ZhenFund, a China angel investment firm founded by Xu Xiaoping, the co-founder and former Vice Chairman of NYSE-listed Chinese education services provider New Oriental, has invested an undisclosed RMB 7-digit figure in a second round of new funding for Guangzhou Zhoumo Network Technology. The China student-focused mobile SNS application developer will use the funds to add features to its "Super Curriculum" app and expand its development team.

IDG Capital Partners, the corporate venturing unit of international research group IDG, has re-invested in China-based Fenbi Technology, an online education SNS platform operator. IDG Capital Partners was joined by new investor Matrix Partners China in the $7m series B round.

LVMH corporate venturing unit, L Capital Asia, has exceeded its original target for its second private equity fund, announcing it has reached its hard cap of US$950m. Launched in March 2013, targeting commitments of US$800m, the fund raising exercise has been completed within six months.

China-based online trade site, Alibaba, has increased its stake in China-based mobile browser company UCWeb and in the process replaced two investors.

Advertising technology company Affle is launching a $3.3m corporate venturing fund to back mobile advertising entrepreneurs in the Asia-Pacific region.

Japan-based Rakuten, an electronic commerce, internet services and digital media content company, is on an ambitious path to one day go neck and neck with Amazon and Lovefilm subsidiary, Netflix. Its recent acquisition of Singapore-based Viki.com, a crowd-sourcing multi-lingual video streaming company, is likely to give it the global edge it needs to build scale. The Japanese company is reportedly set to pay close to $200m for Viki, according to media sources.