Vangoo Capital Leads Series C Financing for Chinese Luxury Goods Seller (Asia)
Source: Greater China Private Equity Review | Author: Polly Cheung
Japan-based private equity firm Vangoo Capital Partners led a Series C round investment for more than US$30 million in Secoo.com, a China-based luxury goods retailer. Existing shareholders IDG Capital Partners, a China-focused investment firm, and Ventech Capital, a venture investor, also participated in the round. Secoo.com, which sells secondhand branded-items online and at outlets in Beijing, Shanghai and Chengdu, intends to use the financing to open another flagship store in Beijing. The company previously raised a US$30 million Series B round in May 2012 and a US$10 million Series A round in July 2011.