Wednesday, 2024 May 29

Deals | China DealBook: Tencent’s TOPIC Fund bets on self-media Chaping; Qifeng Caijing rides the blockchain wave


Company:  Chaping (差评)

Round: Series A, May 2018

Amount: RMB 30 million (approx. USD 4.7 million)

Investors:  Tencent Open Platform Interest-based Content Fund, Yunqi Partners, Zhonghuan Capital


Established in July 2015, Chaping was originally a self-media account on WeChat that has expanded to e-commerce and gadgets review. Most of the content on Chaping are satires on Chinese technology companies.

According to the startup, it now has a DAU of 400,000 – 500,000. The GMV of its e-commerce unit has reached RMB 4 million (approx. USD 626,272) and is expected to reach RMB 10 million (approx. USD1.6 million) in the second half of 2018.


Company: NewStyle Media (新湃传媒)

Round: Series A, May 2018

Amount: almost RMB 100 million (approx. USD 15.6 million)

Investors:  Shenzhen Qianhai Xingwang Investment Management


Founded in 2015, NewStyle Media’s business revolves around film production and publication, gaming, events, and entertainment agency. It has partnered with Korea’s SBS TV to host its popular reality show Running Man in the Asia-Pacific region.

In 2016, the startup had raised ten million yuan (approx. USD 1.6 million) from BJWKZL and is currently raising a Series B round.


Company: Donglun Media (东仑传媒)

Round: Series A, May 2018

Amount: over RMB 100 million (approx. USD15.6 million)

Investors:  Shanghai Fuyi Wenhua (上海复逸文化)


Founded in June 2008, Donglun Media is a film and TV series production and publication company. It also provides marketing and publication services to overseas film companies.

After the financing round, the startup plans to expand into online drama series and short videos.


Company:  Qifeng Caijing (起风财经)

Round: Angel round, May 2018

Amount: over RMB 10 million (approx. USD 1.6 million)

Investors:  Shuimu Blockchain Fund (subsidiary fund of InnoAngel Fund), Capital Development Investment Fund, Grey Tile Capital


Qifeng Caijing is a self-media account on WeChat focusing on blockchain technologies. It published its first article in March.

According to the white book on the Chinese blockchain industry 2018, published by China’s ministry of industry and information technology, there are 58 media startups in the blockchain space, which have attracted 28 investments.




Company:  FineEx (发网)

Round: Series C, May 2018

Amount: RMB 370 million (approx. USD 58 million)

Investors:  SinoOcean Capital,, Oriental Jiafu Asset Management (东方嘉富), Aurora Private Equity, DYEE Capital


Founded in 2006, FineEx is a logistics outsourcing service that provides warehousing, order fulfilment, and delivery management. According to the startup, it has served 1000 business clients and 200 million consumers.

With the fresh funds, FineEx plans to expand in China, building 300 warehouses that cover a total of 3 million m2. It also plans to offer financial services and establish a cloud platform.


Xiaochun Zhao
Xiaochun Zhao
I'm Xiaochun with KrASIA [kri’eɪʃə], a newborn digital media with a dedication to help Asia uncover its innovations and to create.

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