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.

Le Vision Pictures Raises $55.4M In Series B Financing

Beijing-based film production and distribution company Le Vision Pictures, Ltd. has raised RMB340 million (US$55.4 million) series B financing from Chinese venture firm CHT Capital and other unnamed investors, according to a company announcement. The latest round values the film company, founded in 2011, at roughly RMB4.8 billion (US$780 million).

SBCVC, SIG Lead $30M Series B In Codoon

Chengdu City, Sichuan province-based Chinese wearable device maker Codoon has received US$30 million series B financing from SB China Capital (SBCVC) and SIG Asia, according to the company’s official Weibo account. Codoon Launched its first wearable device for users to monitor their daily physical activities in 2010. It received RMB20 million angel investment from Shanda Interactive, and RMB60 million series A financing in March from Shenzhen Capital and CITIC Capital.

Xiaomi, SCGC Invest $13M In Chinese Food Delivery App

Shanghai-based food delivery app Yes, I Deliver has received RMB80 million (US$13 million) series A funding led by Xiaomi Inc., Shenzhen Capital Group Co., Ltd. (SCGC) and Hu Zeming, founder of Chinese mobile Internet firm 91.com, according to Chinese media reports. Founded in December 2013, Yes, I Deliver received undisclosed angel investment in March this year.

CITIC Securities, Shenzhen Capital Lead Series B For Hihey.Com

Beijing-based online art trading platform Hihey.com has received undisclosed series B round of financing from CITIC Securities and Shenzhen Capital Group Co., Ltd., according to a company announcement. The round values the art trading website at close to US$100 million. The company previously received undisclosed amount series A investment from Minsheng Banking Corp.

Shenzhen Capital, Matrix Participate $16M Series A In MoFang

Beijing-based mobile game media platform MoFang has completed RMB100 million (US$16 million) series A financing led by Shenzhen Capital Group, according to a company announcement. Existing investor Matrix Partners also participated in this round of financing. Founded in February 2013, MoFang received RMB10 million angel investment from Matrix Partners last June.

Fortune Venture Capital Leads $16M Series B In Youxiduo.Com

Shanghai-based mobile game media platform Youxiduo.com has received over RMB100 million (US$16 million) series B financing led by Fortune Venture Capital Co.Ltd., according to an announcement on its Weibo account. The company previously received millions of RMB series A financing from undisclosed investors in January 2014. Launched at the end of 2012, Youxiduo.com operates a mobile game sharing community, providing players with mobile game raiders, video game commentary, game classification rankings, and product reviews.

Baixing.Com Completes $354M Series E Round

Shanghai-based Chinese online classified advertising firm Baixing.com has reportedly received RMB2.2 billion (US$354 million) series E financing from CITIC, Suzhou High-tech Venture Capital Group, Shenzhen Capital Group, and other investors, according to Chinese media reports.

Rollable Display Maker Royole Raises $172M

Shenzhen-based rollable display developer Royole Corporation has completed RMB1.1 billion (US$172 million) series C round of financing, according to Chinese media reports. Investors in the round include IDG Capital Partners, Shenzhen Capital Group, Shenzhen Green Pine Capital Partners, AlphaWealth, Jack and Fisher Investment, as well as other undisclosed investors. Founded in 2013, Royole Corporation develops rollable display with thickness of only 0.01-0.1 millimeter. The screens can be applied to smartphones, mobile devices, computers and televisions. The company has operations in …

Shenzhen Capital Leads $31M Pre-B Round In 59Store

Shanghai-based 59Store, an O2O (online-to-offline) platform focused on serving university students in China, has completed RMB200 million (US$31 million) pre-B funding round led by Shenzhen Capital Group, according to Chinese media reports. Legend Capital and other unnamed investors also participated.

Leshi Plans To Buy Le Vision Pictures Unit For $1.5B

Venture-backed Le Vision Pictures, one of many affiliated companies of LeEco, is not going public and will be bought by its parent company instead. Shenzhen-listed Leshi Internet Information & Technology Corp. plans to acquire its film production and distribution unit Le Vision Pictures, Ltd. for RMB9.8 billion (US$1.51 billion) in a cash-and-stock deal, according to a disclosure filing (in Chinese).

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 …