Beijing-based private equity fund-of-funds firm China Grand Prosperity Investment has signed an agreement to manage a public private partnership (PPP) fund in Nanjing city, according to Chinese media reports. Nanjing Jiangbei Development Fund is a fund-of-funds launched by the Jiangsu provincial government and a number of state-owned asset management firms. With an initial committed capital […]
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Hong Kong-based asset management firm OP Investment Management Ltd. (OPIM) says it plans to invest up to US$250 million in emerging onshore Chinese hedge fund managers to help them expand businesses offshore, according to a company announcement. OPIM will partner with parent Oriental Patron Financial Group (OPFG), a Hong Kong asset manager, to raise capital […]
Annabelle Long, founding managing partner of Bertelsmann Asia Investments (BAI), took eight years to make the strategic investment arm of media company Bertelsmann in China a top venture player. Mention BAI to any entrepreneurial-spirited person in Beijing or Shanghai, the name needs no introduction. Compared to IDG Capital Partners and Matrix Partners, BAI, founded in […]
Sanhua Holdings Group Company Ltd., a Chinese refrigeration and air conditioning components maker, has led a RMB150 million (US$23 million) series B round of financing in Yitu8, according to Chinese media reports. SR Capital, Ma Changwei, an early partner at Alibaba Group Holding Ltd., and several Chinese investors also joined the round. Founded in 2015, […]
A U.S. investor has challenged a management buyout proposal to take NASDAQ-listed Sinovac Biotech Ltd. private, saying the management and insiders made the bid one business day after the company received approval to produce a groundbreaking vaccine in China. In February, Chinese bio-pharmaceutical and vaccine firm Sinovac's chairman and CEO Yin Weidong and SAIF Partners […]
Berry Genomics, a Chinese genetic testing firm backed by Qiming Venture Partners and Legend Capital, is seeking to list in the A-share market via a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter, according to a disclosure filing (in Chinese). The Chengdu-based auto parts maker plan to acquire 100% of Berry Genomics through an […]