peHUB First Read

To start your week, First Read reveals private equity’s own form of tax inversion, a startup is developing a tech-enabled, friendlier way to collect debt and an earthquake rocked Napa Valley this weekend.

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PE Firm Boyu Capital Planning $1.5B Fund Focused on China

(Reuters) – Private equity firm Boyu Capital, whose partners include former TPG executive Mary Ma and the grandson of former China president Jiang Zemin, is planning to raise its second fund and is seeking $1.5 billion, according to people familiar with the matter. Boyu will launch the fund in the second half of the year, continuing its focus on investing into Chinese companies, the sources say.

Yodo1 Dials Up $5M to Target China’s Smartphone Game Market

Chinese smartphone game publisher Yodo1 reported Wednesday that it has raised $5 million in a Series A round led by SingTel Innov8, a wholly-owned subsidiary of Singapore-based SingTel Group. Additional funding came from existing investor Chang You Fund. Beijing-based Yodo1 raised $2 million in seed funding last June from Chang You Fund and an undisclosed amount from RTM Asia in February 2012.

WestSummit Backs Mobile Tech Company Union Optech in China

Beijing-based WestSummit Capital announced that it has backed Chinese optical lens provider Union Optech, which develops lenses and sensors used in security cameras, smartphones, and other mobile devices. Terms of the funding were not disclosed. Beijing-based WestSummit also invests in U.S. companies from its location in Palo Alto, Calif. PRESS RELEASE WestSummit Capital Expands Mobile Ecosystem Portfolio […]

China’s B5M Raises $7.1M From Oak, Glosis

B5M said it raised $7.1 million in Series A investment led by Oak Investment Partners and Giosis Holdings. The Chinese social shopping search engine will use the money to develop its website and for marketing. Allan Kwan and Youngbae Ku will join the board. PRESS RELEASE CHINESE SOCIAL SHOPPING SEARCH ENGINE B5M SECURES $7.1 MILLION […]

Tracy Lefteroff’s Cautious Outlook For Venture Investing And Fundraising

It is hard not to be gloomy with the broad challenges facing investing and venture investing in particular. The European sovereign debt crisis is like a flu that won’t go away. Domestic economic growth may be picking up, but it remains uninspiring, especially with another European recession on the horizon. Finally, unemployment is intractably high, […]

Sequoia, ZhenFund Form $30M Chinese Seed Fund

Sequoia Capital‘s China team and Chinese angel fund Zhenfund have joined forces to start a new $30 million seed fund, according to TechNode news site in China. The fund has a 50/50 split in dollars and the Renmindi to enable it to invest in Chinese registered and variable interest entity companies. Sequoia did not issue […]

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