China: IDG, Bertelsmann back $100m round in e-commerce firm Club Factory

Photo: Club Factory website

Club Factory, a Chinese e-commerce platform, has raised a $100-million Series C round led by IDG Capital and Bertelsmann Asia Investments (BAI), according to a report by AVCJ.

Others who participated in the round include Chinese investment firms Kunlun Fund, ZhenFund, and Frees Fund. The proceeds from the latest fundraising will be used to help the company improve its logistics and customer services.

Founded in 2014, Zhejiang-based Club Factory enables users to shop directly from factories around the world to benefit from a better price and better service. Consumers can buy anything from clothing and accessories to gadgets on its platform. Today, it offers its services in several countries around the world.

Founded in 1993, IDG Capital has made over 600 investments in companies in China and around the world. Most recently, it joined SoftBank Vision Fund and SBI Group in jointly providing $2.2 billion in private placement financing to three subsidiaries of Ping An Insurance. It also co-led a $348-million Series B funding round in Chinese electric car startup Xiaopeng Motors.

China-focused Bertelsmann Asia Investments is backed by media, services and education company Bertelsmann. It focuses on new media, internet and mobile internet, online education, new technologies, outsourcing and services sectors. It owns stakes in 70 startups, according to its website. Four of its portfolio companies conducted IPOs last year – premium lifestyle platform Secoo (Nasdaq), online and financial services provider Yixin Group (Hong Kong Stock Exchange),  fintech company Lexin and digital marketing platform iClick (both on Nasdaq).

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.