China Digest: Matrix Partners invests in xyb2b; Hillhouse Capital backs Elpiscience

Passengers ride on a ferry as it travels past the Oriental Pearl Tower the Pudong Lujiazui Financial District in Shanghai, China, on Tuesday, Nov. 13. 2018. Photographer: Qilai Shen/Bloomberg

Matrix Partners China has invested in the Series B round of Chinese e-commerce platform xyb2b.com while Elpiscience Biopharmaceuticals has secured funding from Hillhouse Capital.

Matrix Partners China invests in xyb2b.com

Matrix Partners China has completed a Series B investment in Shenzhen-based e-commerce platform, xyb2b.com, according to an announcement.

New investors joining the funding round include Hongtai Capital Holdings and GX Capital while its existing investors Eastern Bell Venture Capital, GSR United Capital and Dongzhao Shanghai Group also participated in the round.

Established in 2015, xyb2b.com provides one-stop supply chain services for cross-border purchases.

The platform raised $47 million in a Series A round led by GSR Ventures and Eastern Bell Venture earlier this year.

According to Crunchbase, other backers of xyb2b.com include Hongtai Capital, Matrix Partners China, GSR United Capital, GX Capital and Dongzhao Shanghai Group.

Elpiscience raises $35m led by Hillhouse Capital

Elpiscience Biopharmaceuticals Company, a developer of immunotherapies to fight cancer, has raised a $35-million Series A+ round of financing led by Beijing-based investment firm Hillhouse Capital, according to the China Money Network.

Others participating in the round include Hong Kong-based CDH Investments and its existing investor Lilly Asia Ventures from China which led a $20-million Series A in Elpiscience last year.

Focused on Asia, Hillhouse, an early backer of well-known firms like Tencent, Baidu, JD.com, Uber and Airbnb, has recently announced the close of Hillhouse Fund IV at an aggregate commitment of $10.6 billion.

Also Read:

Matrix Partners China leads $22m Series A in text analysis startup Elens

Hillhouse Capital leads $230m Series B in US-based Gossamer Bio

China’s top hotpot chain Haidilao attracts Hillhouse Capital to $963m IPO

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.