China Digest: Alibaba-backed Baozun buys Singapore’s Full Jet; Monad raises $30m

Chinese e-commerce service platform Baozun has acquired Singapore’s luxury brand management company Full Jet Limited. In a separate development, Monad has raised 200 million yuan ($30 million) in a Series A round of financing jointly led by Lucion and ABclonal.

Alibaba-backed Baozun buys Singapore’s Full Jet

Alibaba-backed Chinese e-commerce service platform Baozun Inc., has picked up all shares in the Singapore-based luxury brand management company Full Jet Limited, according to a company statement. The deal size was undisclosed.

Baozun and Full Jet will support global brands across Singapore, London, Tokyo, and Korea to better enter and understand China’s prosperous e-commerce business.

Baozun, which was listed in Nasdaq in 2015 and Hong Kong in 2020, provides integrated e-commerce solutions for brands. Its offerings cover IT solutions, online store operations, digital marketing, and warehousing. 

Chinese e-commerce major Alibaba is a major shareholder in Baozun holding 14% equity interest. Alibaba had exclusively pumped ‘millions of US dollars’ in Baozun’s Series A round in 2010. Subsequently, in 2011, Alibaba invested in its Series B round.

In January 2021, Baozun had picked up a roughly 4% stake in Nasdaq-listed Chinese independent online marketing solutions provider iClick Interactive Asia Group by pouring a total of $50 million.

According to a 2020 report by Bain & Co., China’s personal luxury market grew more than 45% in 2020 and the appetite of Chinese consumers for luxury products will also continue to grow, taking 46% of the global market by 2025.

Medical equipment provider Monad bags $30m Series A

Life sciences-focused medical equipment and services provider Monad said on Wednesday that it has pocketed 200 million yuan ($30 million) in a Series A round jointly led by state-owned investment firm Lucion and biotech company ABclonal.

The Series A round was joined by state-backed venture capital arm Wuxi Capital, per a company statement. 

Monad plans to use the proceeds to develop medical equipment, spruce up its manufacturing and sales teams, as well as advance R&D and operational capacities. 

Incorporated in 2017, Monad is a joint venture co-launched by Zhuhai Nanshan Investment. A gamut of products and solutions cover biological instruments, reagents, in-vitro diagnosis solutions, and antibody research. 

With its registered headquarters in East China’s Suzhou, Monad has also set up an operation centre in Shanghai and a factory in Central China’s Wuhan. Meanwhile, the company is poised to build an overseas R&D centre in the coming two years.

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.