Turkish e-commerce firm Trendyol, backed by Chinese internet giant Alibaba, said on Monday it had entered into agreements to raise $1.5bn from a number of high-profile investors, valuing the company at $16.5bn.
The round was co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth funds, ADQ (UAE) and the Qatar Investment Authority, the company said in a statement.
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General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65bn in assets under management.
Source: Yahoo Finance
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