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SQC News Issue 4

2020-12-30    16:00

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Direct Investment


Mininglamp Technology has completed a series E+ round of financing at US $200 million

In December 2020, Mininglamp Technology, a portfolio company of Starquest Capital, announced that it has completed US $200 million in Series E+ round of financing led by the Russia-China Investment Fund. 

Other investors included Tencent. The company has completed total amount of US $500 million in Series E and E+ arounds of financing.

As a global leading enterprise-level intelligent service platform for data analysis and decision making, Mininglamp Technology will continuously focus on its product strategy and investments in technology and market.

In the meantime, Mininglamp Technology and its investors will jointly explore the international market under the "One Belt, One Road" initiative and the industry digitalization opportunity under the new infrastructure wave.


 FOF Investment

Starquest Capital's portfolio GPs made investments in Healthcare, Consumption and Technology

From November to December 2020, Starquest Capital's portfolio GPs completed investments in healthcare, consumption and technology.

HEALTHCARE
A medical surgery robot Remebot completed RMB430 million in Series D round of financing. Matrix Partners China participated in this round of financing and other investors included Zhongguancun Longmen Investment and CSC. An oncology precision medical enterprise -Gene+ completed Series B+ round of financing of RMB250 million. Highlight Capital participated in this round and other investors included Huagai Capital, AIER Healthcare and WisdoMont Asset Management. 

GRIT Biotechnology, a cell therapy drug developer raised RMB100 million of A round of financing. Sherpa Capital participated in this round and other investors included Matrix Partners China and Decheng Capital.

CONSUMPTION
BLOKS GROUP completed Series A round of financing of RMB330 million. Source Code Capital and Gaorong Capital participated in this round of financing. Amiro, a photoelectric beauty brand, completed RMB100 million of Series B round of financing. Highlight Capital participated in this round and other investors include Fortune Capital, CHVP Asia, Onew Capital and Shunwei Capital.

TECHNOLOGY
Matrix Partners China led the investment in WINGCOMM in Series B round of financing at hundreds of millions yuan. WINGCOMM is a fabless IC company with a clear focus on providing high-performance and high-quality integrated circuits and photonics for fiber-optical -communication. Other investors included Unicom CICC, SVCICC, ZTE Venture Capital, etc. A domestic EDA manufacturer X-EPIC raised RMB200 million in Series A round of financing from investors including Zhenfund, Gaorong Capital, Wuyuan Capital, HillHouse Capital and V Fund.

Source Code Capital and Sequoia Capital invested in Mech-Mind Robotics, a well-known AI+3D industrial robot solution provider in China, which raised nearly RMB100 million in Series B+ round of financing. A machine vision intelligent manufacturing provider DINNAR completed RMB100 million in Series B round of financing from investors including Source Code Capital, Yuanhai Minghua, Xiaomiao Langcheng, etc.

In addition, a number of portfolio companies of GPs' have completed next round of financing, such as ROOTCLOUD, the industrial internet of things platform, completed RMB800 million in Series C round of financing, and the labor management cloud service provider Gaia Works completed Series D1 round of financing of RMB500 million. Juventas Cell Therapy Ltd., a cell therapy drug R&D enterprise, announced the completion of a new round of financing of RMB450 million.

Whale, a digital retail solution provider, raised several hundred million yuan in Series A and A+ rounds of financing. YOUIBOT Robotics, an industrial robots solution R&D enterprise, completed Series A round of financing of nearly RMB100 million, and AIPARK, a smart parking management system R&D firm, completed Series D+ round of financing. 

Singleron Biotechnologies, a R&D firm which develops high-throughput single-cell multicomics platform products and their clinical applications, recently completed Series A1 round of financing of over US $10 million.

Starquest Capital portfolio company POPMART has been successfully listed on Hong Kong Exchanges

On December 11, POPMART, a portfolio company of Starquest Capital, was officially listed on the main board of the Hong Kong Exchanges (9992.HK) at an issue price of HK $38.5 per share. The latest market capitalization exceeded HK $120 billion, and the latest closing price rose more than 130% over the issue price. POPMART is a leading Chinese toy company. Starquest Capital invested in POPMART at the beginning of 2019, and it is the only fund of funds that directly invests in the project.


Industry Recognition

Starquest Capital received multiple industry honors

In the last two months, Starquest Capital was awarded several industry honors from Jiemian.com, Beijing Private Equity Association, Lieyunwang, FOF Weekly, etc. 

  • On November 5, the Beijing Private Equity Association released the 2019-2020 China PE/VC Industry Appraisal, Starquest Capital was named as 2019-2020 TOP10 Best Market-oriented FOFs. Mr. Frankie Fang, founding managing partner of Starquest Capital, was awarded as the Outstanding Young Investors in 2019-2020 Chinese Private Equity Industry. 
  • On November 26 and 27, FOF Weekly released the List of China’s 2020 People of the Year, and Mr. Frankie Fang was awarded as the Person of the year 2020 - TOP10 Most Responsible Investors. 
  • On December 2 and 4, Lieyunwang held the 2020 CEO Summit for NFS and the Lieyunwang Venture Capital Award Ceremony, Starquest Capital was named as China’s TOP20 Most Favored FOFs by GP in 2020.
  • On December 19 and 20, the 2020 China’s FOF Forum was jointly hosted by the VC Committee of China for the Promotion of Science & Technology and Finance and the China’s FOF Alliance. Starquest Capital was named as China’s TOP20 Best Market-oriented FOFs in 2020. 
  • On December 23, Shanghai United Media Group (SUMG) / JIEMIAN.COM held the 2020 Annual Financial Meeting, and Starquest Capital was named as China’s TOP30 Private Equity Institution in 2020.

Starquest Capital Frankie Fang was invited to attend the Interface Financial Union Annual Financial Union Meeting

On December 23, Starquest Capital was invited to participate in the 2020 Annual Financial Meeting, which held by Shanghai United Media Group (SUMG)/JIEMIAN. Mr. Frankie Fang, founding management partner of Starquest Capital, was invited as a guest speaker and delivered a keynote speech on the topic of "FOF, an Innovative Connector in China".


ESG Insight

On November 16, Starquest Capital was invited to attend the ESG Forum 2020 of AVCJ (Asian Venture Capital Journal). Mr. Frankie Fang, founding management partner of Starquest Capital, had a talk with Firstred Capital, an important member of Starquest Capital's portfolio, to share how GP plays a role in the "S society" of the ESG under the COVID-19 epidemic.

James Jin, managing director and CFO of Starquest Capital, and international organizations such as PRI, Baring Private Equity Asia, Advantage Partners, NewQuest and Asia-Pacific investment institutions, discussed the development of ESG information disclosure and related laws and regulations in Asia.

Mr. Frankie Fang was awarded the Siyuan Wisdom Award of the Year

On December 20, Mr. Frankie Fang, founding management partner of Starquest Capital, donated RMB 1 million to Shanghai Jiao Tong University which is his alma mater. Mr. Fang supports the " Siyuan" project, which supports and encourages excellent full-time teachers. Mr. Fang also established Zhengyang Scholarship to award excellent students of Antai College and School of Electronics, Information and Electrical Engineering (SEIEE) every year.


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