China Digest: COSCO Shipping fund backs Gunlei; BusinessBigData raises $18.8m

A sign COSCO is seen behind tree branches atop of the company's headquarters in Beijing November 8, 2013. REUTERS/Barry Huang

One-stop logistics major Gunlei has closed a $78-million investment from COSCO Shipping’s logistics fund while big data supplier BusinessBigData has raised a $18.8 million Series C round from Smallville Capital.

COSCO Shipping Fund puts $78 m in logistics platform Gunlei

COSCO Shipping Logistics Fund, set up by COSCO Shipping Holdings, has made a strategic financing of $78 million in Gunlei, a one-stop platform for purchasing cars, according to the China Money Network.

Beijing-based Gunlei provides services such as logistics and custom clearance for a smooth and real time support in procuring and selling cars.

Charles Hong Chen established Gunlei Corporation China as a new platform specializing parallel import cars. The firm has branches in both the East Coast and West Coast of the U.S. and is one of the largest trading and warehouse in the States.

The logistics investment fund is backed by the provincial government currently raising around RMB 6billion ($874.2 million) for investments in areas like cold chain logistics, logistics infrastructure, industrial parks and e-commerce.

BusinessBigData raises $18.8m Series C from Smallville Capital

BusinessBigData, a big data solutions provider for the financial service sector, has raised a $18.8 million Series C from Smallville Capital, an investment firm from China that focuses on future technology, new finance, e-commerce and internet marketing, the China Money Network reported.

BusinessBigData is backed by Xiamen Overseas Chinese Electronic Co Ltd which paid $1.8 billion yuan to acquire part of the firm together with its existing shareholder, CPTF Optronics Co Ltd.

The company has raised financing from other investors including $16 million Series B from Sinolink Securities Co Ltd, CDH Investments and an undisclosed investor in 2015.

It secured its Series A  from Shenzhen Fortune Venture Capital Co Ltd.

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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. 
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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.