Autonomous driving firm Pony.ai has raised a US$112 million series A round co-led by Morningside Venture Capital and Legend Capital, according to a company announcement.
China’s venture capital and private equity industry continues to expand at an impressive pace with the top-ten most active firms participating in 460 deals, worth US$22 billion in total. That compares with 399 deals worth US$12 billion in 2016, with total deal value almost doubling from a year ago.
Shares of Yixin Group Ltd., China’s largest online automobile financing platform, got off to a fast start on its trading debut in Hong Kong on Thursday, jumping over 30% in early trade, before settling lower later in the day.
DCM Ventures has led a US$75 million series C round in Maimai.cn, a Chinese business and career-oriented social networking company, the company announced.
IDG Capital’s name appeared in a curious press release today. “Secoo: IDG Capital Will Continue to Support Undervalued Secoo After Restrictions Are Lifted,” it reads. Secoo Holding Ltd, a Chinese luxury e-commerce retailer that raised around US$140 million in a NASDAQ IPO last month, has seen its share price nearly halve during the past three weeks after shares began trading on September 22. The company’s ADR closed at US$6.97 apiece on October 12, compared to its IPO price of US$13 …
Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017 Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said.
Financing of Chinese co-working space industry continues to accelerate as leading players battle for market share.
Everbright-IDG Industrial Fund, an investment vehicle jointly established by China Everbright Ltd and IDG Capital, has led a series F round in Wish.com, a Silicon Valley-based cross-border e-commerce firm co-founded by a Chinese engineer.
Jumei International Holdings Ltd., a Chinese beauty products e-commerce platform, has acquired an equity interest in Shenzhen Jiedian Technology Co., Ltd, a mobile device power bank rental start-up.
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 …
IDG Capital and Sunwoda Electronic Co., Ltd., a Shenzhen-based lithium battery module developer, have led an RMB100 million (US$14 million) series A round in Ankebox, a Shenzhen-based mobile device charger sharing start-up.
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 …
Pan-Lin Asset Management Co., Ltd., a Shanghai-based RMB-denominated private equity firm, has led a US$20 million series B round in YCloset, a Beijing-based online women clothing rental platform and mobile app.
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.
A Chinese consortium led by IDG Capital has completed the purchase of the lighting lamp manufacturing unit of German high-tech lighting company Osram Licht AG for a final price of around €500 million (US$529 million), Osram announced last week. IDG Capital, Chinese lighting company MLS Co., Ltd. and Yiwu State-Owned Assets Operation Center agreed in July 2016 to acquire the business, called Ledvance, for over €400 million, with Osram receiving additional payments for license agreements of trademark rights. Osram said …
Sequoia Capital China and IDG Capital have teamed up with Chinese travel agency China CYTS Tours Holding Co., Ltd. to establish an investment vehicle, the CYTS Hongqi Fund, to capitalize on consumer upgrade in the tourism industry, according to a company filing submitted by Shanghai-listed CYTS. The joint vehicle did specify how much capital they aim to raise from third-parties in total.
IDG Capital and CreditEase New Finance Industrial Investment Fund have invested RMB80 million (US$11 million) in CreditEase Insurance Agency, an Internet insurance unit of Chinese financial services company CreditEase Group, according to a company announcement.
Matrix Partners China, Qiming Venture Partners and IDG Capital have invested RMB200 million (US$28 million) in a series B round in Anxin Doctor, a Beijing-based mobile health app focused on children and women healthcare, according to a company announcement.
China’s national small and medium-size enterprises development fund and China Merchants Capital Investment Co., Ltd. have made a RMB120 million (US$17 million) series B+ round in Haoqiao.cn, an online international hotel searching and booking platform geared for enterprises, according to Chinese media reports.
IDG Capital has teamed up with China Oceanwide Holdings Group Co., Ltd. to acquire International Data Group, Inc (IDG), the Chinese venture firm’s first limited partner and parent before its spin-out in 1999.
IDG Capital achieved 17 exits in 2016, including three initial public offerings and 14 strategic sales. Twenty-six portfolio companies achieved US$1 billion in valuation to qualify as tech unicorns, positioning it among the few funds with the most unicorns in China, it said yesterday via a Wechat post.
G-bits Network Technology Co. Ltd., a Chinese online gaming company backed by IDG Capital Partners and Fortune Capital, has completed an initial public offering on the Shanghai Stock Exchange, raising RMB961 million (US$138 million).
IDG Capital, China Soft Capital and two other Chinese funds have invested RMB150 million (US$22 million) in Hsuanzhang, an online financial and tax services provider to small and medium enterprises in China.
New York Stock Exchange-listed Chinese education firm TAL Education Group has invested US$18 million series C+ round in Shanghai-based education online-to-offline (O2O) operator Changingedu.
Chinese alternative investment firm CDH Investments has led a US$120 million funding round in Chinese deep learning start-up SenseTime, with participation from Dalian Wanda Group, IDG Capital, StarVC and others.
Meitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, has completed offering 574 million shares priced at HK$8.50 apiece to raise net proceeds of approximately HK$4.688 billion (US$604 million).
French soccer club operator Olympique Lyonnais Groupe, in which IDG Capital Partners acquired a 20% stake for €100 million (US$112 million) during the summer, has established a joint venture to operate soccer schools in China.
China Everbright Ltd. (CEL) has teamed up with IDG Capital Partners to jointly launch Everbright-IDG Industrial Fund in China with RMB20 billion (US$3 billion) total committed capital to help mature Chinese companies grow and scale, says a company announcement.
Over 80% of chief executives among 134 venture-backed Chinese tech start-ups receive no salary or only get minimum living expenses, while senior online game developers make the most with medium annual total compensation of RMB670,087 (US$102,831), according to the results of a compensation study conducted by IDG Capital Partners.
New York Stock Exchange-listed SouFun Holdings, backed by the Carlyle Group and IDG Capital Partners, says it has made progress on a domestic backdoor listing of its online media and financial service units via a reverse merger, says a company announcement.