Alibaba’s financial affiliate Ant Small and Micro Financial Services Group Co., Ltd. announced today that it has entered into definitive agreements with investors for its Series C equity financing totaling approximately US$14 billion.
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 each workday.
Jing Hong (pictured), a partner at Chinese private equity and venture investment firm Hillhouse Capital, has reportedly left the company to start her own fund. This is the latest in a string of investment professionals leaving established firms to set up their own fund to tap into the booming private investment market in China.
Chinese apartment rental service provider Ziroom has raised a RMB4 billion (US$622 million) series A round led by Warburg Pincus, Tencent and Sequoia Capital China, according to its WeChat official account.
Beijing-based travel service platform Mafengwo has raised a US$133 million series D round from General Atlantic, Temasek, Chinese private equity firm Ocean Link, Chinese venture capital fund Yuantai Changqing fund, and Houpu Investment Management, a private equity firm founded by former Goldman Sachs China Partner Fang Fenglei.
Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, has agreed to acquire China’s lip-synching video app Musical.ly.
China Renaissance Group has appointed Ke Wei, formerly a managing director at global private equity firm General Atlantic, as partner of its US$3 billion New Economy Fund. Wei will also become a member of the investment committee, and report to Fan Bao, chairman and CEO of China Renaissance Group, the firm announced.
Chinese personalized news recommendation app operator Toutiao is reported to have raised a new funding round of over US$2 billion, led by American private equity firm General Atlantic.
NEW YORK, July 5, 2017 /PRNewswire/ — General Atlantic, a leading global growth equity firm, announced today that Yong Hak Huh, Founder and CEO of First Bridge Strategy Limited and former Chief Investment Officer of Private Markets and Direct Investment at the Hong Kong Monetary Authority, is joining General Atlantic as a special advisor to support the firm’s initiatives in Asia.
With decades of experience serving in various leadership roles at leading global financial institutions, Mr. Huh will work closely with General Atlantic’s capital partnering team and Asian investment team, leveraging his widespread experience advising global private equity firms and large financial institutions.
General Atlantic’s team of special advisors is comprised of senior executives from around the globe who share deep, company-building expertise and best practices to support the firm in its goal of adding strategic value to growth companies as they seek to become market leaders. Special advisors deliver strategic, practical, and impactful support in the areas of revenue generation, operational excellence, and human capital to enable and sustain growth for the firm’s portfolio companies.
"We are excited to welcome Yong Hak to the firm as we expand our relationships with entrepreneurial companies and leading investors across Asia. As we deepen our presence and build upon two decades of growth investing in the region, we know that Yong Hak will only reinforce our capabilities and experience and deepen our connectivity with family and institutional investors seeking to partner with General Atlantic," said Graves Tompkins, Managing Director and Global Head of Capital Partnering at General Atlantic.
"General Atlantic has built an outstanding reputation as a partner of choice for both Asian growth companies and family and institutional investors. I look forward to working with the entire GA team to help cultivate relationships throughout the region and to provide strategic counsel and support to its portfolio companies," said Mr. Huh.
Prior to joining General Atlantic as a special advisor, Mr. Huh founded First Bridge Strategy Limited in 2015. The company partners with large financial institutions, such as insurance companies, pension funds, and sovereign wealth funds, to help them succeed in building long-lasting robust investment portfolios. Before founding First Bridge, Mr. Huh was the first Chief Investment Officer of Private Markets and Direct Investment at the Hong Kong Monetary Authority, where he pioneered and managed a global alternative asset portfolio comprised of private equity funds, secondary securities, distressed credit, technology venture funds, and real estate.
Mr. Huh began his career at J.P. Morgan, where he held various senior positions over the course of nearly 20 years. Mr. Huh has an M.I.A. from the School of International Affairs at Columbia University in New York and a B.A. in Political Science and Diplomacy from Korea University. He also attended the Executive Program at Stanford University Graduate School of Business.
General Atlantic has been active in Asia since 1999 and has $1.8 billion of capital invested in China and an additional $2 billion invested in India and Asia-Pacific, as of December 31, 2016. The firm has 20 investment professionals in the region, with offices in Beijing, Hong Kong, Mumbai, and Singapore. General Atlantic focuses on investments across five sectors, including Internet & Technology, Financial Services, Business Services, Retail & Consumer, and Healthcare, with support from the firm’s global team of experts. General Atlantic’s recent investments in the region include 58.com, Billdesk, Fang.com, IIFL Wealth & Asset Management, New Century Hotels & Resorts, Ocean Link, PNB Housing Finance, and PT Map Boga Adiperkasa (MBA).
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com
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Private equity firm General Atlantic has promoted Hong Kong-based Erin Chang (pictured) to principal, while naming New York’s Aaron Goldman and Mumbai’s Shantanu Rastogi to managing director, the firm announced.
Since 2015, 92 companies globally have raised capital or were sold at a lower valuation in major transactions, in what venture circles call down rounds or down exits, according to data tracker CB Insights. There are quite a few Chinese companies on that list.
Ocean Link, a private equity firm founded by former Carlyle Group executive Tony Jiang and hotel veteran Alex Zheng, says it has established a strategic partnershp with Ctrip and global growth equity firm General Atlantic, says a company announcement.
General Atlantic has appointed former Carlyle Group managing director Eric Zhang as head of China to lead the firm’s investments in growth companies across China, says a company announcement.
BEIJING and NEW YORK, June 6, 2016 /PRNewswire/ — General Atlantic, a leading global growth equity firm, announced today that Eric Zhang, former Global Partner and Managing Director of The Carlyle Group, has joined General Atlantic as Managing Director and Head of China. Mr. Zhang will lead the firm’s investments in growth companies across China.
"We are excited to build upon our 16 years of experience partnering with leading entrepreneurs and growth companies in China," said Bill Ford, Chief Executive Officer of General Atlantic. "Eric’s impressive track record in Asia, deep local expertise, and proven ability to invest in and partner with outstanding companies make him an ideal leader for our local team and long-term efforts in China."
General Atlantic has been investing in China since 2000 and has invested $1.5 billion in 17 different investments. General Atlantic currently has four offices in Asia located in Beijing, Hong Kong, Singapore, and Mumbai.
"General Atlantic has capitalized on the emergence of innovative entrepreneurs and rapidly scaling companies. GA’s unique global capability and unparalleled experience working with growth companies make GA the partner of choice for disruptive companies in China. I look forward to building and leading the firm’s presence in China for many years to come," said Mr. Zhang.
Mr. Zhang joins General Atlantic from The Carlyle Group where he worked as Global Partner and Managing Director focused on buyout and growth investments across Asia from 2006 to 2016. At Carlyle, he led numerous successful private equity transactions. He is currently on the board of directors of 58.com and has previously served on the boards of China Reading, Soufun, Yashili, Plateno Group, Crystal Orange Hotel Group, Kaiyuan Hotel Group and New Century Asset Management Co. Ltd, and AnNeng Logistics Group.
Previously, Mr. Zhang was a Vice President in the Mergers and Acquisitions group at Credit Suisse based in Hong Kong. Prior to that, he was a Vice President in the Investment Banking department at China International Capital Corporate Limited. Mr. Zhang received his master’s degree in economics from Shanghai University of Finance and Economics.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, Sao Paulo and Singapore.
+86 10 5676 8715
The merged Meituan-Dianping entity, the largest on-demand local services provider in China, has reportedly raised US$2.8 billion in a new financing round, with Tencent Holdings Ltd. investing US$1 billion, according to a fundraising document reported by Chinese media.
Chinese Internet giant Tencent Holdings Limited is to invest US$1 billion in the merged Meituan-Dianping entity, which is the largest on-demand local services provider in China, at a valuation of around US$20 billion, according to media reports.
Shanghai-based Yelp-like review website Dianping.com and Beijing-based group discount platform Meituan.com have merged to form the largest group buying and local services firm in China, the companies said in an announcement.
San Francisco-based home-sharing platform Airbnb Inc. has established a partnership with Sequoia China and China Broadband Capital to widen its foothold in China, according to a company announcement. The two China-focused venture capital firms will help find a chief executive officer for Airbnb’s China business and to expand its presence in the country.
Beijing-based Chinese group discount platform Meituan.com is in the process of raising over US$1 billion in its series E financing round with a valuation that could exceed US$15 billion, according to media reports. The fundraising plans are at an early stage, and the final results may still change.
Beijing-based Chinese group discount platform Meituan.com has received US$700 million new round of financing based on a valuation of US$7 billion, according to the announcement in its Weibo account.
Beijing-based Chinese hotpot restaurant chain Xiabuxiabu Catering Management (China) Holdings Co. Ltd., backed by global growth equity firm General Atlantic, has completed an IPO on the Hong Kong Stock Exchange, raising net proceeds of around HK$1 billion (US$130 million), according to a regulatory filing. The company offered 227.1 million shares at HK$4.70 per share, the middle of its indicative price range of HK$4.4 to HK$5.0. The float is slightly oversubscribed.
Beijing-based Chinese hotpot restaurant chain Xiabuxiabu Catering Management (China) Holdings Co. Ltd., backed by global growth equity firm General Atlantic, has disclosed that it plans to offer 227.1 million shares at HK$4.4 to HK$5 apiece to raise as much as HK$1.1 billion (US$140 million) in an IPO on the Hong Kong Stock Exchange, according to a regulatory filing. The company’s shares are expected to begin trading on December 17 under stock code "520″. Earlier this year, it was reported that …
Beijing-based Chinese hotpot restaurant chain Xiabuxiabu Catering Management (China) Holdings Co. Ltd., backed by global growth equity firm General Atlantic, has filed with the Hong Kong Stock Exchange for an IPO, according to a regulatory filing. The size or the pricing of the IPO have not been determined. Earlier this year, it was reported that Xiaobuxiabu was planning a US$300 million IPO. In 2012, General Atlantic acquired a majority stake of Xiabuxiabu from emerging markets private equity specialist Actis Capital …
In this episode of China Money Podcast, guest Eric Solberg, founder and CEO of Asia-focused private equity and wealth management firm EXS Capital, talked to our host Nina Xiang. He discussed how he is preparing to invest in China’s property sector in its downturn, and why he thinks there are attractive investment opportunities in the Chinese steel sector.
Chinese beauty products e-commerce firm Jumei International Holding Ltd. has completed a U.S. IPO, raising about US$245 million by offering 11.14 million American Depository Shares at US$22 per share.
Beijing-based Chinese group discount platform Meituan.com has raised US$300 million in series C financing led by global growth private equity firm General Atlantic, according to Chinese media reports.
Global growth equity investment firm General Atlantic‘s Singapore fund has agreed to invest US$150 million in Chinese beauty products e-commerce firm Jumei International Holding Ltd.’s downsized U.S. IPO, according to the latest securities filing of Jumei.