China Forward Ventures

Hunan Greatdreams Cartoon Media Co Ltd., a Chinese developer of computer animation software, has raised $8.5 million in VC funding from Sequoia Capital.
Carlyle invests $25 million in China Orienwise Group, a credit guarantee company.
About one year after closing China's domestic stock markets to new public listings of China's domestic companies, the China Securities Regulatory Commission (CSRC) has promulgated a new measure that opens China's Shanghai and Shenzhen exchanges for new IPOs. Under the new regulation, Document 32, announced last week, listing companies must have had three profitable years of operation of about $4 million per year; the listing firm must meet corporate governance guidelines, including an independent board of directors; and the IPO must raise about $8 million. Finally the CSRC has strict requirements for the use of publicly raised funds and the CSRC retains the right to approve any proposed listings. The announcement is seen as a significant boost to China's hurting capital markets and as possibly providing VCs with a new exit route. http://www.csrc.gov.cn/en