Legend Capital led a $100m round for social commerce platform Tongcheng Life that also featured existing backer Bertelsmann Asia Investments.
Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, has led a $100m series B round for China-based community buying platform developer Tongcheng Life, Tencent News Yixian has reported.
Bertelsmann Asia Investments (BAI), a corporate venturing vehicle for media group Bertelsmann, also participated in the round, as did venture capital funds Engage Capital and ZhenFund.
Founded in 2018, Tongcheng Life operates a family goods-focused e-commerce platform, providing products such as fresh foods and ingredients along with general household…
