YY Inc To Spin Off Game Streaming Unit Huya For US IPO

NASDAQ-listed Chinese online social entertainment firm YY Inc. has announced that its live gaming streaming platform Huya recently submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Committee for a possible initial public offering in the U.S.

IPO Strips Huami Of Its Unicorn Status; More Unicorn Downgrades To Come?

Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag.

Warburg Pincus Leads $60M Series B Round In Logistics Robot Maker Geek+

Warburg Pincus has led a US$60 million series B financing round in Geek+, a Beijing-based logistics robot developer whose technology, similar to Amazon’s Kiva robot, is designed to improve automation at warehouses. Existing shareholders including Volcanics Venture also participated in the round, which is the largest single round of fundraising in the logistics robot industry globally to date, says Warburg in an announcement. The new round follows a RMB100 million (US$14 million) series A+ round in Geek+ led by Vertex …

Banyan Capital Raises $725M Across Two New Funds

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 …