Capital Today makes follow-up investment in Chinese portal(2)

Capital Today has injected $5 million in a follow up investment into www.360buy.com, bringing its total investment in the Chinese shopping site to $10 million.

Capital Today, a Shanghai-based private equity firm, has invested a second tranche of $5 million (€3.7 million) into www.360buy.com a Chinese shopping site that offers mobile phones, digital products, computer and accessories and home appliances for sale. The latest commitment brings Capital Today’s total investment in the site to $10 million, according to Kathy Xu, managing partner and founder of the Capital Today.

Established last year with $280 million, the China-focused growth capital provider has so far completed nine transactions, Xu told PEO.

China is perceived to be a challenging market to complete deals. Regulatory uncertainties frustrate foreign firms while independent local groups appear to have an easier time accessing deals. Most investments go unreported as firms prefer to stay quiet about their activities.

Last month, Capital Today invested $20 million to become the single largest investor in Rongqing Logistics, Xu said. She declined to disclose the stake it bought in the refrigerated trucking business with operations in Shanghai and Shandong.