A survey done by AsiaHedge showed that Asian hedge funds were able to add assets of nearly $20 billion in 2013, representing a strong performance after three years, Reuters reported.
China
Chinese posture-correcting wearable device Giraffe Friend launches crowdfunding campaign on DemoHour
Giraffe Friend, a wearable device that reminds the user to correct bad posture to prevent backaches, launched a crowdfunding campaign on DemoHour and has already raised $14,000 (CNY87,527).
Chinese messaging app WeChat releases image recognition to third-party users
Guangzhou, China-based mobile messaging app WeChat released its image recognition SDK (Software Development Kit) this week to allow third-party users to add the technology to their accounts.
Alibaba Group Holding Ltd unit to buy Chinese department store operator Intime Retail Group Co
Alibaba Group Holding, through its unit, will be buying a stake and subscribing to convertible bond shares in Intime Retail Group Co, a department store operator, Bloomberg reported.
RuiYi secures $15M in Series B funding round
RuiYi Inc, a biotech firm based in California and China, has secured $15 million for its Series B funding round from its existing backers, a statement about the funding said.
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Nokia Growth Partners led the Series B round for China-based online food service platform Meican.com which raked in $10 million, a statement about the funding said.
Alibaba invested $215 million in the newest round for Tango while previous investors poured $65 million in the latest $280 million round for mobile messaging network Tango, VentureBeat reported.
Chinese multimedia and Internet firm Shanghai Media Group acquired the rights to remake the popular 2013 South Korean variety show 'Grandpas Over Flowers' for an undisclosed amount.
Ping An Insurance Group Co has worked with Ctrip.com International to provide smog insurance to visitors traveling to Beijing, Xi'an, Harbin, Chengdu, Guangzhou, Shijiazhuang and Shanghai, Bloomberg reported.
After its recent purchases of Motorola Mobility and IBM's server business, Chinese personal computer (PC) maker Lenovo said that it will continue its string of acquisitions to drive its growth.
The foreign direct investment of China went up 10.4% from January to February this year but the holidays of the Lunar New Year caused February figures to drop, Reuters reported.
Santa Monica, US-based media entertainment firm Content Media Corp acquired Beijing, China-based producer Alive Group for an undisclosed amount to gain access to the booming Chinese market.
OKCoin raised $10 million in a Series A funding round led by Chinese venture capital firm Ceyuan to become the biggest Bitcoin exchange in China according to trading volume.
Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.
