China Digest: GL Ventures leads $28m funding in DataCloak; EMQ nets $23m

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Chinese internet security startup DataCloak has raised $28 million in its Series B round of financing led by GL Ventures while open-source software developer EMQ has secured 150 million yuan ($23 million) funding co-led by GL Ventures and GGV Capital.

GL Ventures leads $28m funding in DataCloak

Asia-focused PE firm Hillhouse Capital’s venture unit GL Ventures has led the $28-million Series B round funding for Shenzhen-headquartered internet security startup DataCloak, the lead investor said in a WeChat post on Tuesday.

GSR Ventures and return backers MatrixPartners China and Jeneration Capital joined the round. Index Capital facilitated the transaction. 

MatrixPartners China, Jeneration Capital, Co-Stone Asset Management and Green Pine Capital Partners invested $13 million in DataCloak’s Series A round in January 2020. In 2018, Matrix led a $5-million pre-A round in DataCloak. 

The firm will use the proceeds for R&D programmes, talent recruitment, market expansion, product innovation and commercialisation. 

EMQ nets $23m in Series B

China’s open-source software developer EMQ has secured 150 million yuan ($23 million) in its Series B round of financing co-led by GL Ventures and GGV Capital, according to a company statement on December 31, 2020. 

Existing investors Vision Knight Capital and Oriental Fortune Capital joined the round. Vision Knight Capital had invested ‘millions of US dollars’ in the firm’s Series A+ round earlier in August 2020. 

EMQ’s early-stage backers include Chenhui Venture Partners, In Capital, Unity Ventures, among others. 

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.