By Ka Kay Lum
The fund surpasses KKR’s $9.3-billion third Asia-focused fund raised last year.
The investment is said to give Warburg Pincus a 50 per cent stake in NewEase China, an investor and operator of hubs and platforms for urban logistics infrastructure.
Fund VI, which is denominated in U.S. dollars, will focus on early stage investments. GSR manages about $2 billion and is also a backer of Ofo and Ele.me.
Alibaba Group Holdings Ltd has made a strategic follow-on investment in YCloset, a Beijing-based female clothes sharing platform.
Founded in 1999, Asia Medical specialises in heart surgery and cardiology and operates under the brand name ‘Asia Heart’.
Haidilao plans to use the proceeds to fund its international expansion into markets including the United Kingdom and Canada.
The latest funding round brings Tuhu’s total funding amount to date to $574.8 million.
Chinese authorities have been preparing a trading link with the U.K. as part of a broader effort to increase access to the country’s financial system.
QIA has been negotiating the potential purchase of a minority stake in Lufax, an arm of China’s Ping An Insurance (Group) Co, for $500 million to $1 billion.
Warburg Pincus in September became the second-largest shareholder in Sichuan Jinxin Fertility Co, Other investors include Sequoia China and a unit of China Citic Bank Corp.