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Venture capital market

Moore Threads is one of China’s top GPU designers. Photo: Handout
Semiconductors

China’s AI chip unicorn Moore Threads moves closer to possible IPO

The GPU and AI-accelerator start-up, founded by an Nvidia veteran, has become a joint-stock company after fresh investments.

Artificial intelligence

Chinese unicorn Zhipu AI raises US$210 million to invest in start-ups

Banking & finance

China’s economic stimulus is a boon for APAC private capital market: Preqin

Banking & finance

China Renaissance names missing founder’s wife to chair investment bank

Hui Yin-ching, also known as Xu Yanqing, was designated as the chairperson of the bank’s board and executive director effective October 9, Renaissance said.

China Renaissance’s founder Bao Fan and his wife Hui Yin-ching during the 2018 Breakthrough Prize at NASA Ames Research Center on December 3, 2017 in Mountain View, California. Photo: Getty Images.
Start-ups

Hong Kong’s MindWorks defies private capital slump with new start-up fund

MindWorks closed a US$220 million fund, with backing from sovereign wealth funds, a university endowment, and ‘new economy entrepreneurs’.

Artificial intelligence

Sam Altman could get 7% stake if OpenAI shifts to for-profit model

OpenAI is considering these changes against the backdrop of an exodus of senior managers, including Mira Murati.

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Banking & finance

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Li Yunze, director of the National Administration of Financial Regulation. Photo: Reuters
China technology

China eyes sci-tech venture capital to boost industrial upgrade, economic growth

Premier Li Qiang said on Wednesday the development of venture capital is critical to sci-tech innovation, industrial upgrading and the growth of the economy.

Start-ups

Start-up funding in China remains weak, but may see a recovery this year

Funding for start-ups in China remains at a low point, although the amount raised in the first half is already more than 50 per cent of 2023’s total, suggesting a potential recovery.

Artificial intelligence

AI pioneer Li Feifei raises US$230 million for new start-up

The new venture on 3D spaces counts venture firm Andreessen Horowitz, as well as actor Ashton Kutcher and Google’s Eric Schmidt as investors.

Li Feifei, a prominent AI pioneer, has launched a new start-up. Photo: Huxiu.sohu
Investing

Chinese firms in mobility, hardware are big draw for venture funds, report shows

125 Chinese firms with overseas operations received funding across 156 deals during the period between November 2023 and August this year.

The most popular venture-capital funding targets are Chinese companies involved in automobile and mobility, as well as intelligent hardware. Photo: Shutterstock
Millionaires and billionaires

12 Silicon Valley CEOs and investors backing Kamala Harris – unlike Elon Musk

Elon Musk may be vocal in his support for Donald Trump, but several prominent tech CEOs and VCs are signing on to support Kamala Harris for US president.

US-China tech war

US-sanctioned Chinese AI chip champion Biren plans IPO

The Shanghai-based unicorn, seen as a potential Nvidia competitor on the mainland, has begun its IPO tutoring process.

Artificial intelligence

OpenAI valuation to reach US$150 billion in latest fundraising round

The US start-up is also in talks to raise US$5 billion in debt from banks in the form of a revolving credit facility, a source says.

OpenAI is one of the world’s highest valued start-ups. Photo: Bloomberg
China technology

China’s technology sector relies heavily on capital from SOEs, government funds

Investment guru Fang Fenglei said the situation could lead to ‘a big problem’ in the industry because it goes against existing Chinese law.

Roughly 80 per cent of investments in the country’s tech sector last year came from funds backed by the government and state-owned enterprises, according to investment guru Fang Fenglei. Photo: Shutterstock
Mergers & Acquisitions

US private-equity firm invests in Chinese-owned personal care brand Stenders

Investment firm says now is a good time to lean into China’s consumer sector amid lower competition and valuations.

US-China tech war

China’s chip industry becomes key breeding ground for unicorns

As start-up funding dwindles, investments are concentrated in a few unicorns, such as those in the integrated circuit sector.

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Artificial intelligence

Chinese unicorn Zhipu AI raises new funding from state-backed investor

State-backed investment vehicle Zhongguancun Science City Innovation Development estimates Zhipu AI’s value at around US$2.8 billion.

A crowd gathers at Zhipu AI’s exhibition space during the World Artificial Intelligence Conference in Shanghai. Photo: Zhipu AI
Artificial intelligence

Nvidia, Apple in talks to join OpenAI’s new funding round

Nvidia has discussed investing about US$100 million, while Apple and Microsoft are also mulling participation, sources say.

Semiconductors

Enflame, China’s Tencent-backed Nvidia wannabe, flags IPO plan

The Shanghai-based unicorn has begun the so-called tutoring process, compulsory for IPO applicants in China.

Robotics

Former Huawei ‘Genius Youth’ recruit launches humanoid robots to rival Tesla’s

‘We’re now at the forefront of the industry,’ Agibot founder Peng Zhihui declared after launching his firm’s new-generation family of humanoid robots.

Artist’s impression of Agibot’s biped humanoid robots in action. Photo: Agibot
Mergers & Acquisitions

Regulatory, geopolitical uncertainties cloud M&A in China: Deloitte

Investors are not sure about the economy, confidence is not high and they want the Chinese government to take steps to drive growth, Deloitte’s Stanley Lah says.

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In the first half of 2024, M&A volumes in China declined by 19 per cent year on year. Photo: Shutterstock
Consumers

Exclusive | Qiandama’s investor sees proof of China’s resilience amid slump

GenBridge Capital founder Robert Chang says this trend presents ‘an unexpected opportunity’ for Chinese consumer brands.

Fintech

China hogs APAC fintech funds amid global decline, investor caution: KPMG

Fintech investment in China fell 17 per cent, in line with the global drop in the first half, as investors tread cautiously amid various uncertainties, according to KPMG report.

Artificial intelligence

Moonshot AI founder builds business in the mould of ByteDance, OpenAI

Big bets made by Alibaba, Tencent and other investors on Yang Zhilin’s leadership have boosted Moonshot AI’s valuation to US$3.3 billion.

Moonshot AI founder and chief executive Yang Zhilin. Photo: Weibo
Banking & finance

China’s private capital fundraising hits new low of US$3.4 billion: Preqin

The second quarter fundraising came in at US$3.4 billion, less than a tenth of the average US$45 billion raised each quarter between 2019 and 2021, according to data provider Preqin.

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China-focused funds are having a challenging time, according to financial data provider Preqin. Photo: Bloomberg
Banking & finance

China’s AI, EV and chip investments drive region’s venture capital deals: KPMG

A total of 2,155 venture-capital deals worth US$17.4 billion were finalised in the Asia-Pacific region in the year’s second quarter, according to a KPMG report.

Artificial intelligence

One of China’s ‘AI tigers’ raises another US$700 million from Big Tech

The Beijing-based company is now worth more than US$2.7 billion, behind only fellow ‘AI tiger’ Moonshot AI, as US capital remains sparse in the domestic industry.

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Venture capital market
The latest news, analysis and opinion on Venture capital market. In-depth analysis, industry insights and expert opinion.
last updated:
9 September, 2024
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