Xiaomi-backed mobile terminal supplier Longcheer nets $100m in Series B Xiaomi Mi 8 Lite. Source: Alejandro Morgado/Unsplash March 12, 2021 Chinese mobile intelligent terminal solutions provider Shanghai Longcheer Technology has raked in $100 million in a Series B round of financing after the firm’s failed listing attempt three years earlier. The deal was co-led by Chinese government-backed investment firm Shenzhen Capital Group, and Shenzhen Qianhai Wanrong Hongtu Investment Fund, a 4-billion-yuan dual-currency fund that specialises in venture capital (VC) investments in China. Semiconductor-focused investor Accurate Capital; Jintaifu Capital Management, an investment platform of China’s Xiangcai Securities; and Huaxu Industrial Investment Fund participated in the round. Other investors include Forebright Capital Management, a fund management spin-off from Hong Kong-listed financial services firm China Everbright, and growth equity fund FutureX Capital.