Manus parent Butterfly Effect raises more than $500 million in new funding round
In short
Butterfly Effect (蝴蝶效应), the parent company of Manus, has completed a new funding round of more than $500 million, Chinese business and tech outlets reported on October 8. Boyu Capital (博裕投资) and IDG Capital led the round, and existing shareholders Tencent, Sequoia China (红杉中国) and ZhenFund (真格基金) also invested again.
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Butterfly Effect (蝴蝶效应), the parent company of Manus, has completed a new funding round of more than $500 million, according to reports by 36Kr, Jiemian and Yicai on October 8. Jiemian reported that the company announced the round that day and said it had been completed recently; 36Kr said it had learned of the deal. [ 1 , 2 , 3 ]
According to 36Kr and Jiemian, Boyu Capital (博裕投资) and IDG Capital led the round. Existing shareholders Tencent, Sequoia China (红杉中国) and ZhenFund (真格基金) also invested again. The reports did not give a valuation, the exact amount beyond "more than $500 million", or how the funds will be used. [ 1 , 2 ]
Why it matters
Three tier-one Chinese business and tech outlets covered the round on the same day. Existing shareholders Tencent, Sequoia China and ZhenFund took part again alongside the two lead investors, though the documents give no valuation or planned use of the money.
Key facts
- Manus completed a new funding round of more than $500 million. [ 1 , 2 , 3 ]
- The round was raised by Manus's parent company, Butterfly Effect (蝴蝶效应). [ 1 , 2 ]
- Boyu Capital (博裕投资) and IDG Capital led the round. [ 1 , 2 ]
- Existing shareholders Tencent, Sequoia China (红杉中国) and ZhenFund (真格基金) invested again. [ 1 , 2 ]
- Butterfly Effect announced the round on October 8, saying it had been completed recently, Jiemian reported. [ 2 ]
- 36Kr said it had learned of the funding round. [ 1 ]
Confirmed by several sources
Still unclear
- The exact date the round closed. The outlets say only that it was completed recently.
- The company's valuation and the planned use of the funds. None of the documents gives a valuation or says how the money will be used.
- The exact amount raised. The documents say only that it was more than $500 million.