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Joy Capital closes $700M for early-stage investments in China

Joy Capital, the venture capital firm that’s backed Luckin, NIO, Mobike and other investor darlings in China, just raised $700 million for a new fund focusing on early-to-growth stage startups.

Launched in 2015 by a team of former investors at Legend Capital, the investment arm of PC maker Lenovo’s parent company, Joy Capital made the news official (in Chinese) on Monday. It didn’t identify the limited partners in this new corpus of funding but said they include “top” public pension funds and insurance companies. Its existing pool of investors counts those from sovereign wealth funds, education-focused endowment funds, family funds and parent funds.

The fresh money boosted Joy’s total tally to over 10 billion yuan ($1.45 billion) under management, with a focus on backing cutting edge technologies and companies involved in the digital upgrade of China’s traditional sectors, or what Joy’s founding partner Liu Erhai (pictured above) dubbed the “new infrastructure” in an op-ed for the China Securities Journal. Targets can include the likes of logistics companies, online car rental platforms or bike-sharing apps.

As a relatively young fund, Joy Capital has so far achieved a few large outcomes. One of its portfolio companies NIO became China’s first electric vehicle startup to go public in the U.S. as a rival to Tesla. It’s also funded Luckin, the Starbucks nemesis from China that floated in the U.S. only 18 months after inception. The fund’s other big wins include Mobike, the bike-sharing pioneer that was sold to Meituan Dianping for $2.7 billion and fast-growing house-sharing unicorn Danke Apartment.

Joy Capital’s new raise arrived at a time when Chinese venture investors are coping with a cash crunch amid a cooling economy exacerbated by the expansion of U.S. tariffs. We reported that private equity and venture capital firms in the country raised 30% less in the first six months of 2019 compared to a year earlier, and the number of investors that managed to attract fundings was down 52% in the same period.

8 of the best laptops for business: See why the MacBook Pro and Lenovo ThinkPad top our list

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While laptops are wonderful for watching movies and TV shows, sometimes you just need a dedicated machine for getting the job done with no distractions. A great laptop for business needs to be versatile for an assortment of daily tasks, including word processing, spreadsheets, presentations, and web research. 

In the business world, “the dog ate my homework” is not a good excuse. Business laptops need to be light enough to easily take to meetings and conferences across the country (or around the world), while also performing under pressure and maintaining battery life. The last thing you want is your laptop dying in the middle of an important presentation or meeting.  Read more…

More about Microsoft, Lenovo, Huawei, Laptops, and Macbook Pro

Lenovo rides the nostalgia wave, promises to bring back Motorola name

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Well, hello Motorola. 

After being unceremoniously killed by its Chinese owner Lenovo in 2016, the Motorola brand name might be coming back. 

This is according to Cnet, which spoke to Motorola Chairman and President Aymar de Lencquesaing on Sunday. 

According to de Lencquesaing, the brand name will return because Lenovo now has “clarity on how we present ourselves.”

We suspect, however, that it might have something to do with the buzz generated by BlackBerry and Nokia, both of which have successfully played the nostalgia card at the Mobile World Congress this year Read more…

More about Smartphones, Moto, Motorola, Lenovo, and Business

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We don’t need more Surface clones

img_0046 When Microsoft launched the Surface line back in 2012, its combination of a tablet and keyboard cover (married with a smart kickstand), was innovative. With it, Microsoft surely hoped to kickstart a bit of innovation in what had become a rather stale market for Windows laptops and an almost non-existing market for Windows tablets. Instead of innovation, though, what we’re seeing now is… Read More

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Review: Lenovo Yoga Book

Lenovo’s Yoga Book is the most striking personal computer I’ve seen in years. More than the original iPhone, or Sony’s X505, or the Messagepad, here’s technology that seems a few years ahead of schedule. It’s compact, attractive and thinner than anything else that might be called a laptop. Imagine two hinged pieces of black glass, one of which glows with the internet and the other with Okudagrams, and you have the Yoga Book. (more…)

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Lenovo’s new $300 Android tablet features the Yoga Book’s keyboard/sketchpad

unnamed-1 Lenovo’s Yoga line has offered some of the most innovative tablet form factors around, from modular projectors to digitizing pads of paper. The A12 borrows the latter from its predecessor — and manages to do so at a dollar under $300. The specs are fairly middling, as out would expect from the price point, but the 12.2-inch HD display swivels around at 360-degrees from the keyboard,… Read More

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Samsung and Chinese brands utterly dominated India’s smartphone market in Q4 2016

india phone India is in the midst of a revolution: the Chinese smartphone revolution. For the first time on record, there were no Indian companies ranked among the top five smartphone sellers in the country during the most recent quarter of business. Samsung and a glut of ambitious, young companies from China have been busy pushing their devices in India, one of the few global markets that has… Read More

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