China: Alibaba Group puts $140m in cloud service firm; Akeso raises $45m

Later stage investments in Chinese innovative companies continue.  Alibaba and Yunfeng Capital have jointly invested $140 million in cloud service provider Qiniuyun while Shenzhen GTJA Investment has led a $45-million funding in Akeso Biopharma, a Guangdong-based antibody product manufacturer.

Alibaba, Yunfeng Capital invest $140M in cloud services firm Qiniuyun

Jack Ma’s Alibaba Group and Yunfeng Capital have injected a RMB1 billion ($140 million) strategic investment in Chinese cloud services firm Qiniuyun, China Money Network reported citing a company announcement.

Qiniuyun reportedly said it will remain independent post the investment, and use the proceeds to perfect its cloud storage, big data and artificial intelligence technologies.

Founded in 2011, the Shanghai-based company claimed it had bagged a series D funding from Harvest Capital Management and F&G Venture last year. Prior to that, it had raised money from CBC Capital, Qiming Venture Partners and Matrix Partners in previous rounds.

The latest investment was said to make Qiniuyun a catalyst to Alibaba’s cloud computing business to take on international rivals.

“We believe the core competition of the future is data. I hope we can build a big data-powered technology structure that offers true value, compared with other companies which merely sell infrastructure resources,” China Money Network cited Xu Shiwei, founder of Qiniuyun, from the announcement.

The Chinese cloud computing industry is projected to reach RMB75 billion ($11 billion) in 2017 and jump to about $20 billion by 2020.

Also read:

Alibaba, SoftBank team up for cloud computing service in Japan

Akeso Biopharma raises $45M from Shenzhen GTJA Investment, existing shareholders

Shenzhen-headquartered GTJA Investment Group, a RMB20 billion asset manager that focuses on the healthcare sector, has led a RMB300 million ($45 million) series B round in Akeso Biopharma.

Existing investors Shenzhen Capital, Qianhai Parent Fund and Qianhai TRI Wise Capital also participated in the round, according to media reports.

The company’s series A round was completed in 2015 with participation from Shenzhen Capital, Zhongshan Pheaton Capital Management, Shanghai CCB Capital Co Ltd, and Shenzhen Qianhai Xinnuo Capital Co Ltd, Akeso Biopharma said on its website.

Later in the year, it sealed an agreement with NYSE-listed Merck & Co. Inc to develop and commercialise its immune checkpoint blocking antibody AK-107 for an undisclosed upfront payment and up to $200 million in milestone payments.

Founded in 2012 and based in Guangdong province, the company recognized itself as one of the leading innovative drug developers in China, having been carrying 25 research projects involving drugs related to oncology, inflammation, autoimmune and cardiovascular diseases.

Akeso reportedly said it will use the latest investment to set up a manufacturing plant in China as well as facilitate clinical research of antibody products.

Also read:

China: OrbiMed leads $30m Series C in biopharma firm Zai Lab

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.