Returning investors have doubled down on the company, as China’s new infrastructure industry continues to thrive
China’s e-commerce giant JD.com announced on March 28 that its infrastructure property asset management arm JD Property (Chinese: 京东产发) had bagged around USD 800 million from its Series B funding round.
Existing shareholders Warburg Pincus and Hillhouse Capital jointly led the round, while the name of another lead investor was not disclosed. The company also roped in new investors like Hina PE, per a company statement. JD.com remains the principal shareholder of JD Property.
The proceeds raised will be used to support its market expansion and enhance its infrastructure property management capabilities, JD Property said.
The subsidiary of JD.com focuses on infrastructure asset management and comprehensive property services, aiming to provide integrated solutions like modernized high standard warehousing, intelligent industrial parks, and intelligent data centers (IDCs) for clients from various industries.
JD Property also seeks to tap the overseas market by expanding its logistics network. It has launched logistics storage and industrial infrastructure in Southeast Asia.
“The booming logistics industry due to the development of e-commerce fuels demands for modern storage services. JD Property takes an early move to enter the core areas of the industry with a stellar performance in rental rate and revenue, ” Chen Hong, the chairman and CEO of Hina Group, told the media.
The new infrastructure sector has been attracting investment in recent months. DNE Group (Chinese: 东久新宜集团), an infrastructure operating solutions provider, garnered USD 1.5 billion in December 2021 in its Series B financing round backed by investors including Partners Group, Sequoia China and D1 Capital Partners.
Another smart warehouse management platform Hai Robotics (Chinese: 海柔创新) closed its USD 170 million Series E funding round on February 18, 2022. The investors were undisclosed. Last year, the company completed two rounds of financing for over USD 200 million, joined by Sequoia China, Source Code Capital and other backers.