Long-term backer Alibaba Hong Kong Entrepreneurs Fund and new investor Lenovo Capital both took part in the digital wealth manager's pre-series B round.

Nine companies will participate in the internet company’s three-month accelerator programme, which is set to launch next month.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Alibaba is set to retain a 32% stake in its financial services spinoff, which has secured regulatory permission for a dual listing that could value it at more than $250bn.

The Tencent and Didi-backed online automotive marketplace, which was valued at $1.7bn just two years ago, could sell its major assets for next to nothing.

The diagnostics technology developer picked up Jemincare and Haier Biomedical for its second funding round since spinning off from parent company 3D Medicines in 2018.

Tencent-backed online learning platform developer Yuanfudao was reportedly valued at $15.5bn post-money in its series G2 round.

Softbank China and Sinopharm-CICC Capital returned for a series B-plus round after backing the online pharmacy's 2019 series B.

Utec was among the backers that helped University of Tokyo spinout Japan Data Science Consortium complete a $27.5m round.

The corporate-backed on-demand ride provider is reportedly looking at Hong Kong for a possible initial public offering, which could be preceded by more funding.