DEALS, FUNDS, IPOs
Lightspeed China leads $60 million, Series E injection in MingMed, a biotech firm in cancer therapy and vision care.
IDG and Qiming lead $70 million investment in Chinese biotech contract and manufacturing firm ZhenGe.
Lilly Asia Ventures, Sequoia put $67 million in China's Qihan biotech in genome editing
Qiming Venture portfolio company Connect Biopharm, which develops treatments for inflammatory diseases, lists on Nasdaq and brings in $191 million.
Chinese Q&A website Zhihu raises $523 million in NYSE IPO, backed by Kai-Fu Lee's VC firm Sinovation, Qiming, Baidu and Kuaishou. "Zhihu has already grown up and is on the path to becoming a multifaceted super app centered around knowledge, while Quora is still a question and answer website with an app," said Kai-Fu Lee in Tech Crunch. "I really think that U.S. entrepreneurs should look to China for ideas."
Crypto fund DragonFly Capital launches a new $225 million fund to invest in projects across the crypto space.
Comeback Capital launches $10 million AngelList rolling fund to invest in Heartland tech startups.
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