Kollective, Turn Capital buy SoundOn and 12 more deal updates from Greater China

Singapore-headquartered investment firm Kollective Ventures (KV) and Turn Capital, the family office of Joseph Phua, have jointly agreed to acquire Taiwan’s leading podcast platform SoundOn, Inc, per an announcement.

The deal size could not be ascertained.

Launched by Likai Gu in 2019, SoundOn has an interactive platform for podcasters that generates original content shows. The platform claims to be the largest podcast major in Taiwan and claims to have witnessed over 35 million podcast downloads each month last year, which is expected to surpass 500 million by the end of 2021.

“This acquisition allows us to further invest and develop the podcast ecosystem,” said Phua.

SoundOn will continue to operate under its current brand and its services remain unaffected, it said.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on January 26-27, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
KlookHong Kong200 millionEAspex Management Sequoia Capiptal China, SoftBank's Vision Fund 1, MatrixPartners China, Boyu CapitalE-commerce
MEMSIC SemiconductorTianjin154 millionAFortuna CapitalYF Capital, Asia Environmental Partners (AEP), Yangtze River Delta Collaborative Advantage Industry FundN/A
Agile RobotsBeijing/Munich130 million--Sequoia Capital China, GL Ventures, Linear Capital, C Ventures, TinaviRobotics & Drones
YunxuetangBeijing/Suzhou100 millionE1-TencentEdTech
Adicon Holdings Hangzhou88 million-Khazanah Nasional Berhad Lake Bleu Capital, Cenova Capital, OrbiMed, Mirae AssetHealthTech
Whales English Elite EducationBeijing34 millionB+XDF.CNSino-Ocean CapitalEdTech
Boan BiotechYantai30 million--CCB International, Starr CompaniesN/A
GenfleetShanghai* 15 millionB+Northern Light Venture CapitalHM Capital, Linden Asset Group, Shanjin Capital, CDH Investments, Panlin CapitalN/A
Shenzhen Iorange AutomationShenzhen15 millionB+V Fund-N/A
Shanghai Zhuizhi TechnologyShanghai8 millionALenovo CapitalGGV Capital, MatrixPartners ChinaSaas
Beijing Yuanshan IntelligenceBeijing8 millionA+Oriental Fortune CapitalLiumai Capital, Zhongshan Hongye CapitalAI and Machine Learning
LinKMOREHangzhou* 1.5 millionPre-AAlchemy CapitalHangzhou Fuzhuo InvestmentSaas
 XTransfer Shanghai-C2Lavender Hill Capital Partners (LHCP)-Fintech

indicates that the company did not provide the specific size of the deal but only a range. So, we adopted 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.