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Tencent Increases Investment in Yixin
- Client News
- May 16, 2017
Paul, Weiss represented Tencent in the Series C financing of Yixin Capital Limited (Yixin). Tencent invested in Yixin in this round of financing with other investors including Bitauto (NYSE: BITA), China Orient AMC International, and others. This round of financing involves up to RMB 4 billion (approximately US$580 million) investment into Yixin. Yixin is a subsidiary of Bitauto that provides an online platform for automotive financing. Paul, Weiss also assisted Tencent in its participation of the Series B financing of Yixin. Upon closing, expected by the end of May, Tencent will remain Yixin’s second largest shareholder.
The Paul, Weiss team included corporate partner Tong Yu.