Asian Sovereign Wealth Fund VC Roundup – August 27, 2015

Posted on 08/27/2015


Wealth Fund Backs Beats Competitor

Shenzhen-based 1More Inc., an audio device company established by three former Foxconn executives, is looking to challenge Apple’s newly prized Beats Electronics LLC. 1More has received an investment from Chinese smartphone manufacturer Xiaomi Corporation. The audio equipment maker is keen on expanding globally and is in discussions to purchase or invest in a foreign audio brand. Other investors in 1More are GGV Capital and Singapore’s GIC Private Limited. GGV Capital led the US$ 15 million Series B round.

Freee Raises Series C Round

Freee, a Japan-based provider of automated online accounting software, raised US$ 30 million in a Series C round from DCM, Recruit Holdings and Japan Co-Invest. Some of Freee’s original investors include Pavilion Capital, a unit of Temasek Holdings and Recruit Strategic Partners, the venture capital arm of Recruit Holdings.

Get News, People, and Transactions, Delivered to Your Inbox