Chinese angel, VC funds team up to kick start big data, AI accelerator


An alliance of Chinese angel and venture capital firms which includes ZhenFund, Innovation Angel Funds and CAS Star, are partnering to launch an accelerator concentrating on artificial intelligence and Big Data.

Shenzen Topband leads $16m series B in China smart home solutions firm Orvibo

Chinese smart home solutions provider Orvibo has bagged $16 million (RMB110 million) in a series B funding round led by Shenzhen-listed Shenzhen Topband Co Ltd along with other investors.

China’s Zhongji Investment Holdings buys UK’s Jagex Games Studio for $240m

Zhongji Investment Holdings will acquire UK based Jagex Games Studio, creator of RunScape for $240m.

TPG said to exit race for $2b McDonald’s China rights

TPG Capital’s exit leaves only players in the race – Bain Capital, that has with Chinese hotelier GreenTree Hospitality, and Carlyle Group, which has teamed with Beijing-based conglomerate Citic Group Corp.

China’s 51 Credit bags $84m series C+ round to build fintech investment fund

The staggering fundraising will help the company expand by establishing its own investment fund targeting fintech companies in the upper and lower links of the financial chain.

Australia’s Rinehart, Shanghai CRED raise bid for Kidman cattle empire

The fate of S. Kidman & Co, which runs cattle and pastoral activities on tracts of land the size of South Korea, has been a lightning rod for concerns about the sale of Australian agriculture and other key assets to foreign investors.

Taiwan: Microsoft launches IoT innovation centre in Taipei

Microsoft has launched its first Asian IoT centre in Taipei, leveraging off the technical talent of Taiwan.

Chinese courier company ZTO delivers year’s biggest US IPO raises $1.4b

ZTO’s U.S. listing is a head start over rivals in the world’s largest express delivery market because it gives the company faster access to cash to expand. The company wants to use $720m of its IPO proceeds to buy more trucks, land, facilities and equipment.

China:Drone maker Simtoo, robot startup Rokid raise funding

Portable drone maker Simtoo fundraises $11 million in series B funding and robotic start-up Rokid raises a $65 million Series B.

China’s HNA Group takes a breather after $34b global acquisition spree

HNA and its listed arms have announced at least $34.1 billion of acquisitions in the past year, averaging more than two purchases a month, compared with $12.7 billion during the prior 12-month period.