US-based business research company Gerson Lehrman Group has backed China-based networking company Ushi, as part of a $3m funding round on Thursday.
Gerson Lehrman was joined in the investment by earlier backers of Ushi,Yunli Lou, a founding partner of Milestone Capital, Peter Kellner, co-founder of Endeavor, a non-profit advisory company, and Jose Cheng, a managing director of private equity firm Li & Fung, according to a spokeswoman. This second funding round by Ushi took the total raised by the company to $4.5m, accordng to news provider TechCrunch.
Gerson Lehrman is backed by US private equity firm Silver Lake, which invested $200m in the company in 2007 at a $1bn valuation.