A weekly newsletter summarizing recent activity in the Chinese startup ecosystem.

DEALS OF THE WEEK

Internet giants Tencent, Baidu inject $1B in auto portal Bitauto
Bitauto Holdings (2000, Beijing), a leading provider of internet content and marketing services for China’s fast-growing automotive industry, raises $1B in funding led by Tencent Holdings Ltd, Baidu Inc and JD.com. The company seeks to become China’s largest online car financing platform.  

INTERESTING FUNDRAISING ACTIVITY IN CHINA

Vanke Invests $440M In Chinese Online Real Estate platform Lianjia
Lianjia (2010, Beijing), a home sales and rental platform, raises $440M in funding led by China’s second-biggest property developer China Vanke Co., Ltd.

CITIC Securities Leads $400M Round In EV Battery Maker Microvast
Microvast Power System (2006, Stafford), an electric vehicle power system solutions provider and a subsidiary of U.S. and China-based Microvast, raises $400M in funding led by CITIC Securities with participation from CDH Investment, National Venture Capital and other unnamed investors.

China’s ClearVue Closes Second Fund At $362M
ClearVue Partners (2012, Shanghai), a Shanghai-based private equity firm, completes the final closing of its second fund ClearVue Partners II, L.P., at $362M. The new fund will focus on investments in the fast-growing consumer market including food and beverages in the Greater China region.

China Creation Ventures raises $220M fund to tap tech, life science segments
A newly established China focussed VC firm China Creation Ventures, raises first fund of $220M to invest in telecom, media and technology sectors. It is led by Zhou Wei, former managing partner at Kleiner Perkins Caufield & Byers China.

Tencent Invests $200M In 58.Com’s Used Goods Trading Platform Zhuan Zhuan
Zhuan Zhuan (2015, Beijing), a used goods trading platform operated under 58. com, China’s largest classified ads site, raises $200M in funding led by Tencent Holdings.

Sailing Capital Leads $60M Round In Chinese AI Firm SenseTime
SenseTime (2014, Beijing), a Beijing-based artificial intelligence startup, raises $60M in funding led by Sailing Capital International, RMB-denominated investment and loan fund created under the support of the Shanghai Municipal Government.

CITIC Joins $36M Series B Round In Chinese Mobile Health Firm More Health
More Health (2015, Beijing), a mobile health management platform, raises $36.3M in Series B led by CITIC Capital and a private equity fund jointly established by the Agricultural Bank of China and the Wuxi government.

China Creation Ventures Leads $16M Round In SME Credit Firm IceKredit
IceKredit (2015, Shanghai), a credit assessment service provider catering to small and medium-sized enterprises, raises $16M in Series A led by China Creation Ventures, a newly founded venture firm established by several former KPCB executives.

Bioventure, Tasly Lead $14.5M Round in Chinese Device Maker POCTech Medical
POCTech Medical (2010, Zhejiang), a manufacturer of portable or wearable medical devices, raises $14.5M in Series B led by Bioventure Investment Management Ltd. and Tianjin-based medicine and healthcare investment fund Tasly Great Health Industry Fund with participation from Northeast China-based Tonghua Dongbao Pharmaceutical Co., Ltd. and existing investor Legend Capital.

Qiming, Legend Lead $14M Series B Round In Chinese Clinic Operator QSICM
QSICM (2014, Xianyang), a community clinic franchise operator, raises $14.5M in Series B led by Qiming Venture Partners and Legend Capital.

HK-based Gravity Supply Chain raises additional $2.5M in venture financing
Gravity Supply Chain (2014, Hong Kong), a cloud-based supply chain and logistics visibility platform, raises an additional $2.5M round of venture financing, bringing aggregate equity funding raises to $7.5M.

Chengwei Capital Leads Series B Round In Chinese Bike Sharing Start-up Hellobike
Hellobike (2016, Shanghai), a Chinese bike sharing startup, raises an undisclosed amount in Series B led by Shanghai-based venture capital firm Chengwei Capital with participation from existing investor GGV Capital.

INVESTMENTS BY CHINESE INVESTORS AND COMPANIES

China’s CMC Capital Buys Stake In US Talent And Sports Agency CAA
CMC Capital Partners acquires a stake in Creative Artists Agency (1975, Los Angeles), a talent and sports agency firm, for an undisclosed amount.

Ant Financial’s Alipay merges with Lazada’s helloPay in consolidation move
helloPay Group (2014, Singapore), a payment platform for e-commerce firm Lazada, has merged with Ant Financial Services Group‘s mobile and online payment platform Alipay, an expected consolidation move after Alibaba’s $1B acquisition of  e-commerce major Lazada last year.

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