CBD Capital, GLP make $45m strategic investment in data firm G7

China Development Bank’s private equity (PE) arm, China Development Bank Capital Corporation Ltd. (CDB Capital), and Singapore-based Global Logistic Properties Ltd. (GLP) have completed a US$45 million strategic investment in Beijing-based logistics big data company G7.

Incepted in 2010, G7 operates similarly to global peers such as Navman wireless, Mix, Omnitracs, Telogis and Fleetmatics. It provides real time tracking, analysis and management of trucking fleets. Its product, the G7 Smart Box, can provide logistics companies real-time data on their truck fleets.

This information includes location, speed, route, stopping time, oil consumption, drivers’ behavior and engine temperature. According to G7, it currently oversees up to 300,000 trucks for 30,000 logistics companies.

Previous funding includes an undisclosed series A and series B round form Eastern Bell Venture Capital, a $30 million round led by Tencent in 2015, and an additional $45 million series C+ round involving Tencent Holdings Ltd., Temasek Holdings and Eastern Bell Venture Capital in 2016.

In parallel to this strategic investment, G7 has formed strategic partnerships with Indiana-based diesel and natural gas engines company Cummins Inc. and Brussels-based commercial vehicles safety technology company Wabco. This will see these firms collaborate on engine data and truck data information sharing.

Other deals in this space have seen G7’s international peer, Dublin-based Fleetmatics, acquired by Verizon Communications Inc. in August 2016 for $2.4 billion. ‎California-based Telogis was also acquired by telecoms firm Verizon for an undisclosed amount in 2016.

Established in 2009, CDB Capital has registered capital of RMB59 billion ($8.57 billion), and currently has RMB150 billion ($21 billion) of assets under management.

Singapore-listed GLP is a logistics warehouse developer in China, Japan, Brazil and the United States with a $39 billion property portfolio comprising 562 million square feet of logistics real estate. It provided RMB100 million ($15 million) in financial credit to Chinese truck logistics start-up Fuyoukache in November 2016, and has launched two China-focused logistics infrastructure funds so far.

GLP, whose majority shareholder is Singapore’s sovereign wealth fund GIC, is currently at the centre of a bidding war, with Warburg Pincus reportedly forming a consortium to acquire GLP.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.