Xiaoming Huang, a Chinese actor who co-founded celebrity fund StarVC, has launched a new venture capital firm called Ming Capital.
Zhaohui Wang, co-founder and formerly operating partner at Innovation Works, has launched a China-focused seed fund to invest in culture, media and sport-related assets.
Shenzhen Huoli Tianhui Technology, the parent company of Chinese flight management app Flights Manager, has raised RMB933 million ($144 million) in a Series C round of funding.
Yi Jiu Pi, a Chinese B2B online liquor retailer, has raised an extended Series B round worth RMB200 million ($30 million) co-led by domestic GPs Yuan Sheng Ventures and Eastern Bell Venture Capital.
China-focused PE firm Cybernaut has hired Matt Wang, formerly a vice president at IBM, as president and announced the launch of a RMB60 billion ($9 billion) M&A fund.
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Chinese electronics manufacturer TCL Group has partnered with Tsinghua Unigroup, an investment arm of Tsinghua University, to launch an industry M&A fund with a target of RMB10 billion ($1.53 billion).
The Asset Management Association of China (AMAC), a self-regulatory organization for the PE industry set up by the securities watchdog, has tightened rules on domestic fund managers’ registration, with a view to cracking down on financial scams.
The Beijing government has suspended domestic private equity investment registrations in relation to suspected illegal fundraising.
Qufenqi, a Chinese electronic retailer that allows buyers to pay in installments, has completed a new round of renminbi-denominated funding, having removed its variable interest entity (VIE) structure in preparation for an onshore listing.
China’s securities regulator has suspended listings and fundraising by domestic private equity firms on the National Equities Exchange and Quotation (NEEQ) system, also known as the New Third Board.
China Everbright has established a fund-of-funds with initial capital of RMB5 billion ($769 million) and a full target of RMB10 billion.
Redbud Capital, a VC fund-of-funds investment unit under Tsinghua Holdings, has reached a first close of RMB1 billion ($154 million) on its latest China-focused fund.
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Shenzhen Cowin Capital is poised to exit jewelry retailer Myray to Gansu Gangtai Holdings following the Shanghai-listed company's agreement to buy a further 36.96% of Myray for RMB170 million ($26 million).
Ameba Capital, an early-stage VC firm co-founded by former executives from Alibaba Group and Kingsoft, has closed its second renminbi-denominated fund at RMB1 billion ($157 million).
ChinaEquity Group, a Beijing-based private equity firm, has won regulatory approval to list its renminbi investment business on China’s National Equities Exchange and Quotations (NEEQ), also known as the New Third Board.
Fosun Group and the Zhejiang provincial government will launch a RMB10 billion ($1.6 billion) renminbi-denominated fund-of-funds (FoF), with a view to restructuring and transforming different industries.
Chinese fruit store chain Pogola has completed a RMB400 million ($63 million) Series A round of funding, with consumer-focused GP Tiantu Capital contributing RMB350 million.
Hony Capital is looking to raise $2 billion for its latest Greater China-focused fund. A first close of $1 billion is expected in mid-October.
Gobi Partners has formed a RMB600 million ($94.1 million) fund that will focus on seed, pre-Series A and Series A investments in early-stage Chinese companies.
Hong Kong-listed Shanghai La Chapelle Fashion, a ladies' apparel maker backed by a string of PE investors, has partnered with Legend Capital to set up a PE fund worth RMB153 million ($24 million).
Chinese venture capital firm Banyan Capital has raised RMB560 million ($89 million) for its second renminbi-denominated fund.
CDH Investments is looking to raise $600 million for a China mid-market fund, with half of the corpus in US dollars and the other half in renminbi.