Shanghai-based wealth management firm PGC Capital has teamed up with Pan-European asset manager McCafferty Asset Management Group to jointly launch an investment product focused on U.K. logistics warehouses targeted at Chinese investors. PGC Capital will start raising capital from Chinese institutions and individual investors who are looking for overseas investment opportunities. The targeted size of […]
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Everbright-IDG Industrial Fund, a joint venture investment vehicle established by China Everbright Ltd. and IDG Capital Partners, has invested RMB2 billion (US$297 million) in China UnionPay Merchant Services Co., Ltd., an acquirer handling payment services for China UnionPay-labeled cards. After the completion of the transaction, Everbright-IDG Industrial Fund will become the second largest shareholder of […]
Redpoint Ventures has closed Redpoint China I, a US$180 million fund to invest in early stage consumer and enterprise technology companies based in China, the firm announced in a statement. The fund will invest in about 25 companies with initial investments expected to average US$1 million to US$4 million. With offices in Beijing and Shanghai, […]
Walmart has made a US$50 million strategic investment in New Dada, formerly known as Dada and controlled by JD.com Inc., in another step deepening an existing partnership between the global retail giant and China's second largest e-commerce firm. New Dada was created in April from a merger between JD.com's O2O (online-to-offline) unit and Dada Nexus […]
GGV Capital has led a US$6 million series A financing round in Vincross, a Beijing-based robotics start-up, ahead of the company's launch of its first product, an all-terrain six-legged robot spider HEXA. Existing investor Zhen Fund also participated in the round, which the company says it will use for recruitment and research. Founded by Sun […]