Chinese construction machinery manufacturer Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to establish an industry investment vehicle with a fundraising target of RMB3.21 billion (US$481 million) to capitalize on industrial consolidation and state-owned enterprise reforms. China's central and local governments, as well as state-owned enterprises (SOE) and industry associations, have been launching industry […]
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HNA-Caissa Travel Group has led a RMB550 million (US$82 million) series B financing round in a travel financial services subsidiary under the HNA Group. HNA-Caissa Travel, 31.79% owned by the HNA Group, will own 7.94% stake and become the second largest shareholder of Yisheng Jinfu Holding Group, a HNA unit focused on providing travel-related financial […]
The Industry of Virtual Reality Alliance has been established in China as part of the government's effort to partner with …
Live streaming mobile app Huajiao Live Video, backed by Qihoo 360 Technology Co. Ltd., has raised RMB300 million (US$45 million) in a series A funding, in yet another deal in the red hot live video sector. The lead investor is a Chinese state-owned entity named Zhongshoujian, whose identity cannot be verified. Qihoo 360 also joined […]
Foreign mobile advertising companies are prohibited from gaining an operating license in China, so it makes sense for a foreign …
China's largest Internet companies, including Alibaba Group Holding and Tencent Holdings Ltd., are rushing to establish themselves as leaders in the smart car revolution with distinctively different strategies. These tech giants want to shape the future of the world's largest automobile market, which despite a growth deceleration still expanded 7.3% in new vehicles sold last […]
China's Ministry of Industry and Information Technology (MIIT) has teamed up with companies and research institutions to establish a virtual reality (VR) industry alliance to enhance the development of the VR ecosystem in China. The association, named the Industry of Virtual Reality Alliance (IVRA), will do so by promoting technology innovation and the formulation of […]
CAC Capital Management, a Shenzhen-based venture and private equity firm, has agreed to acquire the China business of Denmark's NKT Holding, a cables and wires supplier. The deal has an enterprise value of €14.3 million (RMB107 million), says an announcement. "We have been in China for a long time and executed well on some milestone […]
The Li Ka Shing Foundation, a charitable organization founded by Hong Kong tycoon Li Ka-shing, disclosed that Li and three of his foundations have purchased 2.8% of Postal Savings Bank of China Co. Li Ka-shing has absolute confidence in the Chinese bank, and is investing as a personal long-term investment, according to an announcement. Li […]
Zhongnan Capital, a direct investment fund under Chinese property and construction conglomerate Zhongnan Holdings Group Co., Ltd., has invested nearly RMB100 million (US$15 million) in Owtware (Shanghai) Technology Ltd., an enterprise Software as a Service (SaaS) firm. "Cloud computing has become the core of the IT sector, and is increasingly driving enterprise innovation," says an […]
Huasheng Capital, a venture capital unit of Chinese investment banking firm China Renaissance Partners, has led a new funding round in ZMlearn.com, an online education start-up. The company says it will use the proceeds, amounting to hundreds of millions RMB, to improve the network of partnering teachers, enhance its online exercise database, and further cooperation […]
Principle Capital and Shanghai Elegant Investment Co., Ltd have led a RMB300 million (US$45 million) funding round in Hongyuan Era Sports Industry Group, a Chinese sports training, events and technology company. The two investment firms are both founded by former executives at Huaxia Fund Management Group Ltd., a Chinese investment management firm. Enthusiasm in the […]
LeEco's cloud computing unit has led a RMB360 million (US$54 million) funding round in Panda TV, an online live video streaming platform launched by Wang Sicong, the son of Dalian Wanda Group chairman Wang Jianlin. In return, Le Cloud will own around 15% of Panda TV, indicating that the one-year-old start-up is valued at RMB2.4 […]
Lightspeed Venture Partners, Sinovation Ventures and Chengwei Capital have participated in a series B+ round in A.I. Nemo, a Chinese smart hardware and robotics start-up. Founded in 2014, Beijing-based A.I. Nemo has raised nearly US$30 million combined in a series A and series B funding round, the company said without giving out specific financial details. […]
Shenzhen-listed Aier Eye Hospital Group Co., Ltd. has agreed to invest US$30 million in Qihoo 360 Technology Co. Ltd. to capitalize on a potential A-share listing of the privatized Internet company at a much higher valuation. The investment, to be done via a subsidiary of Aier Eye Hospital, is a first for Qihoo 360 after […]
Translink Capital, Hina Group and China Aviation Industrial Fund have jointly invested in a series A round worth around US$10 million in XGene, a Chinese smart device start-up. Founded in 2011, Beijing-based XGene focuses on developing ultra-small, long-distance and high-precision automotive binocular technology that can be used on self-driving cars, drones, robotics and other smart […]
Chinese private equity firm Orient Hontai Capital has agreed to acquire a majority stake of San Francisco-based advertising technology start-up AppLovin for US$1.42 billion. "We started the business five years ago, back before Facebook had even launched mobile advertising, because there were no good ways for app developers to promote themselves," says Adam Foroughi, AppLovin’s […]