China Deal Monitor: Qiming leads $21m round in NEIWAI and more updates

Qiming Venture Partners has led a 150 million yuan ($21 million) Series C round funding in lingerie brand NEIWAI, per a firm filing. 

NEIWAI, founded by Xiulu Lu in 2012, started off as a lingerie retail brand before diversifying its product base to cover categories such as loungewear, sportswear, and other lifestyle goods.

The brand targets to have 80 stores by the end of this year. It is planning to open its first oversee flagship store in San Francisco. NEIWAI has partnered New York-based luxury lingerie store Journelle, in its first global collaboration.

CHINA DEAL MONITOR 

Among the largest deals in the table, Tianjin-based healthcare firm Fountain Medical has secured 438 million yuan ($62 million) in its Series D round led by Goldman Sachs and joined by Lilly Asia Ventures. And, Suzhou-based Kintor Pharmaceutical Limited received 319 million yuan ($45 million) in a new round led by Shanghai Free Trade Zone Fund.

Healthcare and related technologies continued to snag investments with Fountain Medical, Kintor Pharmaceutical Limited and Ankuo Medical raising fresh rounds. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Fountain MedicalTianjin62 millionDGoldman SachsLilly Asia VenturesHealth Tech
Kintor Pharmaceutical LimitedSuzhou45 million -Shanghai Free Trade Zone FundZhuhai Huajin Capital Co.,Ltd, CF Capital, Highlight CapitalHealth Tech
NEIWAIShanghai21 millionCQiming Venture Partners-Consumer & Brands
Ankuo Medical Shanghai15 millionA1Matrix Partners China, BioTrack CapitalCASH CapitalHealth Tech
SMARTBI TechnologyGuangzhou14 million BGaocheng CapitalAmbrum CapitalSoftware & Service
TripGuruHong Kong-Strategic InvestmentCatalyst VenturesE-Commerce & Internet Economy

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.