2017-投资界电子周刊No0566-英文版_10页_335kb

PEdaily E-Magazine Issue No.566 Summary

Core Content

The PEdaily E-Magazine Issue No.566, published on January 18, 2013, is a weekly publication tailored for professionals in the private equity (PE) and venture capital (VC) sectors in China. It provides timely, accurate, and in-depth market reports, covering investment and financing news, industry insights, data observations, and profiles of key players in the sector. The magazine is backed by Zero2IPO Group, a well-established research institution in the Greater China region, and aims to build a professional platform with extensive data and analysis.

Main Views and Key Information

1. Growth in LPs in China's VC/PE Market

• The number of limited partners (LPs) in China's VC/PE market grew to 7,511 in 2012, continuing low-speed growth due to the weak economic environment.
• Foreign LPs still dominated the investment capital in the Chinese mainland.
• Domestic institutional LPs, such as insurance companies and securities firms, began entering the market due to relaxed market access policies for RMB LPs.
• The structure of RMB LPs is expected to be further optimized in the future.

2. Investment News

- PinYou (Pinyin) Completes $20M Round B Financing

• PinYou, a leading DSP server company in China, completed Round B financing on January 15, 2013.
• The investment was led by CBC, Vangoo Investment Partners, and Fude Capital, with CBC also participating in Round A.
• PinYou was founded in 2008 and received angel investments in March 2010 from German and U.S. experts.
• It completed Round A financing in May 2011.

- Dolphin Browser Secures $10M Round B Investment

• Dolphin Browser, launched in Wuhan in early 2010, received a strategic investment of about $10M from a consortium led by Qualcomm Ventures.
• The exact investment amount was not disclosed by the company.
• Yang Yongzhi, the founder, was previously a senior staff member at Microsoft Research China.
• The company previously secured $10M Round A investment in July 2011 from Sequoia Capital and Matrix Partners.

- Huatai Securities' Direct Investment Fund Completes Fundraising

• Huatai Securities announced that its direct investment fund, Hutai Zijin (Jiangsu) Equity Investment Fund, successfully closed fundraising with a total amount of RMB 2B.
• The fund is managed by Huatai Ruitong Investment Management Co., Ltd., with a registered capital of RMB 50M.
• It is the third broker direct investment fund approved in China, following Industrial Securities, Changjiang Securities, and Shenyin Wanguo Securities.

- Chinahr.com to Be Sold by Monster for RMB 55M

• Chinahr.com, a recruitment platform, is set to be sold by Monster at a low price of RMB 55M.
• Monster had previously invested $50M in 2005, $19.9M in 2006, and $174M in 2008, acquiring 40%, 5%, and 55% of shares respectively.
• By 2008, Chinahr.com was valued at $316M, but Monster's total investment was only $243M.

- Silver Lake Partners and Other PEs to Participate in Dell's Privatization

• Dell's privatization is entering the final negotiation stage, with Silver Lake Partners, Texas Pacific Group, and other PE institutions involved.
• At least four major investment banks are preparing to provide funding for the transaction.
• The price range for privatization is between $13.5 and $14 per share, with debt potentially reaching $15B.
• The transaction is likely to be concluded within two weeks.

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Conclusion

This issue highlights trends in the Chinese VC/PE market, including increased participation by domestic institutional investors, significant investment rounds for tech startups like PinYou and Dolphin Browser, and major transactions such as the privatization of Dell and the sale of Chinahr.com. It also emphasizes the professional and data-driven approach of PEdaily.cn, offering insights for investors, entrepreneurs, analysts, and lawyers.