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Hong Kong's AI drug discovery firm Insilico closes $60M Series D – TechCrunch

Insilico Medicine, a Hong Kong-based company that has been using artificial intelligence to discover new drugs since 2014, has completed a fresh round of funding. It’s a sign that certain investors are continuing to bet on emerging biotechnologies — which often take longer to prove profitability compared to other verticals — at a time venture […] ....

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ByteDance reorganizes strategic investment team, causes panic – TechCrunch

What a roller coaster day for China’s tech industry. TikTok’s parent company ByteDance has dissolved its strategic investment team, sending worrying messages to other internet giants that have expanded aggressively by investing in other companies. At the beginning of this year, ByteDance reviewed its “businesses’ needs” and decided to “reduce investments in areas that are […] ....

Tencent offloads stakes in allies as it continues investment spree – TechCrunch

Chinese internet titan Tencent is divesting its vast portfolio. On Tuesday, the company announced plans to offload more than $3 billion worth of shares in Sea, a Singaporean internet conglomerate, trimming its stake in Sea from 21.3% to 18.7% and bringing its voting rights under 10%. The move came less than a month after Tencent […] ....

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China's antitrust push forces digital reinvention

China's antitrust push forces digital reinvention
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Breakingviews - China's antitrust push forces digital reinvention

Breakingviews
3 Min Read
FILE PHOTO: Jack Ma, founder and executive chairman of China s Alibaba Group, speaks in front of a picture of SoftBank s human-like robot named pepper during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/File Photo
HONG KONG (Reuters Breakingviews) - What’s left for Chinese internet companies deprived of the ability to leverage user data, offer subsidies or abuse market dominance? Days after fining Alibaba a record $2.8 billion for anti-competitive behaviour, the antitrust watchdog has sent an ultimatum to dozens more, giving them a month to rectify behaviour and warning of severe consequences. Some companies can change easily. Others will have to find new revenue streams in a jiffy. ....

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