Greater China
China to Singapore: A VC invasion
Chinese venture capital firms are establishing and expanding operations in Singapore in response to challenges at home and to address the Southeast Asian market. Do they have staying power?
China battery maker WeLion secures $207m Series D
Beijing WeLion New Energy Technology, a China-based manufacturer of lithium-ion batteries, has raised CNY 1.5bn (USD 207m) in Series D funding led by Chengtong State-Owned Enterprises Mixed Ownership Reform Fund.
Hong Kong vs Singapore: New economy IPOs
Hong Kong and Singapore are both keen to attract listings by high-growth technology companies. Some of the targets are the same, but the strategic positioning is different
Hong Kong vs Singapore: No zero-sum game
Pandemic-related restrictions have dented confidence in Hong Kong as a private equity hub, while Singapore is on a roll. But gains for one don’t necessarily translate into losses for the other
Q&A: BlackRock’s Michael Dennis
Michael Dennis, managing director and head of alternatives strategy and capital markets for Asia Pacific at BlackRock, on co-investment, customisation, and what Asian investors want from alternatives
China's Giant Biogene trades up after $70m Hong Kong IPO
Giant Biogene, a China-based producer of skin treatments that use bioactive ingredients, gained nearly 10% on debut following a HKD 549.4m (USD 70m) Hong Kong IPO.
Dayone invests $63m in China liquor brand
China’s Dayone Capital has committed CNY 600m (USD 83m) to Guizhou Zhengong Spirits, a producer of mid- to high-end sauce-flavoured liquor, in what is described as an initial funding round.
Investors endorse 'long Chinese' thesis - AVCJ webinar
The shift from “long China” to “long Chinese,” which has gained traction as a soundbite as investors look to back local entrepreneurs in overseas markets, was highlighted once again during AVCJ’s China Private Markets Outlook webinar.
L Catterton hits first close on debut renminbi fund
L Catterton, a global private equity firm dedicated to consumer-focused investments, has reached a first close on its debut renminbi-denominated fund. The overall target is CNY 2bn (USD 275m).
China's Inspiration Capital closes Fund II on $82m
Inspiration Capital, a spinout from Qiming Venture Partners, has raised CNY 600m (USD 82m) for its second renminbi-denominated fund focused on cleantech and advanced manufacturing investments in China.
China used goods platform Plum gets $100m Series C
Plum, a China-based online retailer specialising in second-hand apparel and accessories, has raised USD 100m series C funding led by Zhuanzhuan Group, another used goods marketplace.
Q&A: China Creation Ventures’ Wei Zhou
Wei Zhou, founder of China Creation Ventures (CCV), on why local GPs are targeting Southeast Asia, working with Chinese entrepreneurs overseas, and the prospects for renminbi and US dollar funds
Deal focus: Reap looks beyond Hong Kong
Having proved its business model and build up a customer base in Hong Kong, small business credit specialist Reap will use part of its USD 40m Series A round to pursue international expansion
Hong Kong payments player Reap gets $40m Series A
Hong Kong-based financial technology company Reap has raised a USD 40m Series A - comprising equity and debt - led by Acorn Pacific Ventures, Arcadia Funds, and HashKey Capital.
Investcorp, Fung Capital launch $500m GBA fund
Bahrain-headquartered Investcorp and Fung Capital, the PE investment arm of Hong Kong’s Fung Investments, have established a USD 500m Greater Bay Area (GBA) fund.
Hidden Hill leads $330m round for Geely's China NEV unit
Farizon Auto, a new energy vehicle (NEV) brand under Chinese automaker Geely, has secured USD 300m in pre-Series A funding led by Hidden Hill Capital, a private equity arm of local warehouse operator turned logistics and infrastructure investment manager...
China IT maintenance player raises $27m
Chinese IT system operations and maintenance solutions provider Bizseer Technology has raised a Series C round of about CNY 200m (USD 27m) led by Firstred Capital.
China’s Welkin Capital puts IPO on hold
China’s Welkin Capital has paused a planned USD 300m London IPO for an entity seeded with assets from its debut private equity fund, citing macro uncertainty and market volatility.
Taking PE in-house: Less limited partners
Institutional investors continue to pursue more active roles in private equity, even as a souring macro backdrop makes the game harder to play. Talent is always the key variable
Profile: Charles Li
Charles Li became known as a financial markets reformist during his stint in charge of Hong Kong’s stock exchange. He continues in the same vein at the helm of fintech start-up Micro Connect
China EV brand Aion raises $2.5b
GAC Aion, an electric vehicle (EV) brand under GAC Group, a Chinese state-owned automotive manufacturer, has raised CNY 18.3bn (USD 2.5bn) in Series A funding at a valuation of CNY 103.2bn from 53 so-called strategic investors.
Globis leads $22m Series C for Japan's Trend Express
Globis Capital Partners has led JPY 3.3bn (USD 22.1m) Series C round for Japan’s Trend Express, a cross-border marketing and data analysis platform focused on Japan-China tourism.
China energy storage player Hithium gets $276m Series B
Xiamen Hithium Energy Storage Technology, a China-based battery manufacturer, has secured CNY 2bn (USD 276m) in Series B funding led by ABC International.
Advantage recruits partner, co-head for Asia ex-Japan
Japan’s Advantage Partners has hired Rahul Bhargava, previously of ADV Partners, as a partner and co-head of Asia ex-Japan. It coincides with the acquisition of a Japanese jewellery industry supplier.
