Asia Digest: China’s LendChain secures fresh funds; S Korea’s SFC backs Aivita

Blockchain/Bitcon. Photo: Bloomberg

By Mars W. Mosqueda Jr.

June 12, 2018

Global blockchain firms have invested tens of millions of RMB into Chinese distributed digital assets platform LendChain while South Korean investor SFC poured $15 million into biotech startup Aivita Biomedical.

China’s LendChain secures fresh funds from blockchain firms

LendChain, a distributed cryptocurrency financial services platform, has reportedly raised fresh investments from Chinese blockchain company GX Chain, Sydney-based blockchain firm Bitpei, Beijing-based investment fund PreAngle, Fission Capital, and others.

Financial details of the funding round were not disclosed but on its official WeChat account, GX Chain said it was in tens of millions of RMB and that LendChain intends to use the proceeds for product development and marketing.

Launched only last month, LendChain claims it has already attracted hundreds of customers and has facilitated loans worth about $234,000 in this month alone. The company provides financing, investment, insurance and other financial services for holders of cryptocurrency.

Kosdaq-listed SFC backs $15m series B in biotech startup Aivita

SFC Co Ltd, a Kosdaq-listed South Korean company, has invested $15 million in the private Series B financing round of Aivita Biomedical, a US-based biotech startup founded by pioneers in the stem cell industry.

In a statement, Irvine, California-based Aivita Biomedical said, it focuses on the advancement of commercial and clinical-stage programs, utilizing curative and regenerative medicines.

The financing will support Aivita’s commercial and clinical-stage programs, the company said. SFC, established in 1991, is a solar backsheet manufacturer that has made a number of investments in various industries recently. Last November, it acquired South Korea’s P2P lending service startup Villy for W11 billion ($9.8 million).

Also Read:

Crypto exchange Binance plans $1b fund for blockchain projects

Singapore: Blockchain games startup EON Foundation raises $5m in seed round

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.
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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.
APPLY NOW