China: Shankai Sports gets $45m from Yao Capital; Shanghai Fosun backs LinkedCare

Photographer: Nelson Ching/Bloomberg

The latest in the deals space in Chine has seen Sports management firm Shankai Sports receive a $45 million Series B financing from Yao Capital, while LinkedCare, a dental medical information management firm, has raised a $15 million Series B from Shanghai Fosun, the China Money Network reported.

Shankai Sports gets $45m Series B from Yao Capital

Beijing-based sports marketing company Shankai Sports has received a $45 million Series B from private equity firm Yao Capital, founded by NBA star Yao Ming and investor David Han, former managing director of The Carlyle Group.

Shankai Sports provides sports sponsorships, event management and authorization services and has partners like IOC, FIFA, UEFA and just recently, signed an agreement to manage the operations of PGA Tour China.

Shankai Sports will handle the PGA Tour China’s new series for a 20-year period starting from 2018.

Yao Capital is a private equity investment firm forced on sports-themed opportunities both in China and globally.

Portfolio companies of Yao Capital include Iovate from Canada, that bridges a gap between fitness and sport supplement brands, and Beijing-based Wesai, that connects the sports industry and customers in fields like marketing and ticketing.

LinkedCare raises $15m from Shanghai Fosun

Shanghai-based dental medical information management application LinkedCare has raised a $15 million Series B from a leading pharma company, Shanghai Fosun Pharmaceutical (Group) Co Ltd.

LinkedCare’s offers dental SaaS solutions to doctors and patients. The LinkedCare app connects hospitals, clinics, patients, third-party services and insurance payments with dental doctors.

Prior to the latest investment, LinkedCare has raised $10 million Series A and A+ from Fosun Group, a Chinese conglomerate and healthcare community portal, DXY.

Established in 2015, LinkedCare’s angel investment came from Matrix Partners China, a venture capital firm whose investments are made starting from seed-stage to late-stage investments.

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