Toutoushidao, Huasheng Lead $14M Round In Gym Operator Lefit

Toutoushidao Capital, a Chinese investment fund co-established by a partner from Matrix Partners China, has teamed up with Huasheng Capital to lead a RMB100 million (US$14 million) series B funding round in Lefit, a Hangzhou-based new concept fitness start-up.

Existing investor IDG Capital, as well as new investors Puhua Capital and others also participated.

"We are optimistic about the future of Lefit and its business model, which is a perfect match for China's rising middle-class," said Wu Xiaopo, co-founder of Toutoushidao and a well-known financial writer in China.

Lefit, established in 2015, offers members flexible access to around 130 fitness gyms and 3,200 exercise instructors in five major cities for a RMB99 monthly fee.

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