Fritz Demopoulos: I Back Committed, First-Mover Start-ups

In this episode of China Money Podcast, guest Fritz Demopoulos, founder of Queen’s Road Capital, shares his thoughts on China’s Internet sector and entrepreneurship. As founder of two successful Chinese Internet companies, and, Demopoulos is now hoping to capture the next big opportunity in China’s Internet evolution by deploying his own capital. Listen to the full interview in the audio podcast, watch the shortened video version or read an excerpt. Q: Last time when we talked, it was …

Four VC Firms Invest RMB150 Million In China’s Bama Tea

Chinese tea company Bama Tea says earlier this week that it has completed series A funding. IDG Capital Partners, Tiantu Capital, Shenzhen Cowin Capital and Tianjixing Capital have jointly invested RMB150 million in the company. The four venture capital and private equity investors will obtain a stake of less than 15%, says Wang Wenli, chairman of Bama Tea.

Ant Financial, IDG Invest In Chinese Bike Sharing Company Youon Bike

Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., has teamed up with Chinese venture firm IDG Capital and Shenzhen Capital Group Co., Ltd to invest in a series A financing round in Youon Bike, a Jiangsu province-based bike sharing company, according to Chinese media reports. No financial details were disclosed. Founded in 2010, Youno claims that it has deployed over 800,000 bikes in 210 cities in China and has over 16 million users. The company has partnered …

Chinese Billionaire Lu Zhiqiang’s Oceanwide Completes IDG Acquisition

China Oceanwide Holdings Group Co., Ltd., the conglomerate chaired by Chinese billionaire Lu Zhiqiang (pictured), said it has closed its acquisition of Boston-based International Data Group, Inc. (IDG). Upon closing, which officially took place yesterday, China Oceanwide became controlling shareholder, with 90% ownership of IDG’s operating businesses, including International Data Corporation and IDG Communications. IDG Capital, a China-based venture capital firm initially backed by IDG, will own the remaining 10%. China Oceanwide also became a minority shareholder in IDG’s venture …

IDG Leads Series A Round In Chinese Cashier-Free Convenience Store Operator Guoxiaomei

Chinese venture capital firm IDG Capital has led a series A round in Guoxiaomei, a cashier-free convenience store operator that places snack bars in corporate offices. Financing details were not disclosed, but IDG has likely invested tens of millions of RMB in the start-up, including in an earlier pre-A round completed last month.