China Literature — the Tencent e-publishing venture that went public with a US$1 billion IPO last November— announced that it would acquire Chinese digital production company New Classics Media for around RMB 15.5 billion (US$2.2-2.3 billion), according to a media report. WeChat owner Tencent paid existing backer Chinese VC Enlight Media US$524 million for a 27.64% stake in New Classics Media in March this year, valuing NCM at about US$1.9 billion then. For the latest deal, China Literature said it will pay RMB5.1 …

Tencent-backed China Literature Acquires Chinese Digital Producer New Classics Media for $2.2B appeared first on China Money Network.

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Matrix-backed Chinese graphic social media tool Meipian, recently announced the completion of its series B round worth billions of RMB. Matrix Partners continues to increase its investment while other investors in this round include Mango Cultural Creativity (Shanghai) Equity Investment Fund and Zhen Fund. The funds will be mainly used to further deepen the content reading community, optimize the accuracy of intelligent recommendation and mine more high-quality content; explore tools in the video field. With the completion of this round …

Chinese Image Editing Social Media Tool Meipian Raises Series B Round appeared first on China Money Network.

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After completing the docking with Alibaba’s Tmall store, Ali Health, RT-Mart, Freshhema and other commercial entities, Ele.me announced that it had completed the entrance docking with Hellobike. Ever since Alibaba bought Ele.me, it is trying to further integrate Ele.me’s services into Alibaba’s ecosystem and help advance Alibaba’s New Retail strategy. In June, Alibaba’s financial services unit Ant Financial invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, making it a unicorn company in China. This cooperation is not a only a …

Alibaba’s Food Delivery App Ele.me Establishes Cooperation With Hellobike appeared first on China Money Network.

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Beijing Bytedance Technology Co. has reportedly kicked off an equity-fundraising round that could value the owner of China’s most popular news-aggregation app at as much as US$75 billion. The company is aiming to raise around $3 billion, according to a media report. Although, that amount could change and there is no guarantee Bytedance will achieve its targeted valuation. Founded in 2012, Bytedance owns a series of content platforms including its flagship product Toutiao that provides users personalized content through machine …

Chinese News App’s Parent Bytedance Rumored To Raise $3 Billion appeared first on China Money Network.

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SoftBank Group Corp.’s Vision Fund plans to lead an investment of US$3 billion to US$5 billion in Alibaba’s food delivery giant Ele.me, according to a Bloomberg report. Masayoshi Son’s near-$100 billion is in discussions with potential investors including venture capital firms added the report. As part of the agreement, Alibaba intends to merge Ele.me with in-house arm Koubei, which focuses on connecting restaurants to the internet but negotiations are ongoing and the terms could still change, said the report. The SoftBank …

Softbank’s Vision Fund To Invest $3B In Alibaba’s Food Delivery App Ele.me appeared first on China Money Network.

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To tackle China’s structural shortage of quality healthcare services, technology and innovation can play an important role beside regulatory reform, Jiang Xiaodong, managing partner of Chinese venture firm Long Hill Capital, told China Money Network. A recent movie about the dare conditions faced by patients who are terminal ill in China and its viral spread all over social media reflects the pervasive anxiety across Chinese society. Based on a real-life story, the movie featured a Chinese vendor who smuggled cheap …

Long Hill Capital Sees Opportunities In China’s Underserved Healthcare Sector appeared first on China Money Network.

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Luxembourg-headquartered private equity fund CVC announced that its CVC Asia Fund IV has entered into binding agreements to invest HK$2 billion (US$255 million) of new capital for 25% in RKE International Holdings Limited, a toll road operator in China. RKE is a subsidiary of RKI, a Hong Kong listed property development and infrastructure conglomerate. RKE invests in, develops, manages, and operates expressways and toll roads. It has a portfolio of five expressways spanning 340 kilometer and strategically located in important …

Private Equity Firm CVC Invests $255M In Chinese Toll Road Operator RKE appeared first on China Money Network.

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Chinese medical solution provider Medlinker has raised a RMB1 billion (US$146.8 million) series D round led by China Capital Zhongcai Fund, an industrial fund management company jointly sponsored by China Investment Securities, Zhongcai Financial Holding Investment LTD and others. Other investors of this round include Sequoia Capital, China Health Industry Investment Fund and Huaxing Capital. Founded in 2014, Medlinker is specially designed for doctors who can share their expertise, experiences, and opinions with other elites in the industry through the …

Chinese Medical Solution Provider Medlinker Raises US$147M in Series D Round appeared first on China Money Network.

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Hong Kong-based real estate private equity firm Gaw Capital Partners has acquired a 50% stake in Spanish boutique hotel brand Hospes Hotel Group, of which its total asset is valued at €125 million, forming a joint venture with a Spanish investment company Omega Capital. Gaw Capital invested through its European Hospitality Fund I managed by GCP Hospitality. Hospes Hotel Group is a Spanish hotel operator with 10 properties in the luxury and heritage boutique hotel segment. Each hotel has been …

Gaw Capital Acquires 50% Of Spanish Boutique Hotel Group Hospes appeared first on China Money Network.

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Chinese B2C e-commerce group JD signed a cooperation agreement with Xi’an National Civil Aerospace Industrial Base to build JD Group’s largest comprehensive smart logistics…