China’s Hopu Among Investors in Xiaomi
Chinese private-equity firm Hopu Investment Management Co. is among the consortium of investors putting a total of just over $1 billion into Xiaomi Corp. in a deal valuing the smartphone maker at over $45 billion, according to a person familiar with the situation.
Hopu, run by prominent Chinese financier Fang Fenglei, is part of a group of investors led by All-Stars Investment Ltd., a fund run by former Morgan Stanley analyst Richard Ji, the person said. The investment in the Chinese technology company has made it one of the most valuable startups globally.
Other investors in the deal include Russian investment firm DST Global, Singapore sovereign-wealth fund GIC Pte. Ltd., and Yunfeng Capital, according to people familiar with the situation. Yunfeng Capital is a private-equity firm affiliated with Alibaba Group Holding Ltd. Executive Chairman Jack Ma .
The funding deal has already been signed, and it will close as soon as the money is transferred, the people said. One person said that should take place this week.
The $45 billion-plus valuation puts Xiaomi above most Silicon Valley and Asian technology startups. Earlier this month, U.S. ride-sharing service Uber Technologies Inc. said a new round of funding valued it at $41 billion.
Source: wsj – China’s Hopu Among Investors in Xiaomi
