In January 2024, China saw the announcement of 251 venture capital (VC) funding deals, with a disclosed funding value of $2.6 billion, marking a decline of 8.4% in deal volume and 31.4% in funding value compared to the same period last year, according to GlobalData, a prominent data and analytics company. The trend continued into […]

Daniel Zhang, the former CEO of Alibaba Group, has taken on a new role as managing partner at China-based venture capital firm Firstred Capital. The announcement comes six months after Zhang’s departure from Alibaba. In his new position, Zhang will focus on exploring opportunities in merger and acquisition funds, as announced by Firstred Capital on […]

Moonshot AI, a Chinese AI startup, has clinched a staggering sum of over $1 billion in its Series B funding round for the development of large language models (LLMs). The financial injection, led by e-commerce titan Alibaba and venture capital HongShan, drives Moonshot AI’s valuation to an impressive $2.5 billion.  HongShan, the Chinese counterpart of […]

Netherlands-based investment firm Orient Growth Ventures has successfully closed its second fund, Orient Growth Fund II, amassing $90 million in commitments. This fund is a major increase from its inaugural $25-million fund raised in 2020. The firm has shown an escalating focus on backing early-stage venture capital managers across Southeast Asia and India. With Orient […]

InnoVen Capital, the venture debt provider backed by Temasek’s Seviora and UOB, has announced the launch of its second China fund, InnoVen China Fund II, with an initial close of approximately US$130 million.  This USD-RMB dual-currency fund aims for a total size of US$250 million. The fund has already secured about half of its target, […]

Silicon Valley venture firm GGV Capital has decided to split into two separate entities, one focused on Asia and the other on the United States. This decision follows a trend set by rival firm Sequoia Capital a few months ago, as American tech investors face increasing pressure to disengage from their Chinese investments due to […]

The U.S. plans to enact a prohibition on private-equity and venture-capital investments in specific Chinese technology firms as part of an executive order set to be unveiled by the Biden administration. It intensifies Washington’s endeavors to impede Beijing’s advancement in technology tailored for military applications. Sources suggest that the prospective U.S. restrictions on investment within […]

China has announced the extension of favorable taxation policies for venture capital firms and individual angel investors investing in tech startups. Initially introduced in 2018, the policies have now been extended until the end of 2027, as stated in a joint announcement by the Ministry of Finance and State Taxation Administration. The primary objective of […]

The global healthcare venture platform VentureBlick has secured US$2.6 million in funding for its first two startups. The venture’s goal is to validate, support, and invest in early-stage healthcare startups. VentureBlick, led by CEO Hee-yeol Lee, is a specialized healthcare platform company that recently concluded its startup support program. The program assisted two startups, which […]

Zhang Yiming, the co-founder of ByteDance, the parent company of the popular social media platform TikTok, has established a new private investment fund in Hong Kong. The fund, known as Cool River Venture, will primarily focus on investing in technology-related industries. This move comes as Zhang has maintained a low profile since stepping down from […]