2017-投资界电子周刊No0556-英文版_13页_451kb

PEdaily E-Magazine Issue No. 556 Summary

Core Content

PEdaily E-Magazine, formerly known as Zero2ipo e-Weekly, is a weekly publication targeting professionals in the private equity (PE) and venture capital (VC) sectors. It provides timely, accurate, and in-depth market reports, covering investment and financing news, industry insights, data observations, personality profiles, and expert opinions. The magazine is supported by Pedaily.cn, which leverages its extensive investor network and over 10 years of research resources from the Zero2IPO Group to offer comprehensive data and analysis.

Main Views and Key Information

Global IPO Trends in Q3 2012

• In Q3 2012, 102 enterprises went public globally, raising a total of US$20.32B.
• 57 Chinese enterprises were listed, accounting for 55.9% of the total IPOs, with US$6.00B raised, representing 29.5% of the global total.
• The average IPO size for Chinese companies was US$105.31M, while the global average decreased to US$199.22M due to the absence of large-scale IPOs like Facebook.
• Both the number of IPOs and the financing amount saw significant declines: 8.1% year-over-year (Y-O-Y) and 20.3% quarter-over-quarter (Q-O-Q) in terms of number, and 34.6% Q-O-Q and 35.9% Y-O-Y in terms of financing amount.

Key Investment News

• Mogujie.com closed its Series C financing of US$200M led by IDG, with Qiming Venture Partners and Bertelsmann AG as co-investors. The company, founded in 2011 by Chen Qi, had previously raised US$20M through Series A and B.
• Ddmap.com, a local information service platform, received investment from Alibaba and Citibank, with insiders predicting the amount to be in the tens of millions of dollars. The investment aims to accelerate the development of its O2O e-commerce platform.
• Gold Match Silver Merge & Pay Investment Fund, established by over 10 financial institutions and listed companies, invested in Jiangxi Guoying Tengyue Micro-electronics Co., Ltd., expanding into military-level wireless communication technology. The fund manages over RMB10B in assets.
• NLVC led the Series B financing of Anquanbao.com, a network security company under Innovation Works. Innovation Works had previously invested in Anquanbao.com in its first round, and the Series B financing is primarily from venture capital.
• Disney announced its US$4.05B acquisition of Lucasfilm, including the purchase of Star Wars and Raiders of the Lost Ark franchise rights. The deal is structured with half cash and half private placement.
• B-ray Media acquired Gamegoo, a profitable company under Pony Ma, for RMB1.04B. The deal includes a Valuation Adjustment Mechanism (VAM), allowing B-ray Media to purchase the remaining 30% stake if Gamegoo’s net profit in 2014 is zero or positive.
• Royal DSM NV invested in the fourth fund of Tsing Capital’s China Environment Fund, focusing on clean technology. Tsing Capital manages US$600M in outbound environment funds and RMB1B in RMB clean tech funds, targeting new energy, energy conservation, environmental protection, and related sectors.

Innovation Works Fundraising

• Innovation Works completed the fundraising of its second USD fund with a total of US$275M, exceeding its target of US$250M.
• The fund raised US$148M in July and US$224M in September, with 42 limited partners (LPs) participating, mainly from the U.S., UK, and Hong Kong.
• 12 out of 70 LPs from the first USD fund also contributed to this round, indicating strong investor confidence.

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Conclusion

This issue of PEdaily E-Magazine highlights the dynamic landscape of the PE/VC industry in China and globally. It emphasizes the continued decline in IPO activity and financing, while also showcasing significant investment deals and the growing interest in clean technology and e-commerce sectors. The publication serves as a vital resource for industry insiders, offering insights and updates that reflect the current trends and developments in the investment world.