Alibaba, Tencent, Vanke join $1.5b round for CMC unit
CMC Inc, a company set up by Chinese media-focused private equity firm CMC Capital Partners to hold assets beyond a 10-year horizon, has raised RMB10 billion ($1.5 billion) in Series A funding.
The round – which gives CMC Inc. a post-money valuation of RMB40 billion – was led by Alibaba Group, Tencent Holdings, and China Vanke. Additional contributions came from financial investors such as...
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