SWFI First Read, February 26, 2017
Chinese Government Capital Backs Haoqiao.cn
Haoqiao.cn is a Chinese hotel search and booking engine that was founded in 2013. Haoqiao has raised 120 million RMB (US$ 17 million) in a fresh Series B round from China Merchants Capital Investment Co. and China National SME Development Fund. This is the China National SME Development Fund’s second online travel company investment in 2017 so far. Haoqiao claims its 2016 revenue was around 900 million RMB (US$ 130 million). Haoqiao raised an angel round back in 2013 and a Series A round in 2014 both from IDG Capital. Hong Kong-based Shun Hei Capital also invested in Haoqiao.
Marc Benoiff Participates in Seed Round in Fossa
Marc Benoiff, Founder of Salesforce, invested in San Francisco-based Fossa, a provider of an open source management and license compliance tool. Bain Capital Ventures led the US$ 2.2 million seed round.
China Zhenhua Oil Inks Deal for Two Natural Gas Fields in Bangladesh from Chevron
Beijing-based China Zhenhua Oil Co.,Ltd. has agreed to acquire two natural gas fields in Bangladesh from Chevron. The transaction is valued at around US$ 2 billion. Founded in 2003, Zhenhua Oil is a state-owned energy company in China and is a unit of China’s defense industry conglomerate China North Industries Corporation (Norinco). Joining the deal is the China Reform Holdings Corporation Ltd, an investment entity under China’s State-owned Assets Supervision and Administration Commission (SASAC), which will take a 40% stake in the fields, while Zhenhua Oil will control the 60% share. This deal is not finalized and the Bangladesh government many intervene.
BDC Capital Participates in Venture Round in Roadmunk
Toronto-based Roadmunk, which builds visual platforms for product roadmap collaboration, has raised C$ 1.5 million in a recent round from Felicis Ventures, Garage Capital, Golden Venture Partners and BDC Capital.
Northern Trust Hires Fidelity for Record Keeping in the Northern Trust Company Thrift-Incentive Plan
[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Contact the writer or creator of this article or page.
Questions or comments: support(at)swfinstitute(dot)org
Follow on Twitter at @swfinstitute and @sovereignfunds
Learn, Attend and Network: Institutional Investor Events and Summits
Go Back: HOME: Sovereign Wealth Fund Institute