Days ago, Zhejiang-based Silicon Paradise Venture Chaoyang Venture Capital Co., Ltd. (Chaoyang VC) acquired stakes from Miaxis Biometrics Co., Ltd. (Miaxis) for RMB14M.

Shanghai Belling Corp., Ltd. (Shanghai Belling, 600171) originally planned to transfer its 20% stake to the management level of Miaxis for RMB20M. However, the plan had to be rejected because the management level of Miaxis got financed in another way, bringing in not enough capital remained for Shanghai Belling.

Chaoyang VC and Zhangjiang Venture acquired the 20% stake. Therein, Chaoyang VC purchased a 12.67% stake for RMB14M; Zhangjiang Ventures acquired a 7.33% stake for RMB8.10M.

Chaoyang VC is an investment fund under Silicon Paradise Venture, a VC firm focusing on hi-tech enterprise investment.