China Digest: Starquest, Yao Capital back SuperMonkey; YunQuNa raises Series B2 from Coatue

Photo by Geert Pieters on Unsplash

China’s Starquest Capital and Yao Capital have co-lead a $53.5-million investment round into SuperMonkey while YunQuNa logistics company has raised a Series B2 round from hedge fund Coatue Management.

China’a Starquest Capital, Yao Capital co-lead $53.5m investment in SuperMonkey

Chinese private equity firm Starquest Capital and Yao Capital have co-led a $53.5-million Series D round into gym operator SuperMonkey, according to a report by China Money Network.

Chinese private equity firm Orient Hontai Capital also participated in this round. The country’s financial services company Index Capital served as the exclusive financial adviser of the deal.

Founded in June 2014, SuperMonkey serves as a 24-hour self-service fitness brand to provide customers with indoor and outdoor containers.

In 2017, the five-year-old gym operator raised an undisclosed sum in a Series C round led by Jian Sheng Sports Fund to expand its operations nationwide.

It had earlier secured RMB50 million ($7.6 million) in a Series B round from Ventech China, Fosun RZ Capital and Arena Capital.

Founded in 2017, Starquest Capital is a newly established investment firm sponsored by China National Venture Capital Fund and Sequoia Capital, focusing on private equity and fund of funds opportunities with an initial AUM of nearly 30 billion yuan. Meanwhile, Yao Capital is a RMB2 billion ($297 million) investment firm backed by former NBA superstar Yao Ming.

YunQuNa raises Series B2 from hedge fund Coatue Management

Chinese international logistics platform YunQuNa has raised tens of millions U.S. dollar in a Series B2 financing round led by New York-based hedge fund Coatue Management, according to China Money Network.

DCM Ventures, Source Code Capital and China Merchants Innovation Investment, an investment unit of China Merchants Bank, also participated in this round.

This deal follow a Series B1 round raised by the company from Sumitomo Corporation Equity Asia Limited.

YunQuNa offers logistics price inquiry, cargo space booking, customs clearance, logistics tracking, cargo handling and insurance.

Coatue Management is a privately owned hedge fund sponsor. The firm invests in the public equity markets globally focusing on investments in technology, media and telecommunications in addition to other sectors.

Also Read:

China: SenseTime backs WeRide; Starquest leads funding for Miaoshou Doctor

China Digest: Yao Capital puts $29.2m in Moviebook; UK’s Zencargo raises $4m

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.