Tiansheng Pharma

May 22, 2017

Subscribe to our newsletter Nguyen Thi Bich Ngoc May 22, 2017: &nbsp Chinese companies are still actively raising fund through both specialised investment firms and the capital market. Boray Data, a Big Data company, has completed a Series B round worth tens of millions of dollars from CASH Capital and other investors. Meanwhile, Tiansheng Pharmaceutical, a private equity-backed company, listed its shares on the Shenzhen Stock Exchange on May 19 and is valued at about $986 million. Boray Data raises 8-digit Series B investment led by CASH Capital Boray Data, a Beijing-based big data firm, has raised tens of millions of US dollars in its Series B fundraising round, led by local venture capital fund CASH Capital Investment Management , according to Chinese media. CASH Capital states on its website that it typically makes investments between RMB10-50 million. Established in 2011, CASH Capital is the VC arm of the Chinese Academy of Science Holdings. The investment unit manages and operates total assets worth over RMB360 billion, including VC and buyout portfolio, according to a statement on its website. The fund manager has also invested as the LP in more than 20 venture capital and private equity funds, including IDG Capital, Legend Capital, Hony Capital, CDH Investments, Sequoia Capital, and CBC Capital. This investment by CASH Capital adds to the recent funding spree in the Chinese Big Data sector that saw major corporates and local funds, such as Tencent Holdings, Baidu, Lenovo, Shenzhen Capital, Shunwei Capital and DCM Ventures, set up large vehicles or investments in the industry. Boray was founded by ex-Sun Microsystems and Asiainfo veterans in 2014, and focuses on real-time stream analysis of big data. The company has research bases in Beijing, Silicon Valley, Los Angles, Australia and India. Its featured product, Rapids Data Platform, provides services for a number of industries including finance, smart grid, infrastructure and utilities, and telecom. Boray had earlier snapped up a Series A round worth tens of millions of Chinese yuans from private equity firm China Equity Group in August 2016, as per a report by China Money Network. Also read: DCM Ventures leads $11m Series B in Beijing’s big data firm Tiansheng Pharmaceutical valued at $986m at IPO Tiansheng Pharmaceutical, a portfolio of Chinese private equity firms DT Capital Partners and Leading Capital, hit a valuation of RMB6.8 billion ($986 million) based on its highest trading price of RMB32.21 on its May 19 debut on the Shenzhen Stock Exchange. The company publicly offered 53 million IPO shares at RMB22.37 per share, with a target to raise nearly RMB1.2 billion, said a stock exchange statement. The post-IPO share capital of Tiansheng Pharmaceutical is 212 million in total, it said. The trading price on the Small and Medium Enterprise Board was 44 per cent higher than Tiansheng Pharmaceutical’s original IPO price. The firm, which principally engages in pharmaceutical manufacturing and medicine circulation, posted operating income of RMB2 billion and net profit of RMB224.5 million in 2016. DT Capital would achieve a 2.63x return if it were to sell its shares on the debut, while Leading Capital would enjoy a 3.25x return, according to calculations based on the company’s IPO prospectus.