Chinese Semiconductor Laser Manufacturer Everbright Photonics Raises $22M Series B Round

SDIC Venture Capital, a Chinese state-owned investment holding company, has joined the venture capital fund of Chinese Academy of Sciences, and Suzhou Chengxin Venture Capital to invest RMB150 million (US$22 million) in series B round in Chinese semiconductor laser manufacturer Suzhou Everbright Photonics Co. Ltd, according to Everbright Photonics’s announcement.

Oriza Seed Venture Capital Co-leads $150M Series C Round In Biopharmaceutical Firm Ascentage Pharma

Ascentage Pharma, a Chinese clinical-stage biopharmaceutical company dedicated to developing apoptosis-targeted therapies for cancer and other diseases, announced that it has raised a US$150 million series C round co-led by YuanMing Prudence Fund and Oriza Seed Venture Capital, as well as new investor Teng Yue Partners.

Chinese AI Chip Maker Cambricon Raises Massive Funding Round Led By SDIC Venture

Chinese artificial intelligence chip maker Cambricon Technologies Corp Ltd. has raised a series B round worth several hundreds of millions of U.S. dollars led by SDIC Venture Capital, a subsidiary of state-owned investment holding group China Reform Holdings Corp Ltd, China State-owned Capital Venture Investment Fund and its sub-fund Guoxin Qidi Fund.

foxconn US

Alibaba, Tencent And Baidu Invest In Foxconn Unit’s $4.3B IPO

China’s internet giant trio Alibaba Group Holding, Tencent Holdings Ltd, and Baidu Inc, known as the BAT, have joined some prominent state-owned investors to pick up stakes in Foxconn Industrial Internet Co.’s RMB27.1 billion (US$4.3 billion) initial public offering.

US Securities Regulator Blocks Chinese Takeover Of Chicago Stock Exchange

The U.S. Securities and Exchange Commission ("SEC") decision to block a Chinese-led investor group from buying the Chicago Stock Exchange ends a two-year campaign to turn the small , 136-year old exchange into a venue for international IPOs. It also marks the latest in a string of blocked deals involving Chinese companies trying to buy major U.S. assets.

As Trump Blocks Deal, Chinese Investors Seek Smaller, Earlier Stage Deals Outside US

Chinese investors overseas just can’t seem to get a break. First, the Chinese government strengthened its grip on overseas deals to slow capital outflows. Now, the U.S. government under president Donald Trump appears more protectionist than ever, blocking a growing list of Chinese investments in the U.S. in the name of protecting American business and security interests.

SDIC Fund Co-Leads $500M Round In Chinese Medical Equipment Firm

SDIC Fund Management Company Ltd., a private equity firm majority owned by China’s State Development & Investment Corporation (SDIC), as well as an investment arm under China Life Insurance Co., Ltd., have led a RMB3.3 billion (US$500 million) series A round in Shanghai United Imaging Healthcare, a medical imaging equipment developer.

China’s SDIC Fund To Buy 19.9% Of US Energy Storage Firm Maxwell Technologies For $47M

SDIC Fund Management Co., Ltd., a RMB50 billion (US$7.4 billion)-under-management private equity unit majority owned by China’s State Development & Investment Corporation (SDIC), has agreed to acquire 19.9% of U.S. energy storage and power delivery solution provider Maxwell Technologies, Inc. for approximately US$46.6 million in cash. SDIC Fund, which has significant investments in China’s energy storage industry, including top battery makers, new-energy market system integrators and OEMs in the China automobile and power grid industries, has agreed to purchase shares …

Innovent Biologics, Inc. Raises USD $260M in Series D Financing

– Capital Will Accelerate Expansion of Company’s Pipeline and Manufacturing Capacity of Innovative Therapeutic Biologics –

SHANGHAI, Nov. 29, 2016 /PRNewswire/ — Innovent Biologics, Inc., a leading biopharmaceutical company in China dedicated to the discovery, development manufacturing, and commercialization of high-quality biologics, announced today that it has raised $260 million in its Series D financing.

Future Industry Investment Fund (FIIF), a private equity fund managed by SDIC Fund Management Corporation Limited (SDIC Fund Management), a subsidiary of State Development & Investment Corporation, led the financing, along with other blue chip investors including China Life Private Equity Limited, Milestone, Ping An and Taikang Insurance Group. Innovent’s existing international investors, specifically Legend Capital, Temasek and Hillhouse Capital, also participated in this financing.

The funding will accelerate Innovent’s continued development of its robust pipeline of biologic therapeutics, several of which have entered clinical evaluation. Since its founding in August 2011, Innovent has built a robust portfolio of 12 product candidates for cancer, autoimmune disorders, ophthalmology and cardiovascular diseases. Innovent has filed eight IND applications and has four products in clinical development, three of which are currently in phase 3 clinical trials. Innovent’s achievements with its pipeline demonstrate the execution of the company’s strategy to rapidly bring innovative biologics to patients in China, a market still underserved by the therapeutic advances attained by biologic drugs worldwide.

Michael Yu, Ph.D., Innovent Biologics co-founder, Chairman and CEO, stated, "With the support from our investors and the Chinese government, Innovent has made significant progress in developing our portfolio of high-quality innovative products, building cGMP global-standard manufacturing and establishing global partnerships. We are gratified that our achievements have been recognized by a group of leading investors including SDIC Fund Management, China Life, Milestone, Ping An, Taikang Insurance Group and others. This financing will enable Innovent to better leverage the emerging opportunity in China to quickly develop affordable and high-quality biologic products to treat Chinese patients."

Simon Dazhong Lu, Managing Director of SDIC Fund Management, commented, "The Chinese biotechnology industry is in a golden period of rapid development, and Innovent is leading the way as the premier Chinese biologics company. We have conducted comprehensive due diligence on Innovent’s pipeline, drug development capability, product quality and manufacturing facilities, and believe that Innovent has huge potential and is expected to become a top-tier global biopharmaceutical company. We are pleased to invest and work with this elite team."

This Series D financing exceeded China’s previous record for reported biopharmaceutical industry investment and is one of the largest biopharmaceutical industry fundraising events in the world for both private and public financing markets in 2016. The financing will primarily support the accelerated development of innovative biopharmaceutical products, the expansion of manufacturing capacity and continued operations under rigorous cGMP requirements. Through this Series D round, Innovent has gained significant financial support from respected domestic and international investors as it advances the development of China’s biopharmaceutical industry as a whole.

About Innovent Biologics, Inc.

Founded in August 2011, Innovent aims to produce quality complex biopharmaceutical products that will be affordable to people in China and around the world. With its focus on innovation and global cGMP standards, Innovent stands out in China’s biopharmaceutical industry and has attracted investments from world-class financial firms such as SDIC Fund Management, China Life, Ping An, Taikang Insurance Group, Legend Capital, Temasek, Fidelity, Lilly Asia Ventures and others. In 2015, Innovent entered a strategic alliance with Eli Lilly & Company to co-develop and co-commercialize multiple innovative biologics in China, while outside of China Lilly develops and commercializes multiple immuno-oncology biologics within the alliance.

About SDIC Fund Management Corporation Limited

Established in July 2009, SDIC Fund Management Corporation Limited is an independent, professional private equity company. It currently manages and advises more than RMB 50 billion of capital for a wide range of institutional investors including financial institutions, social security funds, and state-owned and private capital. SDIC Fund Management Corporation Limited is one of the largest professional private equity fund managers in China.

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Investor and Media Contacts:
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China Mobile, SDIC To Launch $806M Joint Mobile Internet Fund

Hong Kong-listed China Mobile Limited and China’s state-owned investment holding company, State Development & Investment Corporation (SDIC), are placing big bets on the red-hot mobile Internet sector in China with the launch of a joint venture investment fund, according to a securities filing. The two parties plan to jointly establish an investment fund to invest in China’s mobile Internet sector, with China Mobile committing RMB1.5 billion and SDIC committing RMB1 billion. They will then target to raise RMB2.45 billion from …