Didi Kuaidi in record-breaking $2b capital raise

The Chinese taxi hailing app company and Uber rival's capital raise is the world’s largest-ever by a single private company and could yet get bigger.

Didi Kuaidi said on Wednesday that it raised $2 billion in the largest single fund-raising ever by a private company, outpacing even Facebook's capital raise before it was listed.

The injection of capital in the Chinese taxi hailing app company and up-and-coming Uber rival was led by new investors Capital International Private Equity Fund and Ping An Ventures, who took up the bulk of the deal, according to a source familiar with the matter. But also roped in were existing stakeholders Alibaba, Tencent, Temasek, and Coatue Management.

More than 10 investors participated in the private placement, a well-balanced mix of long-only institutional investors and hedge funds. Geographically,...
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