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Lightspeed part of $100m investment in Chinese short-term property rental site

19 Jun 2014

china chinese flagLightspeed China Partners, GGV Capital and Qiming Venture Partners have helped fill a $100m investment pot for Chinese vacation rental website, according to news reports in China.

China Renaissance Capital was the only new firm to invest in the Series C round, in which CDH Venture and CBC also took part.

The news was first reported by China Money Network, with the $100m figure confirmed by Tujia’s chief executive Luo Jun on his Weibo social media page.

Tujia raised $64m early in 2013 through a Series B financing round led by GGV Capital.

Proceeds from this latest round are slated for sales and marketing, as well as finding new properties to be listed for rental.

As a result of the investments, the investors are the majority shareholder in Beijing-based Tujia, according to Chinese news reports. allows users to post listings of properties that can be hired out as vacation or business rentals. The company has more than 80,000 properties listed, mainly in its core market of China, with some overseas. is a Chinese version of the US vacation home rental website, which is backed by TPG and was rumoured to be valued at $10bn earlier this year.

Silicon Valley early-stage investor Lightspeed Venture Partners launched its second China fund earlier this month after closing its debut fund on $168m last year.

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