WeWork has raised $430m from Chinese investors in a fundraising that values the office space start-up at $16bn and will help it expand into Asia.
Hony Capital and Legend Holdings, both Beijing-based investment groups, led the Series F round. The new financing was “strategic”, said a person close to the deal, in that Hony and Legend will help with its launch in China, which is planned within the next several months.
“Not only does WeWork have one of the largest addressable markets I have ever seen, but the quality of its execution and fit for the Chinese culture is unparalleled,” said John Zhao, chief executive of Hony Capital.
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