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Canada s Virogin raises $120m led by China Life; to use proceeds for Shanghai R&D centre
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China Digest: Ruiyun Cold Chain nets $15m; Redpoint, BAI back Galixir
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In this episode of China Money Podcast, listen to all the news headlines in the China venture investment and tech sector for the week ending May 7.
It’s been a long holiday week in China, but dozens of startups still managed to close deals to raise additional funding. We monitored 34 different startup, growth stage, and pre-IPO investment deals closing over the past 5 days totaling US$880 million across China. Investors such as GP Capital, Qiming Venture Partners, Panlin Capital, Champion Ascend, Forebright Capital, SoftBank Ventures Asia, DCP Capital, and Sequoia Capital China all made investments this week in a bunch of startups. This is the May 7, 2021 edition of the China Money Podcast where we update you on the news, data, and insights you need for making private equity and venture capital decisions in China.
Baidu-backed Xgimi Technology looks to raise $186m in STAR Market IPO
February 19, 2021
Chengdu Xgimi Technology Co., Ltd, a specialist in multi-functional smart projectors and laser TVs, has filed for an initial public offering (IPO) on the Nasdaq-style STAR Market of the Shanghai Stock Exchange (SSE).
Xgimi, which is backed by leading investors like search engine giant Baidu’s VC arm Baidu Ventures and MatrixPartners China, plans to raise as much as 1.2 billion yuan ($186 million). Xgimi is offering 12.50 million common shares at a price of 133.73 yuan ($20.64) apiece.
Hong Kong- and Shanghai-listed investment bank China International Capital Corporation (CICC) is the principal underwriter for the deal.