China: CMC, HG Capital invest in Newrank; National SMEs Fund backs Tianyancha

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CMC Capital, and HG Capital participated in a $26 million investment round in social media content ranking platform Newrank, while China’s National SMEs Fund led an $18 million funding round in business data and investigation platform Tianyancha.

CMC, HG Capital join $26m round in Newrank

Newrank, a Shanghai-based social media content monitoring and ranking startup, raised up to $26 million (RMB180 million) in a Series B round led by CMC Capital, and HG Capital.

Fortune Capital also joined the round, the China Money Network reported. CMC is a Chinese investment firm focused on the media and culture sector, while HG is a Chinese private equity firm.

Founded in 2014, Newrank does ranking services for content published on Chinese media platforms, even covering consumption of content by users on WeChat official accounts and Weibo accounts.

Newrank plans to use the proceeds to improve its products and establish a new office in Shenzhen, the report added.

The startup, as of February 2017, monitors over 10 million WeChat official accounts, overseeing daily activities of over 350,000 high-quality accounts, covering 20 sectors and 30 cities.

Among its other partners are personalized news app Toutiao, video platform iQiyi.com and Youku Tudou and distribute its rankings and data.

Newrank in 2015 raised a $2 million series A round from SkyChee Ventures, and afterwards raised an undisclosed sum in the series A+ round from Zhen Fund, Banyan Capital and Weiying Capital.

Also Read: China’s CMC Capital Partners invests in Formula E

National SMEs Fund leads $18 series A in Tianyancha

Tianyancha, a Beijing-based business data and investigation platform, raised $18 million in a series A round led by China’s National Small and Medium-size Enterprises Development Fund, a direct investment vehicle of the National SMEs Development Fund.

The deal served as the fund’s first investment, CMN noted. It is the second direct investment vehicle launched in December 2016 by the National SMEs Development Fund, and managed by Tsinghua Holdings’ THG Ventures.

Tianyancha was launched in March 2016 by its startup developer Beijing Jindi Technology Co Ltd, which was established in 2014. The company plans to use the latest proceeds to expand its business and cooperation with other partners.

Tianyancha is designed to enable users to search for a company’s details and board members relationship, including company background, company development, operating risks, and intellectual property.

Also Read: China’s search engine Sogou eyes $5b US IPO to chase rival Baidu

The platform now has over 120 million companies on its list.

Beijing Jindi Technology previously raised $3 million angel round from Chinese venture firm Tengye Ventures in 2015.

National SMEs Development Fund is a $9.4 billion fund launched in 2015 focused on innovative, early stage technology companies.

A Shenzhen-based vehicle served as its first direct investment fund last January, and secured $870 million in total capital commitments, of which it secured $220 million each from the central government, and the Shenzhen municipal government.

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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.