Mega funding round from China! Private markets seem to remain hot in China!
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Chinese Internet giant Tencent Holdings Ltd.’s online banking affiliate WeBank is close to raising fresh funds from investors including U.S. private-equity firm Warburg Pincus in a deal that values the year-old venture at more than $5 billion, people familiar with the matter said. WeBank, which is 30% owned by Tencent, is raising more than $450 million in the round led by Warburg Pincus as well as Singapore’s state-owned investment firm Temasek Holdings Pte. Ltd., the people said.
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