IDG Capital, the China-based corporate venturing unit of US publisher International Data Group, has joined a consortium investing $10m in Fclub, an online clothing retailer.
Alongside IDG in the round was Zero2IPO Ventures, the venturing unit of China-based data researcher and investment manager Zero2IPO.
Last month, Zero2IPO started raising a RMB5bn ($770m) fund of venture capital funds after hiring Darren Shen, former general manager of the Asset Operation Division at Chinese Academy of Sciences, which had invested in IDG’s funds as well as corporate venturing peers at Legend.