IPOs
Qiming Ventures-backed biotech company Zai Lab hauled in $761 million in a secondary listing on the main board of the HKEX.
Chinese education service provider Logicreation eyes $152 million IPO in ChiNext.
DEALS
Chinese electric car startup WM Motor pulls in $1.47 billion financing. Chinese EV startups NIO, XPeng Inc, Li Auto and WM Motor have raised more than $8 billion between them this year, electrified by Tesla's challenge. State-run investment in WM is leading up to an IPO.
Google, Tencent and Sequoia pour $15 million into US-China biotech startup XTalPi.
Hillhouse affiliate GL Ventures leads $147 million, Series D financing of clinical stage biotech InventisBio.
Weee!, a fast-growing Asian e-grocer in North America, closed Series C financing led by DST Global, bringing total capital raised since launch to over $100 million.
Covid 19 has been a boost for its online ordering and deliveries in the SF Bay Area. Weee! turned profitable and grew 600% year over year. iFlyVC was the sole investor in a round in late 2018.
FUNDS
GGV Capital is looking to raise $2 billion for its US and China tech investments, exceeding its last fund of $1.88 billion.
Shanghai-based venture firm Panlin Group has raised $148 million for a China VC fund.
COMMENTARY
"Trump’s approach to TikTok and WeChat, like much of his foreign policy, is a gesture of defeatism camouflaged as strength."
"For the next 10 years, it's about who has the better technology. Soon, geopolitical conflicts won't be about physical armies alone."
CIO Economic Times
