US-based media company International Data Group and Germany-based media company Bertelsmann’s Asian corporate venturing unit are reported to be looking to invest morethan $30m in China-based luxury retailer Secoo.
IDG Capital Partners, a Bertelsmann corporate venturing unit and investment manager Yintai Investments were said to be nearing the investment, by news provider Dow Jones VentureWire. The deal was set to close next year and would be bigger than the B round, VentureWire reported IDG partner Jeacy Yan as saying.
Bertelsmann Asia Investments and IDG VC Partners and investment manager CreholChina have previously been linked to Secoo’s B round this year, which was reported by news provider TechNode to have raised $30m.
IDGVC Partners.invested $10m in Secoo’s A round in 2011, TechNode added.