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. The sports fund, launched last month by Focus Media and FountainVest Partners with US$400 million to invest in sports companies in China […]
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Tencent Holdings Ltd. has invested US$40 million in Yuanfudao, the largest strategic investment made by the Chinese Internet giant in the K-12 online learning and teaching sector, according to Chinese media reports. "Yuanfudao is building a brand new mobile and online education product," says Li Chaohui, a manager at Tencent's M&A arm. "Its products have […]
Chengwei Capital has led a nearly RMB100 million (US$15 million) series A round in a Shenzhen-based mobile phone recycling start-up Huishoubao, with participation from CITIC Capital, according to Chinese media reports. Established in 2014, Huishoubao received several million U.S. dollar angel investment in August 2015. The company says it will use the latest proceeds to […]
Chinese companies that have unraveled their variable interest entity (VIE) structure hoping for a domestic listing may be forced to re-institute the the legal arrangements as domestic listings become harder to materialize. "A portion of (those Chinese companies) might reinstall their VIE and go back to list in the U.S.," says Orchid Asia Group's managing […]
British telecom operator BT just submitted an application to China's Ministry of Industry and Information Technology to gain a license …
How frustrating is it to conduct a search on China's leading search engine and not easily find the correct answer? …
Wan Jianlin, Asia's richest man, revealed his life in the private jet to the public in a debut live broadcast with a well-known Chinese talk show during the weekend. The chairman of Dalian Wanda Group was shown playing poker in his ultra luxurious private jet, and walking with over a dozen entourage across a plaza […]
KKR has announced the appointment of ex-Blackstone Group executive Rob Yang as managing director and Head of Greater China in the firm's real estate team, effective June 1, 2016, the global private equity giant says in an announcement. In the role, Yang will be responsible for sourcing investments and continuing to build KKR's real estate […]
Beijing-based television and film company Enlight Media has made an undisclosed investment in Maoyan, the online movie ticketing service provider of Meituan-Dianping after it span off the unit into an independent company, according to a company announcement. Post the completion of the strategic investment, Enlight Media will become an important shareholder of Maoyan and will […]
China's Tencent Holding Ltd. and its online ticketing arm Weiying Technology has agreed to make a US$85 million strategic investment in Korean entertainment firm YG Entertainment, according to a company announcement. YG Entertainment plans to issue new common shares amounting to US$55 million to a wholly owned subsidiary of Tencent and Fengying. At the same […]
China's securities regulator plans to tighten back-door listings, potentially subjecting such deals to the same requirements as initial public offerings, according to an article by state-owned Securities Times. Citing an internal training organized by the China Securities Regulatory Commission yesterday, the article says this is the first time any concrete written notes regarding stricter rules […]
As hundreds of Chinese companies queue up to list on China's domestic stock exchanges, many are forgoing the long wait via a shortcut: back-door listings via reverse mergers. Eyeing the elevated demand for A-share shell companies, a Beijing-based private equity firm China Science & Merchants Investment Management Group (CSC Group) has bought up at least […]
Qihoo 360 Technology Co. Ltd.'s online pharmacy marketplace 360 Haoyao has completed a RMB100 million (US$152 million) series A round of funding from SB China Capital (SBCVC), Lilly Asia Ventures and others, according to Chinese media reports. The timely move puts Qihoo 360 in direct competition with Alibaba Health Information Technology Ltd., the healthcare unit […]
Global private equity funds posted a modest recovery in the fourth quarter after a brief drop in the previous quarter, with a comparative benchmark for private equity performance released by State Street recording an overall return of 1.11% in the fourth quarter of 2015, the firm said in a release. "The biggest driver in the […]
Capital flowing into venture capital-backed financial technology (fintech) companies has driven investments in the sector in Asia to a new high in the first quarter of 2016. China, the dominant country in the region, attracted US$2.4 billion investment into venture-backed fintech companies from January to March through nine deals, compared to just US$300 million with […]
Chinese local police arrested 13 people at the small P2P (Peer-to-Peer) lender esudai.com in the city of Huizhou yesterday. Founded in 2010, esudai.com recorded total transaction value of over RMB7 billion (US$1.07 billion) with 330,000 investors lending out their personal savings via the online portal. The founders and managers at the company allegedly kept some […]
Alibaba Group Holdings Ltd. plans to team up with affiliate Ant Financial to invest an additional US$400 million in China's largest ride share company Didi Chuxing, according to Tencent Technology. It's not clear if the investment is part of a US$2.5 billion funding round Didi Chuxing is near closing now, or additional funding separate from […]
The Shenzhen Stock Exchange has made further disclosure requirements to Wanda Cinema Line Co., the movie theater arm of Chinese conglomerate Dalian Wanda Group, on its planned US$5.72 billion acquisition of Wanda Media. Concerned about high valuations of some recent public company-led deals, the exchange required Wanda Cinema Line to disclose the reasons behind the […]