Filed in archive
Venture Capital
by Greg Cruey 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.
© sweethappychick1985
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.
© sweethappychick1985
Permalink: DCITS Raises $73 Million
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/133334
Addthis
Ask
Blinklist
del.icio.us
Digg
Fark
Facebook
Google
Lycos
Ma.gnolia
Mr Wong
Netscape
Netvousz
Newsvine
Reddit
StumbleUpon
Slashdot
Tailrank
Technorati
Wink
Yahoo
Vote for DCITS Raises $73 Million:
|
Rating: 9.00 out of 1 vote(s) cast.
|
Subscribe
Use the search to look for other interesting posts
| RSS |  See all blog subscribe options |
 What is RSS? | |
| Yahoo! |
|
| Addthis |
|
| Bloglines |
|
| Newsletter | |
| Follow us on Twitter! |
