Sequoia, Fidelity Lead Reocar’s Series B Financing (Asia)

Source: Greater China Private Equity Review  |  Author: Maggie Lee

Venture capital firm Sequoia Capital China and Fidelity Growth Partners Asia, the Asia-focused private equity arm of Fidelity Investments, have invested alongside an undisclosed private investor in the Series B financing round of Chinese rental car company Reocar. Financial details of the transaction were not disclosed, but the invested capital was reported to be in excess of RMB100 million (approximately US$15.9 million).