China Deal Monitor: Cash Capital injects $42m in Wanlihong and more

Beijing Wanlihong Technology Co.Ltd has garnered as much as 300 million yuan ($42 million) in a new funding round led by state-backed investment manager Cash Capital, according to a company statement on Thursday.

The move comes about seven months after it had secured 850 million yuan ($120 million) from electric appliances giant Gree, and Jingque Capital in September 2019.

Founded in 2001, Wanlihong offers more than 120 proprietary products covering cybersecurity, e-governance, iris recognition, telecommunication, AI, among others.

With about 1,000 professionals, the Beijing-based Wanlihong has also set up two subsidiaries in Tianjin and Zhuhai. 

Wanlihong will allocate the proceeds to upgrade its R&D capacity, accelerate business development, and expand its presence in the iris recognition market.

Back in 2012, Wanli Jincheng Investment had infused an undisclosed equity investment in Wanlihong. Currently, Wanli Jincheng is the largest shareholder with a 29.40 per cent stake. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 16, 2020. 

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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.