Shunwei Capital’s sub-fund Shenzhen Shunying Private Equity Investment is raising 1 billion yuan ($154 million) for a new fund. In a separate development, Yeasen Biotechnology (Shanghai) has landed 300 million yuan ($46 million) in a Series B+ round.
Shunwei’s sub-fund to raise $154m
Shenzhen Shunying Private Equity Investment, a sub-fund of electronics giant Xiaomi’s Shunwei Capital, is raising 1 billion yuan ($154 million) for a new fund.
In a company filing with the Stock Exchange of Shanghai on Wednesday, software provider Kingsoft Office said it has agreed to pour 500 million yuan ($77 million) in the new fund. Meanwhile, Jiaxing Shunchuang Investment plans to inject 490 million yuan ($76 million), while Shunwei’s affiliate Tianjin Shuncheng Investment Management will inject the remaining capital.
Kingsoft Office will hold a 50% stake in the fund and serve as a limited partner (LP), while Shunchuang Investment, another LP, will own 49.9% equity interest. Tianjin Shuncheng Investment Management will act as a general partner (GP).
The fund will invest in high-tech startups and internet companies.
Shunying Investment specialises in technology and internet investments. The investor alongside Shunwei’s two other sub-funds — Guangzhou Chufeng Investment and Tianjin Haike Shunke Investment — has also launched a separate fund with a target to secure 3 billion yuan ($463 million) in a bid to support early- and growth-stage industry players.
Yeasen nets $46m in Series B+ round
Alternative asset manager CITIC Private Equity Funds Management (CPE) has led a 300 million yuan ($46 million) Series B+ round funding in biotech firm Yeasen Biotechnology (Shanghai) Co.
Other investors who participated in the round were HM Capital, Haiwang Capital, Huasai Fund, and Hongkou Kangrui Investment, the investee announced on Thursday. Yeasen plans to leverage the proceeds for the R&D of enzyme products and the construction of a facility base.
Set up in 2014, Yeasen develops enzymes and antibodies. As of now, it has rolled out more than 3,000 products such as enzymes, reagents, magnetic beads, and kits.
In June this year, Yeasen secured 250 million yuan ($39 million) in a Series B round funding led by Legend Capital and joined by investors such as Xinsheng Pharmaceutical and Hetai Ventures.