China’s Zhonglu VC invests in five start-ups
A venture capital arm of Shanghai Zhonglu Group, a Chinese bicycle manufacturer, has invested a total of RMB36.4 million ($5.9 million) in five online technology start-ups. Zhonglu VC will take a 20% stake in each company.
Zhonglu VC plans to commit RMB15 million for YuanV, an online cloud service provider, valuing the company at RMB75 million, according to a filing. It will also pay RMB12 million for a minority stake in...
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