China Dealbook: Huizuche raises $30m Series B, CMC Group invests in VS Media

Chinese Yuan notes. Photo: Reuters

Private equity firm H&Q Asia Pacific becomes the biggest investor of start-up Huizuche with over $30 million fundraised in series B round while Chinese property developer Hengmao goes to extremes with an A$88,888,888 project buy in the name of good fortune.

H&Q Asia Pacific raises $30 million in Huizuche 

Huizuche, a car rental services startup which provides car rental services for outbound Chinese tourists, raised $30 million in a Series B round led by Asia-focused private equity firm H&Q Asia Pacific.

H&Q Asia Pacific which specialises in control investments and early stage venture capital investments, has managed 28 funds since 1985. Northern Light Venture Capital and VentureShares also participated in the round.

Set up in 2014 Huizuche provides airport pick-up and car rental services to Chinese outbound tourists in over 180 countries and 5,000 international cities. It also has partnerships with 320 car rental companies. Funds will be used to improve its services and mobile apps.

CMC Holdings makes Series B investment in VS Media

CMC Holdings, an investment platform affiliated with China Media Capital (CMC), has made an undisclosed series B round in VS Media, a multi-channel online video network focused on supporting online video content celebrities. 

“Video has become a mainstream entertainment for mass consumers and it is experiencing explosive growth in the mobile world,” says Li Ruigang, chairman of CMC Capital. With this investment, VS Media will explore cooperation with CMC’s numerous portfolio companies in the media and entertainment sectors.

Founded in 2013 in Hong Kong, VS Media says its business model is to find and help potential online video stars, or users who can generate large fan base, to grow and transition into professional video content producers and ultimately to create their own brand.

The company claims to have 500 online video content producers in Greater China, including 100 such partners in Mainland China. The combined subscribers to these content producers amount to 52 million, and these producers create 3,000 hours of online video content every month with views of over 30 million.

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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.

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.