On August 19, Dongguan Qingshuiwan Phase II Venture Capital Partnership (Limited Partnership) was formally established, the newest venture capital firm funded by Tencent.
In last week’s China VC news, Moore Threads raked in a mind-boggling pre-A round just 100 days after its founding, ECARX raised $200 million and Ocean Link secured commitments for a new fund.
Tencent Music Entertainment Group has led a consortium along with the firm’s wholly-owned subsidiary to acquire an additional 10% equity stake in Universal Music Group.
AI startup Emotibot raises 200 million Series C round.
Leading ride-hailing company Uber Technologies Inc. is seeking to sell part of its $6.3 billion stake in Didi Chuxing, Bloomberg reported.