Source Code Capital a venture capital firm from China, has led a $320 million Series C round in Edianzu, a Beijing-based online computer and IT product rental startup, the China Money Network reported.
Other investors who contributed to the latest round include existing investors Shunwei Capital, Matrix Partners China, Aplus Capital and a fund affiliated with Lakala, a Beijing-based payment firm backed by Legend Holdings.
The latest investment is said to have valued Edianzu at $200 million. Prior to this round, Edianzu has completed five financing rounds worth RMB500 million ($79 million).
This includes a RMB70 million ($10 million) pre-Series B round raised in January 2017 led by Lakala and contributed by Matrix Partners China and Shunwei Capital.
The round was followed by a $18-million Series B raised in late 2017 led by Matrix Partners China, Aplus Capital, Shunwei Capital, Lakala.
Edianzu provides leasing of office equipment including laptops, desktops, projectors, and printers to small and medium-sized enterprises with operations in large cities like Beijing, Shanghai, Shenzhen, Guangzhou.
The firm, in early 2017, attempted a reverse merger with Tibet Tourism but failed due to tightening regulations.
Beijing-base Source Code capital has assets under management of $750 million and its investor base include sovereign wealth funds, foundations and Chinese central government’s guidance funds.