FAST NEWS: Biotech Startup Sciwind Lands $70 Million in New Funding

The latest: Biotech startup Hangzhou Sciwind Biosciences Co. Ltd. announced it has closed its third funding round, raising 450 million yuan ($70 million). New backers in the latest round included Chinese investor Loyal Valley Capital, as well as veteran investor IDG Capital, according to a company announcement on Tuesday. Looking Up: Sciwind’s latest funding comes just eight months after it completed a previous round, its B-Round, in which it raised $37 million. Such rapid funding is relatively common for Chinese drug startups, though also indicates strong investor interest in the…

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FinVolution Tests Regulatory Tolerance With First Asset-Backed Securities Issue

Online loan facilitator issues 200 million yuan worth of ABS months after Ant Group scrapped plan for much larger similar offering Key Takeaways: •      Online loan facilitator FinVolution has issued its first batch of 200 million yuan worth of asset-backed securities as a new form of fundraising tool •      Move comes four months after the larger Ant Group canceled a much larger ABS sale totaling 18 billion yuan By Warren Yang Online loan facilitator FinVolution Group (FINV.US) is undergoing its own low-key revolution in China’s fintech realm, quietly adding asset…

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