Chinese tech giant Tencent Holdings Ltd. and Sequoia Capital China have invested in Chinese electric vehicle developer WM Motor, backing the second EV start-up in China for both investors. Tencent and Sequoia China previously invested in Chinese EV firm NIO, which is valued at US$2.9 billion.
Medlinker, a Chinese social networking platform for doctors, has raised a RMB400 million (US$60 million) series C round led by China Electronics Corporation Data (CEC Data), a data service provider under China Electronics Corporation, which is a state-owned conglomerate directly administered by the central government.
China’s Taikang Investment has led a US$32 million series B round in EOC Pharma Group, an oncology-focused development company, through its healthcare and consumer industry-focused Shandong State-owned Taikang Industry Development Fund.
Chinese venture capital firm Sequoia Capital China has led a RMB380 million (US$57 million) series A1 round in Xingbianli, a checkout-free convenience store operator that focuses on placing snack bars in offices.
Chinese used car and new car trading platform Chehaoduo, a unicorn listed in China Money Network’s China Unicorn List with US$1 billion valuation, has raised a US$180 million series B+ round.
Chinese venture capital firm Sequoia Capital China, Matrix Partners and Goldman Sachs have led a US$60 million series C round in Klook, a Hong Kong-based travel activities booking platform.
China’s Tencent Holdings Ltd. has led a US$4 billion new funding round in Meituan-Dianping, one of the largest on-demand local services platforms in China.
Hong Kong X Technology Fund, backed by Sequoia Capital China-led Hong Kong X-Tech Start-up Platform, has co-led a US$9.5 million funding round in Efinix, a U.S.-based start-up developing programmable product platforms and technology.
Chinese biopharmaceutical company Zai Lab Ltd., backed by Chinese venture capital firms including Advantech, OrbiMed Asia Partners and Qiming Venture Partners, has completed an initial public offering on the NASDAQ in New York, raising approximately US$150 million in total.
Qiming Venture Partners has led a RMB120 million (US$18 million) series B round in Infervision, a Chinese artificial intelligence start-up developing medical imaging technology.
China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.
Sequoia Capital China has led a US$200 million series D round in Vipkid, a Chinese K-12 online education platform, in what the company calls the largest funding round to date in the nation’s K-12 online education sector. Tencent Holdings Ltd., Matrix Partners China, Yunfeng Capital and Zhen Fund also participated in the round.
China-focused venture capital firm H Capital has led a US150 million series C round in Zuoyebang, a K-12 online education spin-off from Baidu Inc.
Investors are again throwing money at China’s online used-car e-commerce market. After a decade of massive new car sales, the Chinese used car market is growing fast and potential profits abound. But with the market highly fragmented and rival online-to-offline players burning cash faster than buyers can drive cars off the lot, one can’t help wondering if this market is about to crash, and which investors will get hurt.
Bertelsmann Asia Investments (BAI) and Qiming Venture Partners have led a series A round worth tens of millions of U.S. dollars in Shiyunji, a food court operator that employs mobile and cloud technology to streamline both sales and purchasing.
Asian alternative investment management firm PAG and China-focused private equity firm Primavera Capital Group have led a RMB800 million (US$117 million) series C round in Dashu Finance, a Shenzhen-based online lender of unsecured loans to small and micro enterprises that traditionally could not secure funding from banks.
Healthcare-focused investment firm OrbiMed Asia Partners has led a US$30 million series C round in Zai Lab Ltd., a Shanghai-based innovative biopharmaceutical company.
Sequoia Capital China has led a series A round in Dingxiang Technology, a Beijing-based Internet security systems developer, according to a company announcement. No financial details were disclosed.
Sequoia Capital China has led a US$400 million series B round in Guazi.com Inc., a Chinese online used car trading platform headed by Yang Haoyong, founder of Chinese online classified ads portal Ganji.com.
Chinese Internet giant Tencent Holdings Ltd. has led a US$145.5 million C round financing in Futu Securities, an online brokerage platform serving Chinese investors trading U.S. and Hong Kong-listed stocks.
Chinese conglomerate Fosun Group has led a nearly RMB100 million (US$14 million) series C round in CloudCare, a Shanghai-based cloud computing company. Existing investor Sequoia Capital China also participated in the round.
Sequoia Capital China and Perfect World, a Beijing-based culture and entertainment group, have led a new funding round in Zongheng Literature, a Chinese online reading platform backed by Baidu Inc.
CCB International, an investment unit owned by China Construction Bank, and Chinese venture firm HG Capital have led a US$100 million series D round in Chubao Technology, a Shanghai-based mobile communication app developer.
CBC Capital has led a US$26 million series C round in Cloudwise, a Beijing-based solution provider for cloud application performance management.
Chinese online video platform Qiyi.com Inc., a majority-owned subsidiary of Baidu Inc., has completed the issuance of convertible bonds worth US$1.53 billion to its parent and a group of investors, according to a company announcement.
Where will investors find the best opportunities in China’s education industry in 2017 and beyond? (This event will be held in Mandarin Chinese) As technology reshapes the face of modern education, investors in China continue to back companies positioned to benefit from the coming evolution. A total of 167 venture and private equity investment deals worth an aggregate of RMB10.6 billion (US$1.5 billion) were recorded in the education sector in China last year, greater than the 138 deals and US$1.03 …
The Medtronic-Sequoia China Healthcare Technology Venture Investment Fund, a US$60 million joint investment vehicle established by global healthcare firm Medtronic PLC and Sequoia Capital, has made an investment in Shanghai-based Forerunner Medical (Shanghai) Co., Ltd., according to an announcement.
Chinese personalized news app Toutiao says that it has raised US$100 million in series C financing led by Sequoia Capital, according to media reports. Sina’s Weibo also participated in the round, which valued the company at US$500 million.
Menlo Park, California-based Sequoia Capital disclosed that it has raised two venture capital funds to invest in China, according to security fillings.