China’s dating site Baihe partners JD Capital to invest in wedding spaces

Photo: Baihe.com

China’s leading online dating platform, Baihe.com and JD Capital, a Beijing based private equity firm, are planning to set up an investment firm to invest in wedding related spaces, the China Money Network reported.

They are looking at investing in companies providing dating and wedding related services, and to create industry leaders through mergers and acquisitions.

Baihe.com merged with Jiayuan.com, in May 2016, a Chinese dating site with over 135 million members. Following the merger, Jiayuan became a subsidiary of Baihe capturing nearly 50 percent of China’s online dating market. The partnership with JD Capital is expected to be a right match to create industry leaders in this space through M&A.

Recently, Baihe partnered with Turing Robot, a Chinese artificial intelligence company, to develop a relationship prediction robot to help singles develop and maintain a relationship.

The Chinese New Third Board listed company clocked annual revenue of RMB185 million in 2015, down 37.96 percent.

JD Capital, also known as Kunwu Jiuding Capital Holdings Ltd, currently has a $4.37 billion under management working across multiple RMB and U.S. dollar-denominated vehicles. It has an investment portfolio of nearly 300 companies across over 20 industries. About 97 companies are listed in China with branch offices in 60 domestic regions. The rest of their branches are in Europe and North America.

The company disclosed that its annualized rate of return was around 29 percent as of June 30, 2016, according to its disclosure filings.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • 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.