China Deal Monitor: Everest backs Cipher Gene and more updates

Genetic data and analysis-focused biotech company Cipher Gene LLC has closed ‘millions of US dollars’ in a pre-B round of funding led by new investor CS Capital. 

The fresh round was joined by another new backer Shanghai Sova Investment and existing investor Everest Venture Capital. Everest together with Envision (Beijing) Investment and Jiangmen Ventures had invested 10 million yuan ($1.4 million) in Cipher in 2016. 

The proceeds will be allocated towards new product research, market expansion, business development and beefing up team, it said in a statement. 

Cipher delivers precision medical solutions mainly for children with genetic diseases. The company uses AI technologies to develop a genetic data interpretation platform to develop approachable therapies. It has forged partnerships with nearly 300 hospitals and clinics. 

Additionally, Cipher has also raised capital from state-owned Shenzhen Guozhong Venture Capital Management and King Capital in 2018. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 20, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Antengene Corporation Shaoxing97 millionCFidelity Managemetn & Research Company LLCGIC, GL Ventures, Qiming Venture Partners, Boyu CapitalHealthTech
Xpeng MotorsGuangzhou50 milionC+-Aspex, Coatue, Hillhouse Capital, Sequoia Capital ChinaAutonomous Driving
Xpect Vision TechnologyShenzhen21 millionB+Beijing Jianxing Medical Health InvestmentFujian Septwolves Group's investment armHealthTech
Dongguan Nabai Medical TechnologyDongguan14 millionStrategic InvestmentYF Capital-HealthTech
Crerax Science and TechnologyShanghai4 million-Longwater Investment-N/A
Cipher Gene Beijing* 1.4 millionPre-BCS CapitalShanghai Sova Investment, Everest Venture CapitalHealthTech

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example.

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.