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.

Rong360.com Closes $30M Series B Financing

Rong360.com, an online private lending search service provider, is said to have closed US$30 million series B financing, according to Chinese media reports. The specific institutions involved in the funding round is not announced, but Sequoia Capital is reported to be the lead.

Venture Capital Fundraising Plummets in China

Chinese venture fundraising sunk to just US$73 million across two funds during the second quarter, a decline of 71% in the number of funds and less than a tenth of the amount raised during the first quarter, according to a report by Dow Jones.

IDG, Sequoia Capital-Backed 500.com Files For $150M IPO

Shenzhen-based Chinese sports lottery website 500.com has filed for a US$150 million IPO on the New York Stock Exchange. The company has previously secured venture capital investments of several million U.S. dollars from IDG Capital, Sequoia Capital and SIG Capital in September 2007.

IDG Capital Invests In Phoenix New Media

New York Stock Exchange-listed Chinese media company Phoenix New Media Limited says that it has entered into definitive agreements with IDG Capital Partners for it to invest millions of U.S. dollars to help accelerate Phoenix New Media’s development of its Phoenix FM App business.

IDG, China Lodging $56M Private Placement In Quanjude Gets Board Approval

Beijing-based Chinese catering chain Quanjude Group Co. Ltd. says the company plans to raise a total of RMB350 million ($56 million) by offering 24.95 million ordinary shares through a private placement. The deal has been approved by the company’s board, according to a regulatory filing. IDG Capital Partners and China Lodging Group, a domestic hotel group, will subscribe the new shares of the Shen Zhen Stock Exchange-listed Quanjude. IDG will purchase 17.8 million of the shares for RMB250 million, holding …