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Warburg Pincus, KPCB to invest $100 mln in
August 17, 2011 / 7:19 AM / 6 years ago

Warburg Pincus, KPCB to invest $100 mln in

HONG KONG, Aug 17 (Reuters) - U.S. private equity firm Warburg Pincus LLC and venture capital firm Kleiner Perkins Caufield & Byers will jointly invest $100 million in China fashion shopping website operator, a source with direct knowledge of the matter told Reuters on Wednesday.

This will be the second round of funds raised by after KPCB invested $20 million in March.

The distribution of the investment is not clear.

“Warburg Pincus plans to increase its investment in the company later,” the source said. had forecast 2011 sales at 1 billion yuan ($156.7 million), up from 250 million yuan last year, the source said.

Founded in March 2008, is an e-commerce company retailing fashion brands, including Louis Vuitton, Coach and Chanel.

Shenzhen-based has buyer offices in New York, Los Angeles and Miami in the United States, and Australia, Britain, France, Hong Kong, Japan, Italy and South Korea. ($1 = 6.383 yuan) (Reporting by Huang Yuntao; Editing by Chris Lewis)

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