Sequoia, Warburg co-lead funding in Genki Forest and 13 more deal updates from Greater China

Soft drinks brand Genki Forest has secured an undisclosed strategic investment that brings its valuation to $6 billion, per a company statement on Friday. 

The new round was co-led by new investors Warburg Pincus and American-French PE firm L Catterton, as well as return backer Sequoia Capital China. 

Singapore’s state investment giant Temasek also invested in the latest round along with existing backers like Gaorong Capital and Longfor Capital. TMT-focused venture capital firm Gaorong Capital has made two investments in Genki in 2019 and 2020 respectively, the company said. 

With the fresh financing, Genki aims to focus on product innovation and overseas market expansion. 

Set up in 2017 in Beijing, Genki Forest has a sugar-free and low-calorie product line.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 08 – 09, 2021. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
CloudMinds Shanghai153 million-Shanghai Chengtou Group, Guosheng Group-Robotics & Drones
Suzhou Abogen BiosciencesSuzhou92 millionBPICC Capital, SDIC Venture Capital, YF Capital LYFE Capital, Highlight Capital Biotech
Changsha Intelligent Driving InstituteChangsha46 millionBXinding CapitalLegend Star, BV Ventures, Chuanghe Huimao Investment, Unifortune, Hunan Xing Xiang Investment Holding, WolongAutonomous Driving
SNEFEShanghai* 15 millionA-Crescent PointBeauty & Hygiene
MabgeekShanghai15 millionA+-Dynamic Capital, Zhangjiang Haoheng Investment,Tianhui Capital, Shifeng Xinhui Investment, Sensegain Asset Management N/A
wawaeg.comYichun15 millionAngel, Pre-A, APre-A: Unity Ventures; A: Panda CapitalAngel: Matrix Partners China, K2VC; Pre-A: Matrix Partners China, K2VC;E-commerce
RockingzooHangzhou* 10 millionA, A+A: Crystal Stream; A+: Sinovation VenturesA: Source Code Capital; A+: K2VC, Source Code Capital, Crystal Stream Beauty & Hygiene
Yunyou Freight Beijing* 10 millionBTencent, Eastern Bell CapitalBlueRun Ventures AI and Machine Learning
KikitradeHong Kong8 millionPre-ADragonfly Capital, Cherubic Ventures, Animoca BrandsEthereum Co-founder Joseph Lubin and his new fund in stealth, Vulpes, Super Chain Capital, Artesian, Head&Shoulders X, SNZFintech
NovamabShanghai* 1.5 millionA+Huatai Zijin Investment, Hongyun FundTao CapitalN/A
EvergrandYantai* 1.5 millionA-Plum VenturesInternet of Things
Genki Forest Beijing-Strategic InvestmentSequoia Capital China, L Catterton, Warburg PincusTemasek, Gaorong Capital, Longfor CapitalN/A
mlogcn.comWuhan-Equity InvestmentXiran Capital-AI and Machine Learning
Aqrose TechnologyBeijing-B+Vision Knight CapitalXiang He 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 “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.