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Bombshell: Wuhan Lab collaborators research funded for over a decade by Google, NIH, USAID, DOD & the Rockefeller Foundation

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EdTech

As China shakes up regulations, tech companies suffer

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The Exchange spent a little time on Friday ruminating on the impact of then-rumored regulation in China targeting its edtech sector. News that the Chinese government intended to crack down further on the education technology market hit shares of public, China-based edtech companies. It was a mess.

Then over the weekend, the rumors became reality, and the impact is still being felt today in the global markets.

But there’s more. China is also bringing new regulatory pressure on food-delivery companies and Tencent Music. More precisely, we’ve seen successive market-dynamic-changing moves from the Chinese government in the last few days, coming as 2021 had already proved to be a turbulent environment for China-based technology companies.


The Exchange explores startups, markets and money.

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Today we have to do a little bit of work to understand precisely what is going on with the various regulatory changes. Why? Because the Chinese venture capital market is a key player in the global venture scene. And Chinese startups have gone public on both Chinese, Hong Kong and U.S. exchanges; there’s a lot of capital tied up in companies impacted today — and possibly tomorrow.

For startups, the regulatory changes aren’t a death blow; indeed, many Chinese tech startups won’t be affected by what we’ve seen thus far. And upstart tech companies in sectors less likely to be targeted by central authorities may become more attractive to investors than they were before the regulatory onslaught kicked off. But on the whole, it feels like the risk profile of doing business in China has risen. That could curb the pace at which capital is invested, cut valuations and lower interest in the Chinese startup market from private-market investors able to invest globally.

Let’s parse what’s changed, examine market reactions and then consider what could be next. We want to better understand today’s Chinese startup market and what its new form could mean for existing players and future performance.

Changes

The edtech clampdown did not start last week. China’s edtech sector started to rack up penalties and fines in June, which led to what the Asia Times called “warning bells” in the sector. From there, things went from penalties to punishing regulatory changes.

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Source: https://techcrunch.com/2021/07/26/as-china-shakes-up-regulations-tech-companies-suffer/

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Private Equity

Trilantic Europe backs German Smile Eyes Group eyeing extensive network in the market

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Trilantic Europe has bought into German eye care company Smile Eyes Group eyeing its extensive network in the market.

The transaction is the debut deal for Trilantic Europe VI and the firm’s sixth investment in the European healthcare sector.

Smile Eyes specialises in providing eye laser and lens surgery to patients. It also offers treatment of eye diseases such as cataracts, retinal diseases, or glaucoma as well as aesthetic corrections.

Henrik Bodenstab, partner at Trilantic Europe, said, “We are impressed by Smile Eyes’s attractive position in the German ophthalmology market. Dres. Wiltfang and Bechmann have built an impressive network of highly specialised ophthalmic experts and we are excited to partner with them and their team to support their expansion strategy centred around the Smile Eyes concept.”

The firm closed Trilantic Europe V on €900m in 2015 but have not announced an official close for Trilantic Europe VI.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/trilantic-europe-backs-german-smile-eyes-group-eyeing-extensive-network-in-the-market.html

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Ecommerce

Equistone completes second French deal in two weeks, acquires children products brand Vertbaudet

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European buyout house Equistone has completed its acquisition of children products brand Vertbaudet. The deal marked the firm’s second investment in France in two weeks.

The company is expecting a €330 turnover in 2021 after thriving through the COVID-19 pandemic.

Vertbaudet offers children’s clothing and shoes, childcare essentials, toys and other children products. The firm said 80% of the sales of the company is now coming from its digital platform following a successful repositioning strategy since 2015.

The company still operates a network of 75 stores in France and has presence in Germany, Great Britain, Belgium, Switzerland, the Netherlands, Spain and Portugal.

Arnaud Thomas and Grégoire Schlumberger, partners at Equistone, said in a joint statement, “We were impressed with the executive team’s repositioning strategy. Vertbaudet’s omnichannel model has allowed it to thrive, even during lockdown periods. We look forward to supporting Vertbaudet as it continues to build growth momentum.”

Equistone had carried out six investments this year. It entered into an exclusive agreement last week with Orfite to acquire French modular construction specialist GSCM Group.

The firm exited UK workplace financial education specialist Wealth at Work to transatlantic private equity investor Aquiline Capital Partners last month.

Copyright © 2021 AltAssets


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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/equistone-completes-second-french-deal-in-two-weeks-acquires-children-product-brand-vertbaudet.html

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Private Equity

HIG Capital makes debut deal through new investment platform United Flow Technologies

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HIG Capital has announced the recapitalization of MISCOwater through the newly launched United Flow Technologies. UFT will be the firm’s investment platform for municipal and industrial water and wastewater market.

Founded in 1972, MISCOwater provides processing service and equipment to the municipal water, waste water and industrial markets. It operates in ten states in western US.

Rahul Vinnakota, managing director at H.I.G, said “We are very excited to partner with the MISCOwater management team, who have a proven track record of providing the highest levels of quality products and services to their customers on behalf of leading OEMs.

“The Company’s blue-chip customer base, close relationships with leading OEMs, and multiple growth levers make this an attractive investment.”

HIG Capital currently has $44bn of equity capital under management. The firm closed HIG Capital Partners VI on $1.3bn last year.

The firm also raised a $1.4bn credit fund in March to “capitalize on the compelling investment opportunities” available in the wake of Covid-19 volatility. The fund was already 25% committed at the time.

Recent deals from the firm include buying into guest-room entertainment provider Enseo last month and the divestment of German portfolio company WERU Group to Dovista in a trade deal earlier in the month.

Copyright © 2021 AltAssets


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Source: https://www.altassets.net/private-equity-news/hig-capital-makes-debut-deal-through-new-investment-platform-united-flow-technologies.html

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