Warburg Pincus and Legend Capital to Participate in a Funding Round for UCAR Group (Asia)

Source: CAR

Warburg Pincus, a global private equity firm, and Legend Capital, an independent venture capital unit of China-based conglomerate Legend Holdings, are participating in a US$250 million funding round for China-based mobile taxi booking service provider UCAR Group. China-based CAR, an auto rental company and existing shareholder of UCAR, will invest US$125 million for a ten percent stake, while Warburg, Legend and investment holding company Deqing Investments will collectively contribute the remaining US$125 million.