Sequoia Capital China backs SSENSE and 30 more deal updates

Sequoia Capital China has partnered with a global fund to make an undisclosed investment in Montreal-based luxury fashion platform SSENSE, per a company statement on June 9. 

Following the deal, Sequoia Capital China has become a minority shareholder in SSENSE. Sequoia Capital China’s venture partner Angelica Cheung, a former editor at Vogue China editor, will join SSENSE’s board. 

SSENSE, which is valued at over $4.1 billion, will use the proceeds to speed up global expansion. 

SSENSE, which counts Sequoia Capital China as its first external investor, was co-founded by CEO Rami Atallah and his brothers Firas Atallah and Bassel Atallah in 2003.

“The partnership represents another solid step in our efforts in supporting the fashion industry’s digitalisation, backing visionary founders to transform and elevate the global fashion e-commerce experience to a new level,” said Sequoia Capital China founder and managing director Neil Shen in the statement. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on June 7-10, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals        
Chubby BearShanghai400 millionCC: CMC Capital; C+: SoftBank Vision Fund 2C: Matrix Partners China, Genesis Capital, Tencent Investment, Yunqi Investment, Immensus Capital, Gan Jiawei (Individual Investo); C+: Matrix Partners China, CMC Capital, Genesis Capital, Yunqi Capital, Hundreds Capital, Ab Initio Capital, Gan Jiawei (Individual Investor)E-commerce
Chehaoduo Beijing300 million-H CapitalSequoia Capital China, IDG CapitalE-commerce
Hesai TechnologyShanghai300 millionDGL Ventures, Xiaomi, Meituan, CPEHuatai, Lightspeed China Partners, Lightspeed Venture Partners, Qiming Venture CapitalAI and Machine Learning
Dingdang HealthcareBeijing220 million-TPG Capital Asia, Orbid, Redview CapitalValliance, Travis Global, Summer Capital, Yingke PEHealthTech
EcoFlowShenzhen100 millionBGL Ventures-CleanTech
Qingteng Cloud Security Beijing94 millionCGGV CapitalGreater Bay Area Homeland Investments Limited, Sequoia Capital China, Redpoint Ventures, CBC Capital, ZhenFund Cloud Computing
Baoyun GroupTianjin94 millionACountry Garden Venture CapitalMatrix Partners China, Being Capital, Dayone Capital N/A
Oriental SpaceYantai63 millionAngelMatrix Partners China, Sequoia Capital China Legend Star, ZhenFund, SEE Fund, Sanyi Heavy Industry, Turing Ventures, Chengdu Sanjing Asset Management, Zhongwei Huitong Tiandi Network, Z&H Investment, Xuezheng Wang, Guobin Wang, Jin YangInfrastructure
QitanTechChengdu63 millionBGL Ventures, CDH Venture and Growth Capital (VGC)BioTrack Capital, Huagai Capital, Riverhead Capital, BV Ventures, Alwin Capital, ZGC Co-Innovation Fund, Yinxinggu Capital, Gaorong CapitaBiotech
Zenshine PharmaNanjing31 millionA+-Matrix Partners ChinaN/A
Genhouse PharmaceuticalSuzhou31 millionA-Viva Biotech, IN Capital, Legend Star, Sharewin CapitalN/A
MotovisShanghai23 millionBBoxin CapitalRongxi Investment, J-Bang Capital, Chifortune Venture Capital, Step Fund, Hua Yu Jin Kong CapitalAutonomous Driving
Gene PointShanghai19 millionCNorthern Light Venture Capital, New Hope GroupLegend Star, DYEE CapitalBiotech
qianlima.comBeijing* 16 million--Gaocheng CapitalSaas
WitinmemBeijing16 millionA3Flyfot Ventures1More, Keysida, Renxin Capital, Kexun Ventures, China Fortune-Tech Capital, Puhua Capital, China Merchants VentureAI and Machine Learning
AcctrueBeijing16 millionC-Cowin CapitalSaas
RabbitpreShenzhen16 millionC1, C2-China Merchants Capital, kemet, China Merchants Venture, Toposcend Capital, 4Paradigm, Big Data
PicocomHangzhou16 millionPre-B--AI and Machine Learning
MorewisXiamen16 millionB+-Hua CapitalSaas
VocustShanghai16 millionA--AI and Machine Learning
Shanghai Feiwei Information Technology Shanghai16 millionBRedpoint China Ventures, GP CapitalXiaomi LangchengBig Data
Exegenesis BioHangzhou* 10 millionB++GL VenturesLake Bleu Capital, Temasek, CPE, LYFE Capital, Biotrack CapitalBiotech
Zeesan Biotech Xiamen10 million--Sinovation VenturesHealthTech
Small Design Hangzhou5 millionAngelVision Plus Capital, Welight Capital-AI and Machine Learning
Morion NanotechDongguan* 1.6 million--Country Garden Venture CapitalN/A
COOOOKHangzhou* 1.6 millionA-Yueheng CapitalN/A
MegaviewBeijing* 1 millionAngel-GGV CapitalSaas
Hope WaterShanghai-ABA CapitalBuer Capital, China Growth Capital, DatcentN/A
SpeedafShenzhen-A+Trustbridge CapitalNorthern Light Venture Capital, Vision Plus CapitalRidesharing /Transport
EurekaSystemsShanghai-Debut RoundSBCVC-Big Data

∗ 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 “6 million yuan ($1 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.