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

DEALS OF THE WEEK

HK’s Henderson Land sells office tower to China’s Fans Group for $1.3B
Henderson Land Development Co Ltd, a Hong Kong-based property company, sold an office tower to Fans Group, a China-backed company, for $1.3B.

INTERESTING FUNDRAISING ACTIVITY IN CHINA

Hua Hong Semiconductor to raise $400M from China Integrated Circuit Industry
Hua Hong Semiconductor Limited (1997, Shanghai), a Hong Kong-listed pure-play foundry services provider, raised $400M in an undisclosed round from China Integrated Circuit Industry Investment Fund Co Ltd

Chinese Cloud Computing Firm Kingsoft Cloud Raises $220M New Round At $2.1B Valuation
Kingsoft Cloud (2012, Beijing), a cloud computing company, raised $220M in Series D+ round involving Shunwei Capital, Forebright Capital Management Ltd., Beijing Liyue Jinshi Investment Center (LP), and Kingsoft Corp. at a valuation of $2.1B.

Lightspeed, Gobi Join $145M Round In Chinese Consumer Finance Platform Black Fish
Black Fish (Nanjing), a consumer finance platform, providing users with comprehensive consumer finance services such as consumer loans, instalment and wealth management, raised $145M in Series A round involving Lightspeed China Partners, Gobi Partners, Morningside Venture Capital, JAFCO Asia, Fullcent Capital, and Zhang Tao.

Warburg, Genesis Capital Invest $120M In Chinese Online Tutoring Platform Zhangmen
Zhangmen (2010, Shanghai), an online tutoring start-up, raised $120M in Series D round led by Warburg Pincus and Genesis Capital.

Tiger Global And TAL Education Join $100M Round In Chinese English Education Platform DadaABC
DadaABC (2013, Shanghai), an online one-on-one English education platform, raised $100M in Series C round led by Tiger Global Management and TAL Education.

Advantech Capital, SDIC Lead $76M Round In China’s Biotech Firm KBP Biosciences
KBP Biosciences (2002, Jinan), a research-focused biotech company which targets medical needs in cardiovascular, infectious disease, respiratory, inflammatory and autoimmune diseases, raised $76M in Series A round led by Advantech Capital and SDIC Venture Capital. Sangel Capital, Ping An Ventures, Bay City Capital GF XINDE Life Science Investment Fund, Efung Capital, CASH Capital, Cowin Capital Group, Korea Investment Partners, and Elite Capital also participated in the round.

Chinese Cancer Genomics Solutions Start-Up Genetron Health Raises $61M Series C
Genetron Health (2013, Beijing), a cancer genomics solutions start-up, raised $61M in Series C round led by Zhongjin Kangrui Medical Industrial Fund. V Star Capital and Shenshang Xingye Fund also participated in the round.

GGV Co-Leads $50M Round In Chinese Used Luxury Goods Marketplace Xinshang
Xinshang (2015, Beijing), a customer to customer marketplace for secondhand luxury goods, raised $50M in Series C round led by GGV Capital and Joy Capital.

IFC proposes to invest $26M in Chinese upholstered sofas maker Morris
Morris Holdings Limited (2002, Hong Kong), a maker and seller of upholstered sofas, to raise $26M in undisclosed Series led by International Finance Corporation.

Cathay Capital Leads $10M Series B Round In Chinese Housing Price App 2Boss
2Boss (2013, Shanghai), a mobile app for housing prices, raised $10M in Series B round from Cathay Capital Private Equity, Lightspeed China Partners, and Recruit Strategic Partners.

HK-based AlphaConcepts raises $200k in seed round
AlphaConcepts (2017, Hong Kong), a nine-month-old influencer marketing platform, raised $200K in Seed funding from undisclosed angel investors.

Tencent Joins Orchid Asia In Series B Round In Chinese Online Music Tutoring Platform Peilian.com
Peilian.com (2014, Shanghai), an online music tutoring platform, raised an undisclosed amount in Series B round led by Tencent Holdings Ltd. and Orchid Asia Group. BlueRun Ventures, GSR Ventures and Long Capital also participated in the round.

CDH Invests In Chinese Medical Imaging Firm Huiyihuiying
Huiyihuiying (2015, Beijing), a medical imaging technology company, raised an undisclosed amount in a Series led by CDH Investments.

Google Joins Qiming, Shunwei In Series D Round In Chinese Online Game Streaming Platform Chushou TV
Chushou TV (2011, Hangzhou), an online game streaming platform, raised an undisclosed amount in Series D round from Google, Qiming Venture Partners, Shunwei Capital and Alpha X Capital.

China’s FAW Car Buys 10% Stake In Mobike’s Car-sharing Unit Mobike Chuxing
FAW Car Co Ltd., a Shenzhen-based passenger car maker, acquired 10% stake in Mobike Chuxing Technology Co., the car-sharing unit of bike-sharing firm Mobike, for an undisclosed amount.

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