CITIC Capital, Tencent and Wanda Join an RMB6 Billion Financing Round for Tongcheng (Asia)

Source: Asia Private Equity Research 

A consortium that includes China-focused private equity firm CITIC Capital, Chinese investment holding company Tencent’s Tencent Collaboration Fund and China-based Dalian Group’s media and arts subsidiary Wanda Culture Industry Group has participated in an RMB6 billion (approximately US$967 million) financing round for China-based Tongcheng Network Technology. Tongcheng, also known as, is an online travel service provider in China. The financing round reportedly valued the company at more than RMB13 billion (approximately US$2 billion).