Hedge fund Ward Ferry Management is set to invest $7.6m in the daily deals site, a week after it secured $5m from e-commerce company VIPshop.
Singapore-based daily deals service Ensogo has followed an investment by e-commerce company VIPShop with a $7.6m share issue to hedge fund Ward Ferry Management, the Australian reported today.
Ward Ferry was issued 58.8 million shares equating to a 10.6% stake in Ensogo, which is listed on the Australian Stock Exchange.
The cash injection comes a week after VIPShop invested $5m in Ensogo, taking a 12.2% stake as part of a larger strategic partnership that covers inventory, logistics, merchandising, marketing, technology…
