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Legend Capital, the VC agency spun off by China-based conglomerate Legend Holdings, closed its latest fund, LC Fund VIII, at $500m. The LPs included undisclosed current LPs in addition to company investment funds, sovereign wealth funds, family offices and personal pension funds. Founded in 2001, Legend Capital oversees about $8bn of assets beneath administration ..It focuses on growth-stage deals in areas such as enterprise software, client web, advanced manufacturing, healthcare and deep expertise.

The firm reportedly closed its first exterior funding round at $3.2bn in July 2020, at a $30bn valuation, having pulled in $750m from investors together with Fidelity, Perry Creek Capital and funds and accounts advised by T Rowe Price two months earlier. Alphabet, Magna, AutoNation, Silver Lake, Canada Pension Plan Investment Board, Mubadala Investment Company and Andreessen Horowitz had supplied $2.25bn for Waymo in March the identical year. Dor had been a venture partner at Eight Roads, a VC arm of US-based mutual fund supervisor Fidelity, since 2018 and led investments in FireBlocks, Gloat and ScyllaDB.

CMA is contemplating whether to make a reference under part 22 of the Act in relation to the acquisition. The UK Competition and Market Authority has launched an investigation into Veolia’s acquisition of a 29.9% stake of Suez, a resource management firm. “As we create the food company of the longer term, we’ll take a glance at all options fastidiously to gas our ambitious plans, especially with oatmilk and plant-based products.

The agency could additionally be taking a leaf out of Starbucks’ former arch-rival Luckin Coffee’s playbook in specializing in digital business. Luckin expanded swiftly in China utilizing the strategy earlier than changing into embroiled in a monetary fraud scandal. Tencent introduced the partnership on its Chinese social media accounts without disclosing any monetary details. Burberry signed an unique partnership settlement with Tencent final yr to develop social retail in China. The Shenzhen social retailer is the primary step in the partnership, taking interactions from social media right into a bodily retail setting.

The spherical values Tencent-backed Byju’s at $10.5bn – up from $8bn when it raised money firstly of this yr – and the company is focusing on $400m for the shut of the spherical. Neon Pagamentos has agreed $300m in funding through a two-tranche collection C round that includes PayPal Ventures and the BBVA-backed Propel Venture Partners. The digital bank, one of a new wave of Latin American tech companies elevating massive rounds, has earmarked the funding for hiring, technology improvement and the enlargement of a user base that currently takes in some 9 million shopper and enterprise accounts.

Daisy Cai, former associate at SoftBank’s Vision Fund, joined VC agency B Capital Group to open its China office. SoftBank has assigned two former managing partners at its Vision Fund, Akshay Naheta and Kentaro Matsui, to senior roles. Naheta took a senior vice-president place to mitigate the vehicle’s investment losses, offering strategic help to the administration group. Based in the United Arab Emirates, he had been leveraging his connections with Abu Dhabi sovereign wealth fund Mubadala Investment to help reviews increase the second Vision Fund. SBIA employed Naheta in 2017 after a stint at Knight Assets & Co, the UK-based funding agency he founded in 2011. Alphabet intends to speculate $10bn in India over the subsequent five to seven years via a Google for India Digitization Fund.

After final week’s large variety of startup fundings hitting 80, we came very shut this week, as 73 Chinese startups, growth stage, and pre-IPO corporations closed massive funding over the past 5 days totaling US$1.295 billion. And whereas final week we had a pleasant mixture of cryptocurrency, synthetic intelligence, and e-commerce corporations in China raising capital, this week’s highlighted firms are all from the biotech and healthcare sector. Investors in key offers this week embrace Lyfe Capital, HG Capital, Green Pine Capital Partners, Matrix Partners China, Oriza Holdings, Newley Capital, Yinglian Health Industry Fund, WuXi AppTec Group, and Sequoia Capital China. This is the May 21, 2021 edition of the China Money Podcast the place we replace you on the information, data, and insights you want for making non-public equity and enterprise capital choices in China.

In this episode of China Money Podcast, listen to all of the information headlines in the China venture investment and tech sector for the week ending September 17. In this episode of China Money Podcast, listen to all the information headlines in the China venture investment and tech sector for the week ending September 24. In this episode of China Money Podcast, hearken to all of the information headlines in the China enterprise funding and tech sector for the week ending August 6. JHL Biotech has raised an undisclosed sum from traders together with Sanoft at a $750m valuation and will put the money toward additional development of its biosimilar cancer therapies.

The merged enterprise might be valued at $2.2bn and can take up the itemizing on the New York Stock secured by Broadstone via a $300m preliminary public offering in September 2020. U.S.-based ride-hailing app owner Uber Technologies and Europe’s largest retailer Carrefour are to launch a new rapid grocery delivery service in Paris, extending their 18-month partnership, the two firms mentioned on Tuesday. Tencent Cloud and know-how companies supplier Acclivis Technologies and Solutions introduced that they’ve signed a strategic partnership to convey non-public, public and hybrid cloud and ICT options to enterprises in Southeast Asia, mainland China and Hong Kong. Through this partnership, Tencent Cloud aims to increase its footprint past China to offer its services in Southeast Asian markets. According to IDC, Southeast Asia is the fastest-growing cloud computing market and is anticipated to be valued at $40.32 billion by 2025, attributed in giant part to India. Kae, now govt vice-president of strategy and corporate development, joined SSIC in 2019 to assist Sohn “define and broaden the organisation’s mission and focus areas for brand new innovation and investment”.

Established in 1963, Seiyu is a nationwide supermarket chain in Japan with greater than 300 retail items. Viridor Limited is a leading UK waste processing and recycling company, working 10 Energy-from-Waste (“EfW”) vegetation as properly as Recycling facilities, a Collections enterprise and Landfills. Non-bank provider of pension recommendation, independent wealth management and non-life insurance coverage brokerage to each corporates and individuals in Sweden. A leading participant in China’s K-12 online small-class math tutoring sector, and primarily supplies 1v4 or 1v6 small class stay streaming programs. Provides engineered elastomer and thermoplastic options for medical, water, industrial and different end markets globally.

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