China Oceanwide Group and IDG Capital has acquired the International Data Group.
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IDG Capital, a private equity and venture capital firm, will deploy greater resources and time in companies as they grow, in contrast to some quick exits in the past, Global Chairman Hugo Shong told Reuters in an interview. IDG Capital, which together with China Oceanwide Holdings Group recently bought tech… Read more »
Hsuanzhang has received a $22 million investment led by IDG Capital and China Soft Capital.
The investment team of the fund will comprise executives from both CEL and IDG Capital, to utilize both firms’ capabilities in private equity, capital market, investment banking and asset management.
The investment comes as a part of a $20 million round raised by the company. The first tranche of the round was raised a couple of months ago when the company got $15 million from Shunwei Capital, Legend Capital, Engage Capital and Redpoint Ventures.
Ecovacs claims to be China’s top robot home appliances maker with a 65 per cent market share, and currently has over 5,000 employees with corporate offices in Canton Ohio, Dusseldorf Germany, Tokyo Japan and Suzhou city in China.
IDG Capital ended year 2016 as among the few funds with the most unicorns in China.
The new fund, IDG Capital Fund III, will focus on investing in sectors such as technology, media & telecommunications, healthcare, energy, and consumer products, both in China as well as in global companies looking to enter the market.
However, the fundraising target for this vehicle is not identified in CYTS’s filing.
The fund will be actively involved in China UMS’s business integration, and set out to develop the third-party payment market.