China Dealbook: Huizuche raises $30m Series B, CMC Group invests in VS Media

Chinese Yuan notes. Photo: Reuters

Private equity firm H&Q Asia Pacific becomes the biggest investor of start-up Huizuche with over $30 million fundraised in series B round while Chinese property developer Hengmao goes to extremes with an A$88,888,888 project buy in the name of good fortune.

H&Q Asia Pacific raises $30 million in Huizuche 

Huizuche, a car rental services startup which provides car rental services for outbound Chinese tourists, raised $30 million in a Series B round led by Asia-focused private equity firm H&Q Asia Pacific.

H&Q Asia Pacific which specialises in control investments and early stage venture capital investments, has managed 28 funds since 1985. Northern Light Venture Capital and VentureShares also participated in the round.

Set up in 2014 Huizuche provides airport pick-up and car rental services to Chinese outbound tourists in over 180 countries and 5,000 international cities. It also has partnerships with 320 car rental companies. Funds will be used to improve its services and mobile apps.

CMC Holdings makes Series B investment in VS Media

CMC Holdings, an investment platform affiliated with China Media Capital (CMC), has made an undisclosed series B round in VS Media, a multi-channel online video network focused on supporting online video content celebrities. 

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