Chinese private equity firm JD Capital claimed it is not in the business of private equity in order to enter a planned innovation market in the country's New Third Board, attracting regulator examination and industry controversy. After a list of companies allowed to go into the innovation market was revealed last week, numerous private equity […]
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China Everbright Ltd. (CEL) has teamed up with IDG Capital Partners to jointly launch a M&A investment fund in China with RMB20 billion (US$3 billion) total committed capital to help mature Chinese companies grow and scale, says a company announcement. The IDG-Everbright M&A Investment Fund has completed the first round of fundraising of RMB10 billion, […]
Fifteen years ago, some staid Chinese manufacturers got sexy by calling themselves Internet companies, and China Unicom's latest move into …
Following Foxconn's USD3.5 billion acquisition of Sharp, the Taiwanese company will position the new executive team in July to accelerate …
Sequoia Capital, Matrix Partners, 500 Startups, virtual reality (VR) firm HTC and dozens of other investors have formed a Virtual Reality Venture Capital Alliance, aiming to invest US$10 billion in the VR and augmented reality (AR) sectors globally. The Alliance will meet six times a year in Beijing and San Francisco, hoping to invest in […]
China Logistics Property Holdings, formerly known as Shanghai Yupei Group with backings from RRJ Capital, Temasek Holdings and the Carlyle Group, has attracted Anbang Insurance and Sino-Ocean Group as cornerstone investors for a planned Hong Kong IPO, according to media reports. The cornerstone investors will subscribe to over half of the shares being offered in […]
Human bodies can live up to 250 years. Afterwards, brains can be transferred to computers, allowing eternal life in a digital heaven. And this will happen during your lifetime. Such is the belief of Wang Jun, former chief executive of Chinese genome sequencing firm BGI and founder of iCarbonX, a start-up that raised RMB1 billion […]
Tianfeng Securities has led a series B round in Blue Whale Media, an online business media start-up, with participation from Xiaomi Inc., Cheetah Mobile and other unnamed investors. The round is worth around RMB100 million (US$15 million), following a RMB50 million series A the company completed last July and a strategic investment from parent company […]
Despite horrid pollution and congestion, Chinese cities might become "smart" than any other city in the world. That's the conclusion of a Ernst & Young research report on China's machine-to-machine (M2M) market, which means direct communication between connected devices such as smart meters, smart grid and smart cities. China's M2M market is already leading the […]
Intel Capital has appointed four new managing directors, including naming Anthony Lin (pictured) as head of the Greater Asia region, the firm announced in an email today. Anthony Lin is to lead all equity investments, acquisitions and strategic business development for the Greater Asia Region. Lin joined Intel’s M&A team in 2008 and has executed […]
China’s sovereign wealth fund China Investment Corp. is to appoint Shanghai’s deputy mayor Tu Guangshao (pictured) as its new general manager, replacing 60-year-old Li Keping who is retiring after heading the entity for the past two years, Chinese state media reported. Tu, 57, was previously head of the Shanghai’s Stock Exchange, a deputy chair at […]
Matrix Partners China, NEA and Greylock Partners have invested US$20 million in a Chinese business data analytics start-up GrowingIO, the company announced today. Established in May 2015 with founding members from LinkedIn and eBay, GrowingIO provides easily installed software to companies for the purpose of collecting key data about their businesses. "Understanding user behavior is […]
China Mobile Innovative Business Fund (Shenzhen) Partnership has led a US$100 million series D round in Beijing-based mobile Internet recruitment service provider Liepin.com, the company announced today. Matrix Partners China and several other Chinese investment firms also participated in the round, which values Leipin.com at nearly US$1 billion. China Mobile Innovative Business Fund (Shenzhen) Partnership […]
A venture unit of China Merchants Group has led a RMB70 million (US$10.5 million) series C round in BroadLink, a Platform as a service (PaaS) start-up for the Internet-of-Things (IoT) sector. Innovation Works also participated in the round, the company announced. BroadLink's PaaS helps smart home devices to connect with existing devices. Founded three years […]
Vision Plus Capital, Sequoia Capital, Wang Sicong and Luoji Siwei have invested US$25 million in a series A round for audio-based knowledge sharing platform Fenda. The company announced the news at a press conference today, after its founder revealed the financing round earlier this month via Wechat. The round values the platform, which was launched […]
Two years after buying Chinese fast food restaurant chain Da Niang Dumplings, CVC Capital Partners is reportedly in the process to sell the company amid mismanagement accusations and declining performance, Chinese media reported. The private equity firm has approached several investment banks and held discussions with multiple Chinese restaurant chains, says the reports. CVC denies […]
Lightspeed China Partners has closed its third U.S. dollar fund securing US$260 million, and a debut RMB fund with total capital commitments of RMB500 billion (US$75 million), the company announced. The firm says the third U.S. dollar fund was on the road for three month. A dual-currency fund structure will help Lightspeed to better support […]
A management buyout deal backed by Boyu Capital and Hillhouse Capital was unable to reverse course of China's Autohome Inc.'s sale to Ping An Insurance Group. Ping An said it had acquired a 47.7% stake of Autohome from its largest shareholder Telstra Corp. for US$1.6 billion to control the online Chinese automobile information platform. At […]