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 […]