Cathay Innovation, a venture capital fund affiliated with Sino-French investment firm Cathay Capital Private Equity, and Serena Capital have led a series B financing round in Alkemics, a French retail collaborative platform. Index Ventures, Partech International and SEB Alliance also participated in the round, which is worth tens of millions U.S. dollars and is one […]
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Beijing-based private equity firm China Science & Merchants Investment Management Group (CSC Group) has agreed to a multi-million pound partnership with British start-up incubator Founders Factory to invest in artificial intelligence start-ups. No financial details were disclosed, but the two partners will jointly hire 60 people, invest in and grow five early-stage AI start-ups and […]
Emerging markets-focused investment firm Actis is seeking to raise US$2 billion for a new energy fund to back electricity generation and distribution businesses in Latin America, Africa and Asia. The vehicle has received commitments from the Employees Retirement System of Texas, a public pension fund with US$21 billion of assets, and Danish pension fund Industriens […]
GSR Ventures has led a series C financing round worth tens of millions U.S. dollars in Xuele, a K-12 online education platform. GSR Ventures previously invested in Xuexibao.cn, a similar K-12 online education platform that helps students do homework and provides online tutoring. Founded in 2002, Xuele operates Xuelecn.com and provides online study materials closely […]
The ratio of problem credit to total credit facing China's banks could triple to 17% by 2020, and banks may need to raise fresh capital of up to RMB11.3 trillion (US$1.7 trillion) if the growth of China's corporate debt does not slow, according to a report released by Standard & Poor's Global Ratings. The amount […]
Chinese online travel platform Tongcheng Network Technology Co., Ltd. has agreed to merge with Dalian Wanda Group's offline travel agency business, in a move that will accelerate Tongcheng's initial public offering plan. Beijing Wanda Tourism Investment, a unit controlled by the Wanda Culture Industry Group, will merge with a unit of Tongcheng via cash and […]