Alibaba Group Holding Limited, SoftBank Group Corp and Foxconn have led a US$500 million new funding round in Indian e-commerce firm Snapdeal, according to a Twitter message posted by the company's CEO. Existing investors Temasek Holdings, BlackRock, Inc, Myriad and Premji Invest also participated. In October 2014, SoftBank invested US$627 million in SnapDeal, which is […]

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Tencent Holdings Limited has invested US$50 million in Canadian chat start-up Kik Interactive Inc. in a round that values the six-year-old company at US$1 billion, according to a company statement. Founded in 2009, Kik has raised nearly US$40 million in financing from investors including Valiant Capital Partners, Millennium Technology Value Partners and SV Angel. Waterloo, […]

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A six-months-old healthcare O2O (online-to-offline) start-up founded by Shanghai Pharmaceuticals Holding Co., Ltd. has completed RMB1.112 (US$174 million) series A funding with participation from JD.com Inc. and IDG Capital Partners, according to a securities filing. Shanghai Pharmaceuticals, listed on the city's stock exchange, is leading the round, injecting RMB900 million (US$141 million) via a share […]

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Asia-focused alternative investment management firm Hillhouse Capital Management has secured US$200 million capital commitment from Stanford University, according to media reports. Representatives at Hillhouse cannot be reached to confirm the news. Hillhouse, with over US$18 billion under management, is reportedly partnering with Tencent Holdings Limited in July to launch a Chinese public equity investment fund. […]

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San Francisco-based home-sharing platform Airbnb Inc. has established a partnership with Sequoia China and China Broadband Capital to widen its foothold in China, according to a company announcement. The two China-focused venture capital firms will help find a chief executive officer for Airbnb's China business and to expand its presence in the country. In June, […]

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Chinese multi-brand apparel group Shanghai La Chapelle Fashion Co., Ltd. has teamed up with Legend Capital to launch a RMB153 million (US$24 million) investment fund, according to a company announcement. La Chapelle, backed by Legend Capital, Boxin Capital, Shanghai Ronggao Venture Capital, Asia Alternatives Management LLC. and Orchid Asia Group Management Ltd., will contribute RMB150 […]

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Seven Immigration Department officers and three Hospital Authority officers have been sent to Thailand to assist Hong Kong residents affected by the Bangkok explosion.

The officers, including a doctor, a psychologist and a counsellor, will visit hospitals to give advice to the injured on issues such as medical transfer.

So far, it has been confirmed that two Hong Kong residents died and six were injured in the explosion.

Five of the injured are staying in local hospitals for treatment and one has returned to Hong Kong.

Family members of the deceased arrived in Thailand last night accompanied by an immigration officer and completed body identification formalities.

Immigration officers have arrested 14 illegal workers and two employers in an anti-illegal work crackdown.

They raided seven locations in Sha Tin and Kwai Tsing, including a grocery store and a beauty salon.

Parallel goods trading activities were also detected in Sheung Shui and Lok Ma Chau. The goods involved milk powder, food and electronic products.

The department reminded employers not to hire illegal workers and warned visitors not to take up employment in Hong Kong without permission from the Director of Immigration.

Sacramento, California-based cancer screening biotech firm Anpac Bio-Medical Science Co., Ltd. has completed series A round of funding from Shanghai Zhangjiang Science & Technology Investment Corporation, according to a company announcement. The round is worth several million U.S. dollars, says the statement. Anpac is focused on cancer screening and early cancer detection by analyzing simple […]

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Hangzhou-headquartered Chinese auto parts maker Wanxiang Group Corporation has teamed up with U.S. private equity firm Geolo Capital to invest US$1 billion in the U.S., according to a company announcement. The pair have already completed purchases worth US$400 million, including acquiring the luxury Ventana Inn & Spa in California from Walton Street Capital and Oaktree […]

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