At first glance, the investment strategy of veteran private equity manager Cynthia Zhang appears risky. As founder of recently launched private equity firm FutureX Capital, Zhang plans to make mid-to-late stage investments in promising Chinese tech stars, whose valuations are perhaps the highest in the world.
SB China Capital (SBCVC)and Youku Tudou are among investors who have likely lost tens of millions of U.S. dollars as popular Chinese youth video sharing platform AcFun shut down operations yesterday.
Yao Song, founder of upstart Chinese artificial intelligence (AI) start-up DeePhi Tech, has a nickname: "Boss Yao". The 25-year-old Tsinghua University graduate has been on a winning streak so far. After securing a victory at a national physics competition championship, Yao was admitted into China’s top university to study electrical engineering without having to take the university entrance exam. While at Tsinghua, he chaired a prominent student science association and organized innovation competitions on campus.
Beijing-based fintech company 9f Group has raised a massive new funding round from Cinda International Holding Ltd, a subsidiary of state-owned China Cinda Asset Management Co., Ltd., Focus Media Information Technology’s Chairman Jiang Nanchun, video game developer Youzu Interactive’s chairman Lin Qi and an unnamed Chinese industry fund.
China’s healthcare sector is seeing a flood of new capital from from non-professional investors such as Chinese coal mining and factory bosses, according to James Huang, a managing partner at Kleiner Perkins Caufield & Byers (KPCB) China, who focuses on life sciences. As a result, valuations have become excessive, forcing more experienced investors to adopt new strategies to get ahead of the "dumb money."
Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017 Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said.
YH Global, a Chinese supply chain management and logistics company, has raised RMB1.2 billion (US$182 million) in a series A round led by Chinese private equity firms Yonghua Capital and Co-Energy Finance. The round, participated in by Stone Capital, Tangrong Capital and Shenzhen Grandland Group Co., Ltd., values the company at US$1 billion, according to local media reports. China Money Network could not contact YH Global to confirm the facts prior to publication.
XW Laboratories Inc., a Chinese biopharmaceutical research and development company focused on neurological disorders, has raised US$17.5 million in a series B financing led by Elements Capital and WI Harper. New investo KTB Network, and all existing investors KPCB China, Johnson & Johnson Innovation and WuXi Venture, also participated.
In this episode of China Money Podcast, Gobi Partners managing partner Ken Xu speaks to our host Nina Xiang. Xu discusses what he sees as the next technology frontier markets in China, and how Gobi is investing in the artificial intelligence, Internet of Things (IoT) and new infrastructure-themed industries. You can read a Q&A and watch a short video of the interview. Don’t forget to subscribe to China Money Podcast for free in the iTunes store, or subscribe to …
Shanghai Sunmi Technology Co., Ltd., a smart point of sale (POS) terminal developer that is in the ecosystem of Chinese smartphone maker Xiaomi Inc., has raised a series C round worth hundreds of millions of RMB from undisclosed investors.
Best Inc., a logistic service provider backed by Alibaba Group, has revised up the amount of capital it is seeking to raise in an initial public offering in New York to US$1 billion, from a previous target of US$750 million in June.
Chinese co-working space operator UrWork says it has completed a RMB1.2 billion (US$179 million) pre-C financing round from a group of Chinese investors, which will help fuel its expansion in China and beyond.
中文版请点击这里 The China Healthcare Investor Forum 2017, hosted by China Money Network, will feature the nation’s brightest and most successful healthcare investors discussing key opportunities and challenges in one of the world’s hottest investment sectors. Register now to join leading deal makers from KPCB, CDH Investments, Lilly Asia Ventures and OrbiMed for an intimate and informative panel discussion and open Q&A. Then network with other attendees from top Chinese investment firms and healthcare company executives. Limited seats available. Click Here …
Chinese start-ups continue to redefine investor imagination and break new venture fundraising records. Xingtang miniKTV, a three-month-old company operating self-serving karaoke boxes in Chinese cities, has raised US$15 million from investors including Matrix Partners China, Vertex Ventures China, GSR Ventures and DCM.
Rapid Medical, an Israeli company focused on the development of neurovascular interventional devices, has completed a US$9 million series B financing to advance the commercialization of the company’s minimally invasive stroke treatment and prevention products.
Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.
China’s venture capital market made strong gains in the second quarter of 2017, as the total value of new venture investments more than tripled to US$10.7 billion, compared to US$3.5 billion recorded during the first three months of the year, according to a KPMG report.
Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally.
Entrepreneur Jeff Wang planned to start his company in Hong Kong in 2015, after obtaining a Ph.D. degree in mathematics from a prominent university in the U.K. The data expert wanted to use an analysis method called Topological Data Analysis, his Ph.D research topic, to help enterprises better analysis their data by visualizing it.
As city streets in China become a theater for the current venture capital-fueled bike rental start-up frenzy, the two biggest bike rental companies in the country, Shanghai-based Mobike and Beijing-based ofo, are both raising massive new financing rounds totaling nearly US$1 billion. Mobike is raising a new round worth several hundred million U.S. dollars, which would be its series E round 14 months after its official launch. The round would value the young start-up at as much as US$3 billion. …
In this episode of China Money Podcast, guest Jie Gong, a partner at Pantheon’s Asia Investment Team, spoke to our host Nina Xiang. Gong discussed new and important trends she sees in China’s private equity and venture capital space, and what the fund-of-funds manager looks for when considering backing funds in China.
Jiuxian.com, a Beijing-based alcoholic beverage e-commerce company backed by venture firms, said it plans to delist from China’s New Third Board and instead prepare for a listing on one of China’s main boards, according to a securities filing.
New Oriental Education & Technology Group Inc. has led a RMB90 million (US$13 million) funding round in Kaishuo Jianggushi, a children’s stories content provider.
SoftBank Group Corp has announced the first closing of US$93 billion for its global technology fund, SoftBank Vision Fund, which was launched last October by SoftBank and Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund.
Shenzhen-based rollable display developer Royole Corporation said that a Beijing-based investment firm has agreed to invest RMB400 million (US$58 million) in its series D financing round.
China’s BGI Genomics, Chinese life science investor Healthlink Capital and global innovation fund Future Planet Capital have invested an undisclosed amount of capital in Congenica, a U.K. clinical genomics software developer for inherited diseases.
The Chinese securities regulator is considering a new set of policies to allow venture firms to raise money via bond issuance in the capital markets, as part of a national campaign to simulate innovation.
Chinese mobile Internet company Cheetah Mobile Inc. says its live video streaming mobile platform Live.me Inc. has raised US$60 million from a group of investors including Matrix Partners China, Evolution Media China, Gobi Partners, IDG Capital and Welight Capital.
Banyan Capital, a Chinese venture capital firm focused on investment in early-stage telecom, media and technology start-ups, has led a series A round worth tens of million of U.S. dollars in Lizhiweike, a Shenzhen-based online education mobile app.
Chinese cleantech venture capital firm Tsing Capital, Germany-based Robert Bosch Venture Capital GmbH. and Japanese Sumitomo Corp have led a US$18 million series B round in Sensoro, a China and U.S.-based Internet of Things (IoT) sensor device and network technology company.
Fortune Capital has led a reported RMB100 million (US$14 million) series A round in Shadow Creator, a Shanghai-based visual reality headset device developer. Beijing-based investment firm Everest Venture Capital and Initial Venture Capital also participated in the round, according to Chinese media reports.