DCITS Raises $73 Million

Filed in archive Venture Capital on September 9, 2008

China IT service provider DCITS has received $73 million in venture capital funds, according to the Private Equity Help Desk.

The deal is part of a spin off of DCITS. The company was previously part of Digital China Holdings Ltd. Infinity I-China Fund and China Singapore Suzhou Industrial Park Ventures Co. together led this round of funding.

"DCITS is the largest and most prominent company in which the Infinity I-China Fund has ever invested; and, Digital China is the strongest domestic brand in China's IT industry. Its market presence within major accounts in government and industry, execution capabilities, strategy as well as an unrivaled management team, all put DC and its spin-off in a clear leadership position. Our $15M investment in DCITS makes Infinity a partner in this great company. Moreover, this deal marks a major milestone in Infinity's implementation of its core strategy, essentially investing in leading Chinese companies which can also help Israeli and other foreign companies penetrate the Chinese market. With this new investment, such IT companies now have a natural partner in China," said Avishai Silvershatz, managing partner of the Infinity I-China Fund, in a press release.


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