IFC considers $30m investment in Alibaba-backed Best Logistics

Visual of Best Logistics Technologies portal. January 2016

The International Finance Corporation (IFC) is considering a capital injection of up to $30 million in Best Logistics Technologies (BLT), a Chinese logistics business that is a partly-owned associate firm of the Alibaba Group – as part of a $700 million pre-IPO funding round.

Founded in 2007 by Johnny Chou, formerly co-president of Google China, the Hangzhou-based company’s operates as a logistics supply chain services provider and enabler.

Core business operations include providing express, less-than-truckload (LTL) freight and supply chain management services focused on the e-commerce sector. Additionally, Best Logistics offers financing to supply chain vendors, cross-border logistics and last-mile services to improve the efficiency of logistics services.

According to an IFC release, the new investment will fund corporate expansion and acquisitions, in order to achieve the appropriate scale for a planned initial public offering (IPO).

The Asian Venture Capital Journal (AVCJ) has noted that BLT received an investment from Walden International and CDH Investments in 2010. Other investors in the firm are the Alibaba Group through Alibaba Capital Partners, the Hina Group, Walden International, Foxconn Technologies, China Renaissance Capital Investments, IDG Capital Partners and Goldman Sachs.

There is increasing interest in China’s logistics sector  amongst investors, with private capital being infused into various firms originating from sovereign wealth funds, pension funds and private equity funds; warehousing providers and third-party logistics firms are popular targets.

Also Read: Alibaba to invest S$187.1m in SingPost, to raise stake to 14.51%

SingPost is first logistics partner of Alibaba Merchant Delivery Scheme

IFC to provide $25m funding for Myanmar’s largest retail group City Mart

 

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. 
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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.