China-based taxi ordering app Didi Dache's $700m cash injection last week indicates that funding for the sector is not limited to Uber.

The conglomerate is set to make a 12x profit on its $6.4m investment, made in 2006.

Wuxi Pharmatech invested alongside Fidelity Worldwide Investments as Adagene closed its series A round.

The entertainment producer will put up 20% of the capital for the fund, which will invest in a diverse range of sectors.

China-based iron ore mining company Hainan has raised $310m in a flotation in which majority shareholder Fosun's stake was diluted from 60% to 54%.

Tencent reinvested in the Chinese taxi ordering app as it closed a series D round that will help it fight off domestic rivals and US-based Uber.

Kingsoft, Xiaomi and Zhigu have contributed a total of $8m to the fund, formed in the wake of a patent law ruling by the Chinese government.