Hong Kong-listed L’Occitane to buy skincare brand Elemis for $900m


L’Occitane said the acquisition will help bolster its growth globally and Elemis will leverage on the acquirer’s geographical presence to expand into new markets.

Viacom said to be in talks to sell majority stake in China operations

The move comes as the media conglomerate runs into trouble trying to scale its operations in the country after more than two decades of business there.

Alibaba-backed AI startup Megvii said to raise $1b IPO

Megvii is competing with the world’s largest AI startup SenseTime (both are Alibaba-backed) that itself is said to be in discussions to raise about $2 billion.

China Digest: Medbanks nabs $59m Series D; Shenzhen Lihexing snags $19m

Medbanks Network Technology, an oncology database firm, has secured $59 million in a Series D round led by CDH Investments and CLP Fund.

US pension fund LACERS commits $25m to Baring Asia’s seventh fund

US pension funds have been accelerating their Asia investments.

China’s Wanda files for US IPO of sports unit to raise up to $500m

An IPO of Wanda’s sports assets would include Infront Sports & Media AG and World Triathlon Corp.

World’s most valued AI startup SenseTime readies $2b fresh funding

The Beijing-based firm raised more than $1.2 billion last year including a round announced in May that valued it at more than $4.5 billion.

China Digest: BitRock snags $4m; ABC Tech raises Series B; Ant arm backs campus platform

Chinese social platform YeeCall has participated in the $4-million investment round of BitRock, the fintech platform it incubated.

People Digest: Principle Capital names Lau as VP; Jun to lead ICG Asia Pacific

Shanghai-based private equity firm Principle Capital has appointed Raymond Lau as a vice president of the firm.

China Renaissance K2 Ventures breaks ties with spin-off outfit Next Capital

K2VC has declared that it will cease all collaborations with Next Capital and will withdraw its status as LP on grounds of IP theft.