Goldman Sachs-led consortium injects another $70 million in PRC rent-a-car business
Goldman Sachs Group has reportedly led a consortium of growth-capital investors to inject $70 million in eHi Car Rental Co., a Shanghai-based car rental chain operator which recently raised around RMB1 billion ($147 million) from investor groups, including local private equity firm Legend Capital and venture capital firm Kleiner Perkins Caufield & Byers.
With many Chinese citizens migrating from the countryside, seeking a more convenient lifestyle with cars, the company’s business has grown to over 120 rental outlets in 34 cities since its formation...
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