GGV Capital’s latest capital raise comes amid an uptick in inflows to VCs as investors look to profit from China’s tech growth.
Funding
VC Roundup: Chinese tech firms are betting on chips
Chinese tech giants typically focus on the consumer market. But their appetite for early stage investments in semiconductors is growing.
Autonomous car startup Uisee raises $150 million from state-backed fund
Uisee is benefiting from investor interest in Chinese AV startups as the Covid-19 pandemic pushes unmanned transport applications.
Shares of Evergrande EV unit surge 50% after raising $3.4 billion
China Evergrande New Energy Vehicle Group closed the sale of 952 million shares to six investors for a total of $3.35 billion)
Edtech firm Huohua Siwei valued at $1.5 billion
K-12 online math and science education platform Huohua Siwei received $150 million in a third batch of its Series E, which totals $400 million.
Mining rigmaker MicroBT is planning a US IPO: report
MicroBT, one of China’s top cryptocurrency mining equipment manufacturers, plans another round of fundraising prior to the IPO.
Ele.me faces backlash, Luckin coup: Retailheads
Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.
NYSE changes course again, to delist three Chinese telcos
The NYSE said Wednesday it will stick to its original plans to delist three Chinese telecom companies after an earlier reversal of the decision.
VC Roundup: A look at the Shenzhen VC world
Shenzhen is famous for entrepreneurship, but its VC scene doesn’t match its importance as a tech hub. Maybe there’s something to learn from it.