Private equity firms to scramble for exit after China’s new tutoring rules
China’s move to ban private tutoring firms from making a profit from teaching core school subjects and raising capital is set to trigger a scramble among venture and private equity investors to find an exit after pouring billions of dollars into the sector. While stricter regulations were expected with China looking to ease pressure on children and […]
Chinese robotaxi unicorn WeRide bags over $600M in 5 months
It’s hard to keep up with the fundraising spree in China’s autonomous driving industry these days. Guangzhou- and California-based robotaxi company WeRide, which counts Renault-Nissan-Mitsubishi Alliance as one of its strategic investors, has raised over $600 million in just under five months from its Series B and C financing rounds. The four-year-old upstart said in May that […]
Israel-China medical fund to raise $300m for joint drug development ventures
The Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF), which seeks to promote and invest in Chinese and Israeli joint ventures in the biomedical field, said Monday it is raising a second fund for a total of $300 million (2 billion yuan). The GIBF 2 fund has already closed $200 million, and plans to raise an additional […]
DCP Capital in Talks for China Maternity Hospital Chain
Beijing-based private equity firm DCP Capital Partners is in talks to acquire one of the leading maternity and pediatric care hospital chains in China, according to people familiar with the matter. American-Sino OB/GYN/Pediatrics Services, also known as Meihua Hospital, could be valued at about $400 million to $500 million in a sale, one of the […]
PE Firms Are Feasting on China’s $5.5 Billion Logistics Deals
Deals targeting logistics companies in China have delivered the best start to the year on record, generating bumper profits for private equity firms. About $5.5 billion worth of acquisitions of Chinese logistics firms have been announced so far this year, the strongest first quarter ever, according to data compiled by Bloomberg. Warburg Pincus LLC and […]
Sports retailer Fanatics enters China via JV with Hillhouse Capital
Fanatics Inc, the world’s biggest licensed sports merchandise retailer, said on Thursday it is expanding into China through a joint venture with local private equity firm Hillhouse Capital Group, as the SoftBank-backed e-commerce platform mulls a potential public listing later this year. The move by Jacksonville, Florida-based Fanatics, whose annual revenue tops $3 billion, is […]
China Considers Requiring Ant to Sell Finance Investments, Source Says
Chinese regulators are studying plans to force Ant Group Co. to divest equity investments in some financial companies, curbing the company’s influence over the sector, according to a person familiar with the matter. The plans, which would involve pushing Ant to sell some of its minority shares in operations such as banking-related businesses, are part […]
Chinese regulators probe Ant Group’s equity investments – sources
Chinese regulators are reviewing equity investments held by Ant Group Co Ltd in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billionaire Jack Ma’s financial technology empire. Regulators are considering whether to instruct Ant to divest some of its investments, mainly in technology and fintech start-ups, if they […]
