Shanghai-based smartphone maker Vargo has completed series A round of financing worth tens of millions RMB from an undisclosed Chinese property developer, says a company announcement. The start-up has also received undisclosed amount of angel investment from Sequoia Capital and Matrix Partners one year ago, says the statement. The company will unveil its flagship smartphone […]

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Hong Kong-based private real estate investment firm Gaw Capital Partners has sold Cupertino Gateway, a class A office building in Silicon Valley, to an undisclosed buyer for US$165 million. In an announcement, Gaw Capital says the exit sale generated more than 40% internal rate of return (IRR). Gaw Capital acquired Cupertino Gateway in September 2013 […]

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An entity under China Science & Merchants Investment Management Group (CSC) has raised a US$400 million fund to invest in start-ups on AngelList, an online platform connecting start-ups and angel investors. The fund is the largest vehicle dedicated to seed-stage start-ups ever, says a blog post on AngelList's website. The U.S. arm of CSC, CSC […]

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A unit of Legend Holdings has executed an agreement to sell around 5.3% of its shareholding in Hong Kong-listed car rental firm CAR Inc. to mobile app-based chauffeured car service start-up Ucar Technology Inc. In a securities filing, Ucar, which counts both CAR and Legend Holdings as significant shareholders, will purchase 125.4 million shares of […]

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Beijing-based social media advertising and marketing start up Weiboyi has completed RMB320 million (US$50 million) series C round of financing from CMC Capital Partners and Matrix Partners, according to Chinese media reports. The company says it will use the proceeds on expanding its social media marketing tools and video marketing networks. Founded in 2009, Weiboyi […]

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Beijing-based online education start up Vipkid has completed US$20 million series B round of financing led by Northern Light Venture Capital, according to a news article posted on its Weibo account. Existing investors Matrix Venture Partners, Innovation Works and Sequoia Capital also participated. Vipkid says it plans to use the proceeds on improving its teacher […]

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China puts brakes on rate of IPOs to shore up demand for shares

Latest sign of continued headwinds facing country’s slowing economy

China’s exports in RMB terms fell 1.1% year-on-year in September, above market consensus of a decline of 7.4%, and compares with a 6.1% drop in August. Imports remained weak and contracted 17.7% year-on-year in September, compared with a decline of 14.3% in August, reflecting soft domestic demand and commodity price declines. As a result, China's […]

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Weak trade data chime with economists’ bearish predictions, highlighting policymakers’ task

The first of an FT series looks at the ambition behind the Silk Route, Beijing’s signature foreign policy