Alibaba and Ant Financial's local services venture has raised funding at a reported $8bn valuation, from investors including Silver Lake, CDH Investments, iPrimavera Capital and Yunfeng Capital.
Koubei, the local services spinout of China-based e-commerce firm Alibaba, has raised $1.1bn in equity funding, Alibaba disclosed in an earnings report yesterday.
The round was co-led by private equity firm Silver Lake, alternative asset manager CDH Investments, investment firm Primavera Capital and Yunfeng Capital, the private equity and venture capital firm co-founded by Alibaba chairman Jack Ma.
Temasek and Khazanah Nasional, investment institutions owned by the governments of Singapore and Malaysia respectively, also participated, Silver Lake managing partner Ken…
