Investment funds tied to the municipal government of Chengdu, the capital of Sichuan province, have invested RMB 600 mln as part of the recent RMB 1 bln funding round in handset and mobile OS developer Chuizi Technology (Smartisan), according to comments made by a Smartisan investor to Chinese media organization Caixin.
The investor said that the RMB 600 mln funding is split equally into equity investment and debt financing. The investor also revealed that the RMB 1 bln funding also includes RMB 300-400 mln in funding from unnamed private equity funds.
Smartisan's valuation this round was slightly lower than that in its RMB 300 mln funding round in 2015, said the investor. Currently, Smartisan's main goals are to secure liquidity, release products, and maintain smooth operations.
Editor's Note: For more information on this topic, please see "Handset and Mobile OS Developer Chuizi Secures RMB 1 Bln Funding," MD 8/07/17 issue