PE-backed UrWork, 5Lmeet get $116m from Beijing Xingpai
Chinese PE-backed co-working space operators UrWork and 5Lmeet – both of which were founded by Daqing Mao, formerly a real estate executive at China Vanke – have raised a total of RMB800 million ($116 million) from conglomerate Beijing Xingpai Group.
Each company has received RMB400 million from Beijing Xingpai, whose business operations include sports, real estate, education, entertainment and financial investments. Following the investment, three...
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