By Natalie Lung
Asset managers should look to the Asian nation as regulatory changes will lead to revenue growth in the long term, according to a Morgan Stanley report.
The financing was joined by Abu Dhabi-headquartered Mubadala’s newly created European Ventures Fund.
The company is seeking a valuation of at least $8 billion in the round.
GDS will use the proceeds from the investment to fund the expansion of its data centre capacity and for general corporate purposes.
In December, Lufax raised $1.33 billion in its Series C funding round from a dozen investors. It is funding growth by raising external capital as its Hong Kong IPO is on hold due to changing regulation in online consumer lending – a core business.
The $100.2 million in fines are the toughest actions yet taken by the regulator as part of its campaign against what it sees as shoddy listing standards.
Matrix Partners China and Huaxing Growth Capital, the private equity arm of China Renaissance, also participated in the round.
It plans to use the proceeds from series C to improve its supply chain, expand its offline channels and add more product lines.
Q Venture Partners focuses on global IoT and enabling technologies.
Key pillars of the new law will remove a major threat to investors in its massive technology sector, while putting thousands of overseas companies on notice they may need to renegotiate joint ventures in China.