By Denise Wee
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.
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.
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.
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 funds have been accelerating their Asia investments.
An IPO of Wanda’s sports assets would include Infront Sports & Media AG and World Triathlon Corp.
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.
Chinese social platform YeeCall has participated in the $4-million investment round of BitRock, the fintech platform it incubated.
Shanghai-based private equity firm Principle Capital has appointed Raymond Lau as a vice president of the firm.
K2VC has declared that it will cease all collaborations with Next Capital and will withdraw its status as LP on grounds of IP theft.