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IDG Capital is co-leading a Series A funding round for Jiatui, a Shenzhen-based company that produces artificial intelligence-empowered products for corporate clients. The firm will use the proceeds from the latest funding round to focus on products, which help manage sales and facilitate business-to-business communication. Jiatui now has 20,000 clients and operations in more than 110 Chinese cities.
With 20 million users and over $20 billion in virtual currencies, Coinbase recently acquired crypto startups Earn.com, Cipher Browser and Paradex, and is now an undisputed leader in the global cryptocurrency industry. IDG Capital was an early investor in the San Francisco-based firm.
Circle has launched USD Coin, a new cryptocurrency designed to mitigate price volatility. Bitmain, China's biggest Bitcoin miner, co-invented the product with Circle and also recently led a $110 million investment in the Boston-based firm. IDG Capital joined the Bitmain-led investment and is an investor in both Bitmain and Circle.
IDG Capital and Hike Capital are co-leading a $15 million funding round in Huohua Siwei, an online platform designed to enhance the critical thinking capabilities of Chinese children, ages three-to ten. The Beijing-based training platform currently employs more 70 teaching and software design staff. Huohua Siwei will use the fund for R&D efforts, plus the construction of several educational centers.
Oil giant BP recently signed a Memorandum of Understanding with NIO Capital, the investment arm of NIO, a Shanghai-and San Jose-based electric vehicle manufacturer. Under the terms of the agreement, the two firms will jointly explore global business opportunities involving electric vehicles and batteries, new energy infrastructure and smart-car systems. IDG Capital recently joined NIO's Series B+ funding round.
Hong Kong-listed Tencent has signed a Memorandum of Understanding with the United Kingdom's Department of International Trade to cooperate on a wide range of digital, cultural and creative projects. Tencent's anime movie business, Penguin Pictures, will also collaborate with the British Broadcasting System (BBC), the national public service broadcaster, for joint production, commercial licensing and film distribution. IDG Capital was an early investor in Tencent.
Nasdaq-listed iQiyi, which signed up over 60 million streaming service subscribers, has formed a partnership with FilmNation Entertainment, a New York and Los Angeles-based film production and distribution firm. The agreement gives iQiyi, based in Beijing, exclusive access to FilmNation content for three years. iQiyi has also previously partnered with Fox, Disney, Sony, and Netflix. IDG Capital joined iQiyi's financing round in 2017.
Chinese venture capital firms inked 209 deals in April with a total value of $15.59 billion, and IDG Capital leader was among the lead investors with five deals valued at $119 million. Recent IDG Capital investments include Informatics, an AI-powered digital pathology company; Castbox, a San Francisco-based global podcast app; PatPat, a cross-border infant product e-tailer; Youxi, which owns and operates Chinese movie-themed hotels; and Easylinkin, which designs Low Powered Wide Area Network (LPWAN) products for wireless communication.
In a wide-ranging interview, Jim Breyer, an early investor in Facebook, discusses why he's now focused on artificial intelligence (AI) in both the U.S. and China. Since first joining forces with IDG Capital in 2005, Breyer, who manages Breyer Capital, and IDG Capital have jointly co-invested in more than 200 Chinese companies.
Ping An Good Doctor, China's leading online healthcare service platform, has raised $1.12 billion in an initial public offering on the Hong Kong Exchange. With 193 million users, the Shenzhen-based company provides medical consultations, health checkups and other healthcare products. IDG Capital joined Good Doctor's 2016 financing round.
Video gaming company Razer recently formed a partnership with Singaporean mobile network operator Singapore Telecommunications (SINGTEL) to begin deploying a digital payment system in Southeast Asia. IDG Capital was an early investor in Razer. The company went public in Hong Kong in 2017.
Cryptocurrency trading platform Coinbase will start offering block trading services on its crypto exchange platform. With a daily trading volume of $315 million, the Coinbase exhange, GDAX, is now the world's ninth largest crypto exchange. IDG Capital was an angel investor in Coinbase.
Half of China's 1.3 billion people resides in rural China and so-called "lower-tier" cities with populations of only several million and are unconnected to the Internet. Pinduoduo, a group-buying e-commerce platform, is now targeting this much neglected market. The platform currently has 156 million monthly active users. IDG Capital has joined Pinduoduo's Series B funding round.
Blockchain-based cryptocurrency fintech firm Circle recently introduced Zcash, an open-source cryptocurrency product to help users manage assets on its Circle Invest platform. IDG Capital led Circle's Series C and D funding rounds.
Infront, a Swiss sports media and entertainment firm, is making an investment in COPA90, a London-based digital football content company.The cash infusion will support COPA90's international expansion into Latin America and China and also improve its audience data analysis. China's Dalian Wanda Group acquired Infront in 2015. IDG Capital is also an investor.
NIO, based in Shanghai and San Jose, has begun delivering its new ES8 electric vehicle. During the 2018 Beijing Auto Show, the ES8, which offers advanced AI-empowered capabilities, attracted massive press attention. IDG Capital joined NIO's Series B+ funding round.