China Dealbook: CDB leads $42m round in Wacai; Ruigu Shop raises $14m


In startup funding updates from China, fintech firm Wacai has raised $42 million from China Development Bank Capital, while Ruigu Shop, an e-commerce platform focused on the Chinese electrical hardware sector, has raised RMB100 million led by Chengwei Capital. CDB leads $42m round in Wacai Chinese financial technology firm Wacai has raised… Read more »

Three Wharton dealmakers bet future on China’s trucking sector with startup Huochebang

Venture-backed Truck Alliance is facing a trial by fire to win broad acceptance

As fund sizes increase, Asia-focused VCs hold one-third of global dry powder

Asia-focused dry powder levels up $21 billion from 2016-end.

China-backed fund Silk Ventures raises $500m for US and EU Startups

Silk Ventures will focus on fintech, artificial intelligence, medical technologies

AirAsia to launch new Chinese low-cost carrier with Everbright

AirAsia currently operates in India, Indonesia, Japan, Thailand & Vietnam.

KKR exits China Rundong Auto Group in stake sale to founder

KKR first invested $100 million in the dealership operator in 2010.

China Digest: HR startups KNX, CareerFrog raise funding

KNX has raised investment from a number of firms including Oriental Fortune Fund and Everbright Securities. CareerFrog has got a series B investment from Huatu Capital.

China’s sharing app boom floods sidewalks with bicycles

Business for Mobike, ofo and other apps has taken off in the past year

Chinese fintech firm Quantgroup, backed by movie stars, mulls US listing

The firm is looking to raise about $200 million.

BOCOM International prices HK IPO near bottom, raising $230m

BOCOM International Holdings Company, the Hong Kong investment banking arm of China’s fifth-biggest bank, priced its Hong Kong IPO near the bottom of expectations, underscoring the tough environment for financial companies in the Asian financial hub. The company, a unit of Bank of Communications Co Ltd (BoCom) , priced the… Read more »