IDG Capital gets back in YCloset for $20m round

Mar 22, 2017 • Robert Lavine

The fashion rental platform has received $20m in a series B round led by Pan-Lin Asset Management that included existing investor IDG Capital.

IDG Capital, a venture capital affiliate of media firm International Data Group, has participated in a $20m series B round for China-based fashion leasing platform YCloset, China Money Network reported on Monday.

Private equity firm Pan-Lin Asset Management led the round, which included VC fund Zhen Fund and VC firm GSR Ventures.

YCloset operates an online service similar to that of US-based counterparts such as Rent the Runway, allowing paying subscribers to rent fashion items for short periods of time.…

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