18 million series B round in Swiss holographic augmented reality developer Wayray, according to a company announcement.
China's biggest online dating platform, Baihe.com, plans to establish an investment fund with private equity firm JD Capital to invest in wedding service and wedding related companies and push for industry consolidation via mergers and acquisitions.
China's largest on-demand local services provider Meituan-Dianping has launched a RMB3 billion (US$440 million) industry fund to invest in the greater consumer field, as investors and companies in China race to capitalize on increasingly discerning consumers, according to a company announcement.
Chinese venture firm Crystal Stream Capital has established a new venture fund named Qinghan Fund with Chinese movie star Lu Han and dairy producer New Hope Group. The investment vehicle will aim to invest in early-stage cultural projects, online content platforms and media companies.
Legend Capital, the venture and growth capital arm of China's Legend Holdings Corporation, has secured US$243 million for its seventh venture capital fund, according to a securities filing. LC Fund VII, L.P. is aiming to raise US$374 million in total, and is still in the process of raising the remaining US$132 million. The vehicle last filed with the U.S. Securities and Exchange Commission in February 2016 as it began the fundraising process. Founded in 2001, Legend currently manages RMB30 billion (US$4.37 billion) across numerous U.S. dollar and RMB vehicles. It focuses on innovation and growth enterprises with operations in China or related to the Chinese market. By 2016, Legend has invested in over 300 companies, of which 50 have been successfully listed on domestic or overseas stock exchanges with around 40 companies exited through strategic sales. Some of its recent investments include co-leading a US$100 million funding round in AtourHotel, a Chinese boutique hotel and service apartment operator, and backing Chinese cross-border seafood B2B e-commerce start-up Gfresh at the end of 2016. Some recent exits including Shandong Linglong Tyre Co., Ltd., which was listed on the Shanghai Stock Exchange in July 2016. Shanghai-based P2P (peer-to-peer) lending firm Ppdai.com, backed by …
Shenzhen-based Chinese technology firm Kuang-Chi Group announced today the launch of a US$250 million fund to invest in global technology companies with the aim of helping them to enter and expand in China, according to an announcement.
Genbridge Capital, founded by former members from the mergers and acquisitions division at JD.com Inc., is seeking to raise US$500 million for a maiden venture capital fund to invest in Chinese start-ups, according to a securities filing.
China Merchants China Direct Investments (CMCDI), a Hong Kong-listed investment entity managed by China Merchants Group and First Eastern Investment Group, has agreed to commit RMB90 million (US$13 million) to Anhui Iflytek Venture Capital LLP, a fund focused on investing in Internet and artificial intelligence applications in China.
Taiwanese original design manufacturer Wistron Corporation has launched a US$20 million venture capital fund with Silicon Valley-based Fenox Venture Capital to invest in top technology companies around the world.
Angel Plus, a Chinese angel investment fund co-established by the founder of Chinese education giant New Oriental Education, has launched its first U.S. dollar fund with a US$100 million target.
WI Harper Group has teamed up with Luxin Venture Capital Group and Shandong Leader Equity Investment Fund to launch a cross-border fund focused on investing in start-ups in the U.S. and China, the firms announced.
Long Hill Capital, a venture capital firm launched by the team that managed NEA's China investments since 2005, has raised US$125 million for its debut fund, according to an announcement.
Chinese venture firm Fortune Capital has established a RMB100 million (US$15 million) fund to invest in military companies and projects, as the country continues to allocate increasing amount of funds to its military budget.
IMAX Corporation and IMAX China Holding, Inc have completed the first phase of a US$50 million virtual reality (VR) fund to finance the creation of at least 25 interactive VR content over the next three years for use across all VR platforms including in IMAX's own VR centers.
Redbud Capital, an investment platform under Tsinghua Holdings, has teamed up with the State-owned Assets Supervision and Administration Commission (SASAC) of Yiwu City and Zhejiang China Commodities City Group to launch a RMB1 billion (US$150 million) fund-of-funds focused on venture capital.
China-focused venture firm Qiming Venture Partners has reached final closing of its fourth RMB fund, securing RMB1.5 billion (US$222 million) in total and bringing the firm's aggregate asset-under-management to US$2.7 billion.