By King & Wood Mallesons
2 May 2017, acting as counsel for All-Stars Investment, King & Wood Mallesons (“KWM”) facilitated the series B round of financing for Logistics QQ Truck Alliance (“Truck Alliance”), raising more than US$270 million of new capital. This is the largest round of funding thus far amongst online long-haul logistics platform start-ups in China. International Finance Corp (“IFC”) and All-Stars Investment Ltd co-led the financing, and several new heavyweight institutions and existing investors also jumped on the bandwagon to invest new cash. Truck Alliance’s valuation now exceeds US$ 1 billion and joins the ranks of “unicorn” companies in China.