Rumor: Tencent Leads USD 400 Mln Series A Investment in Leshi Mobile

NetEase, 5/29/15

An institutional investor has revealed that Beijing-based handset developer and manufacturer Leshi Mobile Intelligent Technology has secured USD 400 mln in series A funding led by Chinese internet and mobile services firm Tencent (0700.HK). The transaction values Leshi Mobile at USD 4 bln.

The source added that because of the large numbers of investors interested, Leshi has raised the investment requirements. The smaller institutions who initially intended to invest have already been squeezed out.

Editor's Note: For more background on this topic, please see "Rumor: Leshi Mobile to Complete USD 300 Mln Series A Funding" MD 5/15/15 issue.

Keywords: handset funding wireless Tencent 0700.HK Leshi Mobile first-round M&A handset vendor VC

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