China Digest: Baidu leads Rimag’s $64m Series B; Vertex Asia Fund backs MashaMa

REUTERS/Kim Kyung-Hoon

Chinese venture capital and private equity firms continue to invest in China’s startups. China Money Network reports about the Series B fundraising of Rimag and Vertex Asia.

Baidu Venture leads $64m Series B in Rimag

Baidu Venture Capital, the early-stage investment unit of Baidu Inc, has led a group of investors in raising $64 million for the Series B funding round of Rimag, a Shenzhen-based medical imaging service provider.

Rimag’s latest fundraising round was also participated by Neovision Capital, Goldman Sachs China, Huayu Rongchuang, Beijing Huaxin Century Investment Group Co, and Zeyue Capital.

Headquartered in Shenzhen, Rimag specializes in medical imaging center operation, relevant cloud technology development, and talent training.

Vertex Asia Fund backs MashaMa’s $40m fundraising

MashaMa, the eponymous fashion brand by Chinese clothing designer Masha Ma, raised $40 million in Series B round, backed by Vertex Asia Fund and Su and Partners.

Vertex Asia Fund, founded in 2011, is a Singapore-based family of funds investing in early state companies around the world.

MashaMa is owned by Chinese fashion designer Masha Ma, whose collections have been featured in leading publications abroad, including Vogue, Elle,, Harper’s Bazaar, Pop, French Playboy, Cosmopolitan, and L’Officiel.

Her designs are known for their futuristic, feminine characteristics, minimalism, use of color while, and industrial and nature influences, among others.

DEALSTREETASIA will update these developments as soon as Baidu Venture Capital, Rimag, and Vertex Asia issue official statements about the latest funding rounds.

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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.