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.

Also Read:

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Fosun Pharma to buy French drug distributor Tridem for $73m

China Fosun to buy 74% stake in Gland Pharma for $1.1b in revised deal

 

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.