Corporates Tencent and China Life are among a range of investors participating in the round, which will fund the newly independent JD Logistics.
JD Logistics, the logistics spinoff of China-based e-commerce firm JD.com, agreed funding today from investors including internet group Tencent and insurer China Life for a round expected to close at about $2.5bn.
The round also includes Hillhouse Capital, Sequoia China, China Merchants Group, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International as well as undisclosed additional participants.
JD Logistics was formed by its parent company in April 2017 out of a logistics operation it had already…
