Baidu Inc.'s investment department has been lagging behind the market and missed big opportunities due to a lack of coherent strategy and a rigid corporate culture. The failure of Baidu's investment unit to capture future leaders in emerging industries has widened the gap between Baidu and its two peers, Alibaba Group Holding Ltd. and Tencent […]
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Chinese genome sequencing firm BGI, previously know as the Beijing Genomics Institute, has led a RMB200 million (US$30 million) series A funding round in Beijing Gene+ Technology, a gene testing and precision medicine start-up, according to Chinese media reports. Shenzhen-based Green Pine Capital Partners and Shanghai Huoshanshi Capital, a venture firm founded by ex-IDG Capital […]
Source Code Capital has joined a RMB150 million (US$22.5 million) series C round of financing in automobile after-sales O2O (online-to-offline) service provider, eBaoyang, Chinese media reported. The round is led by Yihao Capital, an entity that currently lacks any available identifiable public information. Founded in 2014, eBaoyang completed a US$20 million series B financing led […]
I-Bridge Capital, a healthcare-focused venture capital firm and incubator founded by an ex-partner of Kleiner Perkins Caufield & Byers (KPCB), has established a joint venture with Israeli drug company BioLineRx Ltd. to incubate innovative healthcare start-ups. The joint venture, named iPharma, will seek to develop innovative clinical and pre-clinical therapeutic projects originating primarily in Israel […]
A management buyout proposal to take NASDAQ-listed Chinese online game developer KongZhong Corporation, backed by IDG-Accel China Growth Fund, has lowered its proposed price as expectations fell for the kind of valuations companies can get in a potential re-lising back in China. An investor consortium including Wang Leilei, chairman and chief executive officer of the […]
CDH Investments has reached a final closing for its fourth RMB mezzanine fund with RMB3.5 billion (US$525 million) in total capital commitments, according to Chinese media reports. The mezzanine fund, with an original fundraising target of URMB2 billion, secured commitments from 17 Chinese domestic institutional investors, including China Life Insurance, a unit of the Industrial […]
Ant Financial Services Group is known as China's biggest and most valuable financial technology company, but the man who's in charge of the Alibaba Group's financial affiliate remains a deeply mysterious non-public figure. Eric Jing, 44, a veteran Alibaba executive and head of Alibaba's Alipay unit since 2009, rarely talks to the media or speaks […]
Bank of China Hong Kong and Hang Seng Bank have both issued warnings in recent days about Web-based attacks targeted …