China: IDG Capital leads $50m round in Chengjia; Shouqi booking app raises $88m

A hotel in Shanghai. Photo from Huazhu Hotels Group website.

Investors continue to be active in the rental services in China with tens of millions of US dollars in new funding rounds. IDG Capital and Huazhu Hotels Group invested in apartment rental startup Chengjia Apartment’s $50 million pre-series A round. Shouqi Limousine & Chauffeur, a subsidiary of state-owned automobile and transportation firm Shouqi Group, has also raised $88 million with company valuation of $750 million.

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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.