Prometheus, IDG Inject $30M In Co-Working Space Start-Up Kr Space

Another day, another venture round for a Chinese co-working space start-up. This is how hot – and potentially how dangerous – China's shared work space sector is for investors.

Prometheus Capital and IDG Capital Partners announced today that they had invested a combined RMB200 million (US$30 million) in Kr Space, a co-working space spinoff from technology media and entrepreneur service company 36Kr.

Ant Financial-backed 36Kr separated the Kr Space unit into an independent entity in January, and raised an undisclosed series A round from Gobi Partners and others.

Prometheus Capital, founded by Wang Sicong, the son of China's richest man Dalian Wanda Group's Wang Jianlin, will help Kr Space secure more property and space for expansion.

"As young people become a larger portion of the working population, new types of w...

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