China Deal Monitor: Qingteng closes $44m in Series B+ and more updates

Qingteng Cloud Security, a Beijing-based technology firm specialising in server security, has secured 300 million yuan ($44 million) in a Series B+ round of financing led by Greater Bay Area Homeland Investments Limited.

Following the transaction, Qingteng plans to leverage its capabilities in server security, cloud security and data security to help build a digitized Greater Bay Area, according to a company statement on Tuesday.

The Greater Bay Area, created in July 2017, is a Chinese government scheme seeking to connect 11 cities, such as Hong Kong, Macau, Shenzhen, Guangzhou, and Zhuhai, into an integrated economic and business hub.

Qingteng, founded in August 2014, serves companies and government departments in a wide range of fields including finance, telecom, real estate, energy, transportation and the internet. It currently has offices in Shenzhen, Shanghai, Guangzhou, and Wuhan.

Proceeds will be used to build a more comprehensive product matrix, increase investment in the technological R&D of server security, recruit talent, and expand business nationwide, according to the statement.

In February 2018, Qingteng raised 200 million yuan ($29 million) in a Series B round led by Sequoia Capital China, with participation from TMT-focused private equity fund China Broadband Capital (CBC), Redpoint China Ventures, the China-focused arm of Silicon Valley’s Redpoint Ventures, and Beijing-based angel fund ZhenFund.

The company also received 60 million yuan ($8.70 million) in a Series A round in 2015, after it raised 6.5 million yuan ($942,494) in an angel round in 2014.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out prominent venture capital transactions in the Greater China region from January 13-14, 2020. 

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Following vacancies can be applied for (only in Singapore).   

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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.