Beijing-based China Chengxin Credit, a credit information provider, has raised a RMB450 million (US$70.5 million) series A round from Citic Capital, Hillhouse Capital and others.
Chinese long-term apartment leasing start-up Uoko.com has completed a C1 round worth RMB1 billion (US$157 million), including equity and debt financing from various venture capital firms and banks, according to an announcement made by the company’s financial advisor, Galaxy Capital.
GIC, the Singapore investment firm managing the state’s foreign reserves, has led a US$260 million (RMB1.653 billion) series B financing in CStone, a Chinese bio-pharmaceutical company.
China has been testing asset-backed securities (ABS) as an alternative method to manage its non-performing assets for more than two years. But as interests among banks to issue new ABS remain tepid, the total issuance size of bad loan-backed ABS dropped last year.
Arctic Green Energy, a renewable energy company focusing on creating zero-emission cities, has completed a new funding deal from CITIC Capital, China Everbright Ltd. and Asian Development Bank. CITIC Capital, an early investor in Arctic Green Energy since 2015, has exercised its conversion rights to acquire equity of US$30 million in Arctic Green Energy. China Everbright Ltd. has purchased shares and an exchangeable bond issued by Arctic Green Energy for a total of US$70 million. Previously, Arctic Green Energy announced …
China’s online education platform 17Zuoye, owned by Sunny Education Inc., continues to be a magnet for investors. The latest investment is a US$250 million Series E round in led by Singaporean investment fund Temasek. The deal follows a $200 million investment by AI-driven news aggregation company Toutiao on March 7.
China’s bike-sharing firm ofo announced that it has raised US$866 million in equity and debt capital in a funding round led by Alibaba Group Holding Ltd. The deal increases Alibaba’s control over the company and further distances ofo from its major shareholder Didi Chuxing.
Chinese media firms Jiemian and Cailian Press have merged to create a powerful financial news and information giant in the media intelligence and data space in China, the companies announced today.
Citic Capital-controlled Harbin Pharmaceutical Group Holding, known as Hayao, has agreed to invest US$300 million in U.S.-based health and wellness retailer GNC Holdings, becoming the single largest shareholder in NYSE-traded GNC.
An investor corsortium led by funds managed by CITIC Capital Holdings Ltd. and Chinese media firm Caixin Global has reached an agreement to acquire a unit of London-listed Euromoney Institutional Investor PLC for US$180.5 million, the firms announced today.
Chinese tech giant Tencent Holdings Ltd has opened up its artificial intelligence images platform to the public, essentially offering basic image and facial recognition capabilities for free. The move raises the question if start-ups focused on providing facial recognition services would still be commercially viable.
China has a new way to deal with its growing pile of bad corporate debt with the establishment of the nation’s first online distressed asset exchange. China Huarong Asset Management Co Ltd, a large state-owned asset manager, last week launched an online platform for bad debt transactions named the Huarong Zhongguancun Distressed Asset Exchange Co. The new entity is the first institution in China dedicated to the trading of bad debt and will have a registered capital of RMB500 million (US$80 …
Japan’s financial services firm Orix Corp has led a US$70 million follow-on series D round funding in Chinese peer-to-peer lending platform Dianrong, and plans collaboration between the two companies.
Chinese investment banking firm CEC Capital Group has announced the promotion of John Song, Gang Li and Zack Zhang to partner, as the firm aims to broaden and deepen its coverage to a new class of rising Chinese enterprises.
Chinese tech giant Alibaba Group Holding Ltd. is reported to have bought a US$3 billion stake in bike sharing firm ofo from GSR Ventures.
FAW Car Co Ltd., a Shenzhen Stock Exchange-listed passenger car maker will take a 10% stake in bike-sharing firm Mobike’s new car-sharing unit Mobike Chuxing Technology Co, according to a securities filing by FAW.
For China venture capitalists, 2017 was a big deal year. While overall VC activity kept the robust pace of a record 2016, the year of 2017 witnessed a large number of record-setting mega deals that defined the growth trajectory of China’s tech sector and made headlines worldwide.
Chinese humanoid robot maker Ubtech Robotics is raising a US$400 million series C round led by tech giant Tencent Holdings Ltd. with participation from investors whose identities are unknown at this moment. The Shenzhen-headquartered company has been raising this round at least from six months ago, and the final numbers may still change, according to people familiar with the matter.
Chinese Internet company Baidu Inc. is reportedly leading a new funding round of roughly RMB1 billion (US$140 million) in WM Motor, an electric vehicle start-up founded by Freeman Shen, the former chairman of Volvo Car Group China.
Chinese Internet giant Tencent Holdings Ltd. has led a new funding round worth over US$1 billion in NIO, a Shanghai-based electric vehicle company founded by a top Chinese automobile executive.
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.
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.
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.
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
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.
Interactive Brokers Group, Inc., the largest U.S. electronic broker in terms of daily average revenue trades, said it has agreed to make a strategic investment in Tiger Brokers, a Chinese online stock brokerage start-up backed by China Growth Capital and others.
Chinese logistics services provider Best Inc., backed by Chinese Internet giant Alibaba Group Holding Ltd., has cut its New York Stock Exchange IPO by half due to tepid investor demand.
SDIC Fund Management Company Ltd., a private equity firm majority owned by China’s State Development & Investment Corporation (SDIC), as well as an investment arm under China Life Insurance Co., Ltd., have led a RMB3.3 billion (US$500 million) series A round in Shanghai United Imaging Healthcare, a medical imaging equipment developer.
Best Inc., a logistic service provider backed by Alibaba Group, has revised up the amount of capital it is seeking to raise in an initial public offering in New York to US$1 billion, from a previous target of US$750 million in June.
Chinese bike sharing firm ofo rode into North America yesterday with a debut in Seattle, as the company expands globally in tight competition with rival Mobike.
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.