ChinaEquity Leads $14M Round In Chinese Co-Working Space Firm Wujie Space

ChinaEquity Group, a Beijing-based alternative investment firm, has led an around RMB100 million (US$14 million) series A+ round in Wujie Space, a Beijing-based co-working space start-up.

Matrix Partners China also participated in the round, according to a company announcement.

In addition, Wujie Space said it had fully acquire Fourwork, another Beijing-based co-working space company, and launched a new product W Studio, a unit providing hundreds of professional conference room services to start-ups.

The company's biggest competitor UrWork, the largest among Chinese co-working space companies, raised a RMB400 million (US$58 million) round in January this year, from Tianhong Asset Management Co., Ltd., a fund management firm affiliated with Ant Financial, Chinese property developer Junfa Group and a number of other Chinese companies...

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