SQC News Issue 2
2020-07-19 16:00
Direct Investment
Miaoshou has completed a series D1 round of financing at amount of RMB600 million
In June 2020, Miaoshou, a portfolio company of Starquest Capital, announced that it raised RMB600 million in a series D1 round of financing from investors including Sequoia Capital, Qiming Venture Partners and CITIC Securities. Founded in 2015, Miaoshou has rapidly expanded its business platforms from Yuanxin Pharmacy to include online hospital and health insurance Yuanxin HUI BAO, forming a closed-loop business service platform.
FoF Investment
POPMART filed an IPO in Hong Kong on June 1
In June 2020, POPMART, a portfolio company of Starquest, has filed an IPO in Hong Kong. POPMART, established in 2010, is a leading Chinese toy company. POPMART designs and sells mini cartoon toys and has built a platform incorporating business in artist brokers, new media entertainment, authorization of IP derivatives and large exhibitions and activities hosting.
Starquest Capital's portfolio GPs have continued their capital deployment in Healthcare, Consumer, and AI
From May to June 2020, Starquest Capital's portfolio GPs completed investments in healthcare, consumer and AI. Sherpa Capital participated in a series C round of financing of Vazyme Biotech, a R&D firm of life science products and in vitro diagnostic reagents. Other investors of Vazyme Biotech included China Life. Sherpa also invested in a series A2 round of financing of Hangzhou Jianhai Technology. Other investors included Silicon Valley Bank. Matrix Partners China and BA Capital invested in a series A round of financing in a low-temperature yogurt brand Simple Love Yogurt. Other investors included Maison Capital and CITIC Agricultural Fund. In addition, BA Capital exclusively invested in a series B round of financing of a barbecue chain brand Long Time Ago Barbecue. Source Code Capital invested in a series A round of financing of a new Chinese contact lens brand Moody. Other investors included Matrix Partners China and Hillhouse Capital. Gaorong Capital led a RMB300 million series C round of financing in AIPARK, a provider of intelligent parking. Other investors included Chang Shang Kunzhong and Zhongguancun Science City Science Innovation Fund. Linear Capital participated in a series Pre-A round of financing of HONG JING Drive, other investors include Bluerun Ventures, Translink Capital and others.
A number of portfolio companies of GPs' have completed next round of financing including VitaVitro Biotech, a supplier of auxiliary reproductive technology and products, Lixiang Car, an electric car provider, NarwalRobotics, a provider of home service robots, Liuhe Ningyuan, a pharmaceutical CRO and CDMO service provider, and KK Group, a new retail collection store brand and etc.
Multiple deals are in process of IPOs
A number of Starquest portfolio companies are in process of IPOs. For example, XGIMI, a provider of high-performance multi-functional smart projectors and laser TVs, HOB Biotech Group (HOB) of in vitro diagnosis manufacturer, and Chemclin Diagnostics Corporation of external diagnosis reagents and instruments filed an IPO application on STAR Market, and entered the enquiry stage. Kintor Pharmaceutical, an innovative drug developer went public in Hong Kong on May 22, and its latest market capitalization was nearly 5.5 billion Hong Kong dollars.
Market Recognition
Starquest Capital's porfolio GPs received multiple industry honors
Starquest Capital, the only private equity institution, was invited to participate in the online forum of the Shanghai Stock Exchange, and Mr. Frankie Fang, founding managing partner of Starquest Capital, was invited as the guest speaker for the seventh session
ESG Insight
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