Hex Trust snags $6m and 16 more deal updates from Greater China

Hong Kong-based digital asset custody service provider Hex Trust has completed its Series A round raising $6 million led by fintech-focused QBN Capital. 

A slew of investors including Cell Rising, Radiant Tech Ventures, Kenetic Capital, HashKey, MD Labs, Fenbushi Capital, Borderless Capital, Genesis Block Ventures and Henri Arslanian joined the round, per a statement on March 30. 

The funding follows the company’s launch of a secure way of storing non-fungible tokens earlier this month.

Proceeds from the latest round will be deployed to advance its Hex Safe offering whilst establishing its compliance section. Hex Trust will also invest part of the funding to recruit talent based in Hong Kong and Singapore. 

Set up in 2018, Hex Trust helps maximise digital asset management for banks, financial institutions, and corporates. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 30 – 31, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Nice TuanBeijing750 million-DST Global, Alibabathe D.E. Shaw group, Dragoneer, Anatole Investment ManagementE-commerce
FlashEx Beijing125 millionD2-Shunwei Capital, SIG China, N5 Capital, Tiantu Capital, Oceanpine Capital, Alpha Square Group, Axiom Asia Private Capital, Qianshan Capital, CF CapitalRidesharing /Transport
KaadasShenzhen100 millionBOrchid AsiaCowin Capital, Qianhai Huxing InvestmentAI and Machine Learning
Xie Zhu TechnologySuzhou46 millionBAddor CapitalOcean Tiancheng Fund, SR CapitalInternet of Things
TasogaredeHangzhou46 millionBQiming Venture Partners, Yijing CapitalBuer Capital, Hyperspace CapitalN/A
Artivila TherapeuticsBeijing23 millionPre-AHightlight CapitalYijing Capital, Med-Fine CapitalN/A
GreatarBeijing* 15 millionAChina Fortune-Tech CapitalFG Venture, THG VenturesAI and Machine Learning
RoboCTHangzhou* 15 millionA-BlueRun VenturesRobotics & Drones
ZansiShanghai* 15 millionB-5Y Capital, IDG CapitalN/A
Weiyun AIChangzhou15 million---HealthTech
HiNa BATTERYBeijing15 millionA-Phoenix Tree Capital PartnersElectric/Hybrid Vechicles
BravoKidsBeijing11 millionA-MatrixPartners China, Challenjers Capital, Yong Xu (Individual Investor) N/A
Hex TrustHong Kong6 millionA-QBN CapitalFintech
Biren Technology Shanghai-B Ping An, New World Group, Country Garden Venture CapitalSource Code Capital, China Merchants Capital, Bertelsmann Asia Investments (BAI), CITIC Securities Investment, Greater Area Homeland Investment, Shanghai Shanghai Strategy Fund, MSA Capital, China Growth Capital, IDG Capital, V Fund, Zhuhai Da Heng Qin GroupAI and Machine Learning
EncooShanghai-B+-Flaming CaptialRobotics & Drones
xxdun.comBeijing-CCMC Capital Partners, IDG Capital, Loyal Valley CapitalAmbrum CapitalN/A
HrmicroChuzhou-A-Addor CapitalAI and Machine Learning

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “100 million yuan ($15 million)” in the given example. 

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.