China Digest: Therypharm nets $37m; Tencent leads funding in Golden Education

Golden Education

Suzhou Therypharm Pharmaceutical Co., Ltd has raised 250 million yuan ($37 million) in a Series C round of financing co-led by SND Ventures Group and CEC Capital, while Golden Education has completed an undisclosed funding round led by Tencent Investment.

Therypharm nets $37m in a Series C round 

Chinese drug maker Suzhou Therypharm Pharmaceutical Co., Ltd has garnered 250 million yuan ($37 million) in a Series C round jointly led by state-backed SND Ventures Group and emerging economy-focused investment firm CEC Capital, CEC announced on Thursday.

A clutch of new investors — including GP Capital’s Su Shang Fund, Suzhou International Development Venture Capital Holding’s sub-fund, Taihoe Venture Capital, and Honest Capital — participated in the round, besides returning investor Legend Capital.

Legend Capital and Tenyall Investment had together invested in Therypharm’s Series B round in 2018. Therypharm will continue to consolidate its pipeline products and accelerate the R&D of drugs.

Located in East China’s Suzhou city, Therypharm has been active in the areas of new generation active pharmaceutical ingredients (API) and reagents since its inception in 2010. Its 14 API drugs and seven reagents cater to patients who suffer from cancer and cardiovascular diseases. 

“We will make efforts to support the innovations toward API,  reagent, and other unmet generic products,” said Hong Chu, founder, Therypharm, in the statement. 

Therypharm was also backed by Suzhou Weilan Investment Management and Suzhou Technology Venture Partners.

Tencent leads funding in Golden Education

Education platform Golden Education, which focuses on financial courses, said it has completed an undisclosed new funding round led by Tencent Investment with the participation of Loyal Valley Capital and Hundreds Capital. 

The fresh vehicle will be used to enhance its financial courses and training services, Golden Education posted on WeChat on Thursday.

Founded in 2016 in Shanghai, Golden Education offers finance-based vocational education and training services primarily to enterprises through online and offline networks. Besides, Golden is stepping up to develop its business-to-consumer (B2C) business. It has so far set up 120 schools across 65 cities in China, as well as branches in UK and Australia.

In 2018, Hillhouse Capital along with Morgan Stanley, Yonghua Capital, and Vision Knight Capital collectively infused 800 million yuan ($117 million) in a Series C round funding in Golden Education. Its early-stage investors include XDF.CN, 51job and S&G Investment. 

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.