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.
Chinese search engine Baidu has invested in DigiOne, a Shenzhen-based mobile phone firm, according to a company announcement.
Chengdu, Sichuan province-based smart wearable maker Codoon.com has received 60 million yuan (around US$9.76 million) series A financing, according to Chinese media reports.
Chinese trousers retailer Shanxi Baiyuan Trousers Chain Management has acquired cross-boarder online B2C platform Shenzhen Globalegrow E-Commerce Co. , Ltd. for RMB1.03 billion (US$166 million) via cash payment and stocks swap arrangements, according to Baiyuan’s regulatory filing.
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).
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.
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.
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.
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.
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.
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.
Government-backed Shenzhen Capital Group Co., Ltd. has teamed up the Beijing Film Academy to launch a film and TV investment fund with a fundraising target of RMB5 billion (US$781 million), according to Chinese media reports.
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 …
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.
Beijing-based Dongtian Fashion, backed by a subsidiary of China International Capital Corp (CICC), Sequoia Capital and ChinaEquity Group, has filed a prospectus to offer shares on China’s National Equities Exchange and Quotations (NEEQ), China’s so-called New Third Board.
Chinese media mogul Bruno Wu has joined forces with online financial services firm Yucheng International Holdings Group Limited to launch a US$1.6 billion investment fund to back international film and television projects, according to media reports.
Beijing-based iPinYou, a programmatic digital ad buying firm, has completed a RMB500 million (US$78 million) new round of financing led by China Mobile Innovation Industry Fund, Beiguang Wenzi Gehua Fund and Shenzhen Capital Group.
Beijing-based study mobile app Afanti has completed US$60 million series B round of financing from Shenzhen Capital Group Co., Ltd., Fenghuang Xiangrui Internet Investment Fund and Lang Ma Feng Venture Capital, says Chinese media reports.
China’s national small and medium-size enterprises development fund has established its first investment vehicle in Shenzhen over the weekend, according to Chinese media reports.
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).
A sports investment fund co-established by Focus Media and FountainVest Partners has led a US$50 million series C round in Codoon, a Chinese sports and wellness service provider integrating mobile apps and wearables.
Baidu Nuomi Pictures, the film arm of Baidu Inc., has launched a RMB2 billion (US$303 million) film fund to invest in 30 movies in the next two years, the company announced at the Shanghai International Film Festival yesterday.
Chinese eSports start-up Wangyudashi has completed a RMB150 million (US$23 million) series A round from Shenzhen Capital Group Co., Ltd and other unnamed investors, according to Chinese media reports.
DouyuTV, a game and entertainment live broadcast platform in China, has raised a RMB1.5 billion (US$226 million) new financing round led by Phoenix Capital Asset Management and Tencent Holdings Ltd., according to Chinese media reports.
Chinese Internet company LeEco says its electric car affiliate Le Supercar has raised US$1.08 billion from Lenovo, Yingda Capital, a venture capital firm backed by State Grid, Shenzhen Municipality-backed Shenzhen Capital Group, China Minsheng Trust, Macrolink Group and Hongzhao Capital.
LeEco founder and chief executive Jia Yueting must have had a tough two weeks. Last week, LeEco could not show its anticipated electric smart car for its U.S. debut because the truck carrying "the car of the future" got into an accident while driving to the press conference.
Shenzhen-based rollable display developer Royole Corporation has completed raising RMB500 million (US$74 million) in a new round of financing from Warmsun Holding Group, the company announced.
Chinese RMB fund Huaxin Century Investment Group has led a RMB300 million (US$43 million) series C round in Frontier Biotechnologies Inc., a drug development bio-pharmaceutical company based in Nanjing. China.
Shenzhen Capital Group Co., Ltd. has teamed up with the Suzhou government and other entities to launch a big data-focused government guidance fund with a total fundraising target of RMB5 billion (US$732 million).
Companies in China’s manufacturing hub of Shenzhen are already having to adjust to higher labor costs, electricity bills and taxes, but many say restrictive trade policies threatened by U.S. president Donald Trump are their primary concern for 2017.
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 …