Gaocheng Capital

Gaocheng Capital hits $100m first close for maiden PE fund

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Gaocheng Capital was founded by Jing Hong, a former partner at Hillhouse Capital.

JD arm, Dongfeng Motor among six firms to invest $354m in China Railway unit

It did not specify how the 15 percent stake was divided up between the six firms but added that the deal could eventually aid plans for CRSCS to go public.


Legend leads $29m round in China’s Sciwind Biosciences

Sciwind Biosciences is a drug research and development company targeting metabolic diseases.


Chinese ride-hailing giant Didi Chuxing to cut 15% of its workforce

Despite the cutbacks, Didi intends to add 2,500 people to focus on areas from its international expansion to safety and product engineering.


Alibaba in talks to buy stake in China operations of retailer Metro

Alibaba’s interest comes after rival Tencent last year signed a partnership deal with France’s Carrefour.


Alibaba-backed hospitality tech firm Shiji acquires US startup IcePortal

Shiji had in early 2018 secured an investment of $486 million from Chinese internet giant Alibaba in exchange for a 38% stake in a subsidiary.


Ascendas-Singbridge selling 45% stake in Shanghai assets to Mitsui

The value of the deal was not disclosed but Japanese financial research provider DZH Financial Research said it is close to $162.2 million.


Alibaba said to take 8% stake in Chinese video platform Bilibili

Bilibili is one of China’s leading online video sharing and entertainment platforms and was listed on Nasdaq in March 2018.


Ant Financial buys UK-based payments firm WorldFirst in big overseas push

The deal marks Ant’s biggest overseas deal since its bid to acquire US-based MoneyGram was thwarted last year.


People Digest: BNP Paribas AM hires APAC Head; StepStone names new partners

BNP Paribas has hired Paul Sandhu as head of multi-assets quant solutions and client advisory for Asia Pacific.