Alibaba Group has agreed to buy Kanbox, a Chinese cloud storage service provider backed by SIG Asia Investment and DCM. The value of the deal was not disclosed.
Sailing Capital Management, an investment firm controlled by Shanghai International Group (SIG), has launched a RMB5 billion ($821m) buyout fund through its subsidiary, Shanghai Sailing Industrial Capital.
Shanghai-based fresh fruit e-commerce platform Fruitday has raised tens of millions U.S. dollars in series B financing, according to Chinese media reports. ClearVue Partners led the round. Existing investor SIG Asia Investments also participated. The company previously received several millions of RMB in angel investment in 2011, and several million U.S. dollars series A funding from SIG Asia Investments in 2013.
Eric Xu, former managing director at SIG Asia Investment has joined GGV Capital as managing partner. Xu will be responsible for GGV’s investments in innovation and applications related to the use of mobile phones and Internet in e-commerce, finance, and entertainment, the venture firm announced today.
Alibaba Group Holding Ltd’s cultural and entertainment group has fully acquired Damai.cn, a Bejing-based online ticketing platform, according to a company announcement.
China Merchants Venture Capital Management Co., Ltd., the venture unit of China Merchants Group, Forebright Capital, a former investment unit of China Everbright Ltd. and venture firm SIG have led a US$80 million series C round in Wecash, a Beijing-headquartered big data-based credit assessment company.
Venture capital firm SIG has led a US$22 million series B round in Yunxuetang, a Jiangsu-based employee training solution provider.
CBC Capital has led a US$26 million series C round in Cloudwise, a Beijing-based solution provider for cloud application performance management.
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.
DCM Ventures has led a US$31.8 million series B round in 51zhaoyou.com, a business-to-business petroleum e-commerce platform.
Abcfintech, a Chinese AI services provider targeting the financial services sector, has raised a total of US$30 million through an angel round and a series A round. Chinese venture capital firm Qiming Venture Partners led the round, with Source Code Capital, SIG Asia Investment and Welight Capital also participating, according to a company announcement.
Chinese peer-to-peer lending platform PPdai.com will seek an initial public offering on the New York Stock Exchange, the company said in a filing, marking the latest Chinese financial technology company to go public. PPdai.com is currently values as a unicorn on China Money Network’s China Unicorn List with a US$2 billion valuation.