TPG, Carlyle lead over $1.9b round in Baidu's newly spun-off finance arm

TPG, Carlyle lead over $1.9b round in Baidu's newly spun-off finance arm

Photographer: Bloomberg

Baidu Inc. has raised more than $1.9 billion for its newly spun-off financial services division from TPG, Carlyle Group and other investors, creating one of China’s best-funded fintech companies.

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