SAIF Partners leads $38m round for Chinese video site Aipai
SAIF Partners has led a $38 million Series C round of funding for Chinese video-sharing platform Aipai, with participation from Matrix Partners.
Clients use Aipai's editing software - known as Paidashi - to edit video and upload clips to the platform. The videos are mainly focused on online game-play and entertainment such as karaoke.
Founded in 2009, the site has more than 10 million daily active users and 50 million monthly users. It previously raised capital from CMHJ Partners in addition to Matrix.
The company will use the proceeds to develop mobile gaming marketing services, according to local media.
Established in 2001, SAIF manages over $3.6 billion in assets. Its areas of focus include information, technology internet, mobile, consumer services, healthcare, cleantech, education and financial services.
Last month, the venture capital firm led a $15 million Series B round for Supersonic, a mobile app monetization firm based in San Francisco.
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