Intel Capital eyes $10 million investment in e-commerce site OkBuy
Chinese e-commerce player OkBuy Information Technology Co. may receive $10 million from Intel Capital as part of a second-round fundraising exercise in which other investors have also been approached, according to reports.
Three-year-old OkBuy, which specializes in e-vending shoes, saw the completion of its second round of financing trail its first round by six months. Sequoia Capital invested $10 million in the first round, and this second round of investments will be used to build a distribution system, local reports add. Sources suggest that the firm may have collected $20-30 million in its overall second-round process - a sizable portion for the company that is estimated to be worth $500 million.
Intel Capital, whose VP and MD for the Manufacturing Sector Keith Larson recently spoke to AVCJ, has made inroads in China in 2010, including inking a partnership with SWF China Investment Corporation (CIC) to launch an innovation investment initiative.
More on Technology
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.