China Deal Monitor: DCM, Matrix and Huagai invest $21m in Tcpjw and more updates

Nanjing-based e-invoicing supply chain platform Tcpjw.com has raised 150 million yuan ($21 million) as part of its Series B, B+ rounds from MatrixPartners China, DCM and top asset management firm Huagai Capital, according to a company statement on Tuesday. 

The current round comes after Tcpjw secured ‘tens of millions of dollars’ in its Series A round from Bamb Capital and HK-listed home furnishings & building materials group China Lesso Group Holdings Limited in August 2018. 

Tcpjw, founded in 2012 and managed by Jiangsu Yincheng Network Technology, is one of the largest e-invoicing supply chain platforms in China. Using big data, cloud and fintech innovation, Tcpjw creates a transparent online trading platform for enterprises to manage efficiency. 

Besides, Tcpjw also cooperates with banks and third-party payment platforms to secure transactions. 

As of 2019, the company generated about 2 trillion e-invoicing tickets while it claims to have helped reduce costs by 1.4 billion yuan ($200 million) for China’s small to medium-sized enterprises.

Founding proceeds will be used to upgrade its online platform and to expand its market.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 17, 2020. 

Topping the list are two deals from the healthcare industry. Yantai-based biopharmaceutical firm RemeGen has completed raising over $100 million in a new funding round jointly led by China-based biomedical venture capital firm Lilly Asia Ventures, and Hong Kong’s healthcare investment fund Lake Bleu Capita.

And, Meizhong Jiahe Hospital Management Group, the China-focused healthcare services platform of New York-listed Concord Medical, has raised about 700 million yuan ($100 million) from CITIC Industrial Investment.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
RemeGenYantai100 million-Lilly Asia Ventures, Lake Bleu CapitalVivo Capital, Janchor Partners, Hudson Bay Capital, OrbiMedHealth Tech
Meizhong Jiahe Hospital ManagementBeijing100 million-CITIC Industrial Investment-Health Tech
Tcpjw.comNanjing21 millionB, B+MatrixPartners ChinaDCM, Huagai CapitalE-Commerce & Internet Economy
MatridxHangzhou14 millionPre-A-Proxima Ventures, Puhua CapitalHealth Tech
EoitekShanghai10 millionB+GGV Capital-AI/Robotics
Singular MedicalSuzhou1.4 millionAQiming Venture Partners -Health Tech
StarseeNanjing1.4 millionPre-A+-GSR Ventures, JC CapitalAI/Robotics
CellnuoNanjing-Pre-ABGI CO-WINDynamic CapitalHealth Tech
Lypersics SemiconductorYizheng-Angel-Cowin Capital, Leimerious CapitalHardware
InspurBeijing-Pre-IPO--Cloud

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.