Lightspeed, China Growth Co-lead $50M Round In Membership E-commerce Firm Black Fish – China Money Network
Chinese membership based e-commerce platform Black Fish today announced on its official WeChat account that it has raised a US$50 million series A+ round led by Lightspeed Venture Partners, China Growth Capital, Rakuten Ventures and AlphaX Partners Fund. Existing investors including Lightspeed China Partners, Morningside Venture Capital, Gobi Partners, JAFCO Asia and Nanjing Fullshare Industrial Holding Group also participated in the round. Black Fish was founded in 2017 by Chinese online travel agency Tuniu’s senior management team including its co-founder Yan Haifeng and former CFO Yang Jiahong. It hopes to create an online e-commerce operation similar to Costco.