HONG KONG—Investors eager to catch a ride with Chinese ride-hailing startup Didi Kuaidi Joint Co. helped the company raise $2 billion in a matter of weeks, the largest-ever fundraising for a Chinese technology startup.
The funding round, officially launched two weeks ago, values China’s chief competitor to Uber Technologies Inc. at roughly $15 billion, according to people familiar with the situation.
The fundraising is the largest for a venture-backed private company in China, surpassing the $1.6 billion raised by Chinese e-commerce giant Alibaba Group Holding Ltd. in 2011 and the more than $1 billion raised by smartphone maker Xiaomi Corp. in December.
It drew several new investors including Capital International Private Equity Funds, Ping An Ventures, and others, Didi Kuaidi said in a statement confirming a Tuesday report in The Wall Street Journal. Capital International, the private-equity arm of Los Angeles-based money manager Capital Group Cos., invested around $350 million as a large investor, according to people familiar with the situation.
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