Baoli Fund backs Wanhua Hexiang and 19 more deal updates from Greater China

Wanhua Hexiang Banye, a manufacturer of formaldehyde-free materials, has raised ‘tens of millions of US dollars’ in strategic investment, per a company statement on Tuesday. 

The investment was led by Poly Capital and Country Garden Venture Capital’s joint fund, which translates as Baoli Fund. The 5 billion yuan ($700 million) real estate fund was co-launched by real estate developers – Poly Developments and Country Garden last year. 

Located in East China’s Shandong province, Hexiang Banye is engaged in the business of green wood-based panels. The company has eight manufacturing facilities with a capacity of 2.30 million cubic meters.  

Over the next five years, Hexiang is targeting to increase manufacturing capacity to 5 million cubic meters to provide 100,000 pre-fabricated formaldehyde-free boards to households. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from November 15 – 17, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
Hesai TechnologyShanghai370 million D-Xiaomi Corporation, GL Ventures, Meituan, CPE, Xiaomi Industry Investment N/A
CycloneShanghai150 millionCCMC Capital Partners, Goldman SachsLavender Hill Capital Partners(LHCP), Zhongwei Capital, V Fund, DCM, Matrix Partners China, Source Code Capital Saas
Thinking DataShanghai59 millionCSequoia Capital China Linear Capital, Blue Lake Caiptal, GSR VenturesBig Data
cyberpeace.cnNanjing30 millionCAddor Capital, Nanjing GaokeDynamic CapitalInfrastructure
Novlead BiotechNanjing19 millionBLilly Asia Ventures 3E BioVentures, Northern Light Venture Capital HealthTech
Beijing Trunk Technology (Trunk.Tech) Beijing* 15 million-Zhongwei Capital, Bohai Capital, Yuexiu Industrial Fund -Autonomous Driving
Wanhua Jingzhou* 15 millionStrategyPoly-Country Garden Capital -N/A
Yinghe Information Shenzhen15 million A+ CE Innovation Capital Koala Fund, Shunwei Capital Fintech
WhaleHouseShenzhen* 10 millionB-XVC, Yunfeng Capital, Megvii, Baidu Ventures, GSR United Capital E-commerce
ACXELFoshan* 10 millionPre-AGL Ventures, Wisdom Capital Cowin Capital Biotech
LuoyinShenzhen10 millionPre-ABAI CapitalXVC, Tiantu Capital N/A
Breath Medical Hefei * 1.5 million B-Huaying Capital, Chuanggu Capital, Baidu VenturesN/A
Foshan Taoying New Material Foshan* 1.5 million Angel -Plum VenturesN/A
GS BiotechHangzhou* 1.5 million Angel Matrix Partners China -Biotech
7x Networks Shanghai* 1.5 million A+Envision Capital Ivy Capital, Jucheng Capital Infrastructure
YueLiu Shanghai* 1.5 million A2Yilian Kaitai Capital China Eastern Bell Capital Cloud Computing
Rock AIBeijing* 1.5 million Pre-AShunwei Capital ZGC Group, Delta Capital Autonomous Driving
Huiyi(Tianjin) Healthcare Technology Tianjin-Pre-A-Matrix Partners China HealthTech
JAKAShanghai-C+--Robotics & Drones
JS InnoPharmShanghai-BTigermed, Baidu VenturesShenzhen Qianhai Beizeng Asset Management, Jiuyou Capital, Juming Ventures, Efund Capital N/A

∗ 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 “10 million yuan ($1.5 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.