Shenzhen-based Kuang-Chi Group has invested US$50 million via an investment fund it set up in May. It is targeting to invest the remaining US$250 million in robotics, Internet of Things (IoT), telecommunications and digital health start-ups around the world, the company announced today. The US$300 million Global Community of Innovation (GCI) Fund was launched in […]
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Alibaba Group Holding Ltd. plans to raise a RMB10 billion (US$1.5 billion) investment fund to support China's cultural, media and entertainment sectors, as the e-commerce giant aims to capture a larger share of Chinese consumers' leisure time. At the same time, Alibaba plans to establish a separate cultural and entertainment group with the vision to […]
Since 2015, 92 companies globally have raised capital or were sold at a lower valuation in major transactions, in what venture circles call down rounds or down exits, according to data tracker CB Insights. There are quite a few Chinese companies on that list. Here, we list some of the biggest down rounds that would […]
Chinese alternative investment firm Genesis Capital has led a RMB100 million (US$15 million) series B funding round in Knowbox, an education mobile app start-up focused on helping students and teachers manage their homework. Existing investor Legend Star also participated in the round, which gives the company a post-money valuation of US$100 million. Established in 2014, […]
A unit of State Power Investment Corporation of China has agreed to pay Abraaj Group US$1.77 billion for a controlling stake in Pakistani utility company K-Electric, allowing the emerging market-focused private equity firm to exit from an investment it made seven years ago. "(We) will leverage (our) own strengths as a strategic investor and further […]
Smallville Capital, CSC Group and China's SME Fund have invested RMB900 million (US$133 million) in a Shenzhen-based lithium battery company BAK Battery. The company said it had raised RMB800 million (US$118 million) earlier this year from Shenzhen-listed industrial firm, Wuhu Token Sciences Co., Ltd. Founded in 2001, BAK has three main businesses, including lithium battery, […]
The US$1.4 billion IPO from ZTO Express is the first listing of a Chinese express delivery firm in the U.S. It opens a rare window through which global investors can gain a peek inside China's gigantic and ultra-competitive express delivery industry. I had the chance to speak with Liu Xing (pictured), a director on the […]
The Abu Dhabi Investment Authority (ADIA) has opened an office in Hong Kong, marking its first on-the-ground presence in the territory. It also announced the appointment of Dong-Sinh Ngo as chief representative Asia Pacific based in Hong Kong. ADIA Hong Kong will act as a platform for ADIA to broaden and deepen its network of […]
As venture deal value in China collapsed 64% to US$3.9 billion in the third quarter from US$10.9 billion last year, healthcare investments in the country held up relatively well as investors remain bullish on the sector. A total of 48 venture capital and private equity deals took place in China's healthcare sector during the third […]
Ten Chinese angel and venture firms, including the Zhen Fund, Innovation Angel Funds and CAS Star, have jointly launched an accelerator focused on artificial intelligence and big data. The objective is to incubate the next great companies comparable to China's current technology giants such as Alibaba, Tencent and Baidu. The accelerator will concentrate on artificial […]
Shenzhen Topband Co., Ltd. has led a RMB110 million (US$16 million) series B funding round in Chinese smart home solutions provider Orvibo, with participation from existing investor SAIF Partners and others. Shenzhen-listed Topband manufactures a wide range of electronic products, including power bank, portable power and solar chargers, as well as smart control units. "We […]
China's WH Group Ltd., the world's largest pork supplier, said on Friday Chinese alternative investment firm CDH Investments plans to sell an aggregate HK$10.6 billion (US$1.37 billion) worth of shares to further reduce its stake in the company. CDH Investments plans to sell one billion WH shares at HK$6.25 each, reducing its stake in the […]
Beijing-based maternity and baby products e-commerce platform Mia.com has raised a new round of financing, the company's founder Liu Nan said in an internal letter. "We have completed a new round of financing, and our valuation continues to increase, indicating capital markets' confidence in industry leaders despite the so-called venture winter," Liu wrote in the […]
360 Cloud Disk published a notice on its official website stating that they will stop providing cloud disk services to …
China's Xiaomi has lost a key executive Chen Tong (pictured), an ex-editor in chief of Sina.com hired by the smartphone maker two years ago to help revamp its content platform. Chen will return to the media world, joining Phoenix New Media and its news app subsidiary Particle Inc. as president, according to Chinese media reports. […]
Shanghai-based logistics company ZTO Express, backed by Sequoia Capital and Warburg Pincus, has priced its initial public offering to complete a total offering size of approximately US$1.4 billion, in the biggest IPO in the U.S. this year. As the first Chinese courier service provider to list in New York, the company offered 72 million American […]
Gan & Lee Pharmaceuticals, a Chinese bio-pharmaceutical company backed by Qiming Venture Partners and other investors, is seeking a domestic IPO to raise RMB1.5 billion (US$221 million) two years after its first attempt failed. Beijing-based Gan & Lee was established in 1998 and focuses on researching and manufacturing recombinant human insulin and its analogues in […]
During the last two years until September 2016, seven new countries are now using the RMB for more than 10% of their direct payments by value with China and Hong Kong, bringing the total to 57 countries worldwide, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The 10% milestone, also known as "crossing […]
Ant Financial Services Group, a financial services affiliate of Alibaba Group Holding Ltd., is rumored to be in discussion with Beijing Guoan Football Club to take a 40% stake in the Chinese Super League participant. Ant Financial will become the largest shareholder, if the deal proceeds as expected, while Guoan's existing control shareholder CITIC Group […]
China's Advantech Capital Partners Ltd. has led a US$65 million series B funding round in a two-year-old Chinese robotic start-up Rokid at a US$450 million valuation. Existing investor IDG Capital Partners and new investor Walden International also participated in the round. Founded in 2014 by Misa, formerly the head of Alibaba's advanced technology research unit […]