CDH Investments Backs Wacai.com and Gewara.com (Asia)
Source: Greater China Private Equity Review, Asian Venture Capital Journal | Author: Maggie Lee, Winnie Liu
International alternative asset fund manager CDH Investments has participated in a US$3 million funding round in China-based financial management application Wacai.com. The company, which recently acquired retail finance consulting firm Trust Analytics, has developed two mobile apps reportedly used by more than 40 million people to manage daily spending. Last month, the company received a Series A funding round worth more than US$10 million from venture capital firm IDG Capital Partners. In a separate deal, CDH has led a US$20 million funding round in China-based Gewara.com, an online ticket booking service for movies, concerts and other leisure activities. CDH previously invested in the company with Shanda Capital, the venture capital arm of Shanda Interactive Entertainment, two years ago.