Everbright-IDG Industrial Fund, an investment vehicle jointly established by China Everbright Ltd and IDG Capital, has led a series F round in Wish.com, a Silicon Valley-based cross-border e-commerce firm co-founded by a Chinese engineer.
No financial details were disclosed in a company announcement.
A number of international investors, including Temasek Holdings, DST Global, U.S. venture capital firms Third Point Ventures LLC and Founders Fund, also participated in the round.
Cross-border e-commerce has witnessed phenomenal growth on the back of increasingly widening economic globalization and continued technological leapfrogging.
Global cross-border business to consumer e-commerce, statistically estimated at US$308 billion in 2015, is expected to continue growing rapidly at a rate of 27%, according to Everbright.
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