Warburg Pincus, Legend Capital and CAR to Invest US$550 Million in UCAR Group (Asia)

Source: CAR

Global private equity firm Warburg Pincus, Legend Holdings' independent venture capital unit Legend Capital and China-based auto car rental company CAR are participating in a US$550 million Series B funding round for UCAR Group, a China-based mobile taxi booking service provider. Warburg Pincus, Legend Capital and CAR are existing shareholders of the company. CAR will invest US$50 million, while Warburg and Legend will contribute the remaining US$500 million.