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

DEALS OF THE WEEK

HK’s Affinity Partners closes fifth Asia-Pacific buyout fund at $6B
Affinity Equity Partners, a Hong Kong-based private equity firm, closed its fifth Asian buyout fund with a corpus of $6B.

INTERESTING FUNDRAISING ACTIVITY IN CHINA

China’s Bike-Sharing War Far From Over As Hellobike Raises $500M This Month To Escalate Competition
Hellobike (2016, Shanghai), a bike sharing firm, raised $152M in a D2 financing round led by Fosun Group and GGV Capital, taking the total Series D funding to $500M.

Intel Capital Co-Leads $133M Series A Round In Chinese Smartphone Maker Huaqin Telecom
Huaqin Telecom (2005, Shanghai), a smartphone maker, raised $133M in Series A round led by Intel Capital and Hua Capital. Summitview Capital, Walden International, Northern Light Venture Capital, and Qingkong Jinxin Capital Management (Beijing) Co., Ltd also participated in the round.

Lilly Asia Ventures Co-Leads $76M New Round In Chinese Biotechnology Company Sansure Biotech
Sansure Biotech (2008, Changsha), a biotechnology company focusing on molecular diagnosis and genetic testing techniques, raised $76M in a strategic financing round led by Lilly Asia Ventures and HighLight Capital. Junhe Capital also participated in the round.

Orchid Asia Leads $50M Series D Round In Chinese Podcast Sharing Platform Lizhi.FM
Lizhi.FM (2010, Guangzhou), a radio mobile app developer and podcast sharing platform, raised $50M in Series D round led by Orchid Asia Group and Evolution Media China.

C-Bridge Capital, BioBAY Lead $38M Series A Round In Biopharmaceutical Service Firm CMAB BioPharm
CMAB BioPharm (Suzhou), a contract development and manufacturing organization providing comprehensive pharmaceutical services to biopharma companies, raised $36M in Series A round led by C-Bridge Capital, and BioBAY, a Suzhou bio-medical and medical high-tech park.

SBCVC Joins $32M Series A+ Round In Chinese Genetic Sequencing Start-Up HaploX Biotechnology
HaploX Biotechnology (2014, Shenzhen), a genetic sequencing company, raised $32M in Series A+ round led by Youchoose Capital, SBCVC and Kexin Capital.

JD Logistics Leads $23M Financing Round In Chinese Truck Logistics Firm Fuyoukache
Fuyoukache (2014, Nanjing), a truck logistics firm, raised $23M in a funding round led by JD Logistics taking the total Series C funding to $59M. Existing investors Legend Capital, Eastern Bell Venture Capital and Global Logistic Properties Ltd. also participated in the round.

China’s National SME Development Fund Invests $20M In Computer Vision Start-Up DeepCam
DeepCam, a computer vision company, focusing on face recognition, gesture recognition, and object recognition technologies, raised $20M in Series A round led by National Small and Medium-size Enterprises Development Fund.

INVESTMENTS BY CHINESE INVESTORS AND COMPANIES

Chinese PE Orchid Asia mops up $1.3B for seventh fund
Orchid Asia Group, a Chinese private equity firm, raised $1.3B for its seventh fund Orchid Asia VII.

China’s Didi Rumored To Buy Failed Bike Sharing Firm Bluegogo As Didi-Ofo Relations Worsen
Didi Chuxing, a ride-sharing firm, reportedly acquired Bluegogo, a China-based bike sharing firm, for an undisclosed amount.

Ctrip-backed travel service firms Tongcheng, eLong to merge
Tongcheng Network and eLong Inc, China-based online travel service providers backed by Ctrip, agreed to merge into a new entity named Tongcheng-eLong, with Tencent becoming the major shareholder of the new entity.

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