Lightspeed China Partners, a leading China-focused venture capital firm, today announced it has made a Series A investment in Tujia.com, the first online vacation rental services provider in China.
With this capital infusion, Tujia will expand its operations and service capabilities to meet increased demand in the emerging online vacation rental market in China, targeting middle to high-end travelers. The round also includes investment participation from CDH Investments as well as travel and vacation rental service providers Ctrip.com International (Nasdaq: CTRP) and HomeAway (Nasdaq: AWAY).
Lightspeed China Partners has been focused on early-stage opportunities in the consumer Internet and service related sectors. Earlier this year, the firm closed an investment in Meilele, which is the largest online retailer of self-branded furniture in China.
“Until now, China’s domestic vacation rental market has been a white space with significant supply and demand imbalance,” noted Ron Cao, managing director at Lightspeed China Partners. “Chinese consumers are increasingly looking for more options when they travel, and Tujia provides a unique offering with an online-offline model, and a focus on service and quality. The company’s world-class management team and first-mover advantage will position it well to become the dominate player in China’s emerging vacation rental space.”
About Lightspeed China Partners
Lightspeed China Partners (LCP) is a leading China-focused venture capital firm with investments in Internet, mobile, services, and information technology. With strong backgrounds in company operations and entrepreneurship, the partners of LCP are committed to helping a new generation of Chinese entrepreneurs become industry leaders, create world-class companies and have societal impact. In addition, LCP offers international value-added capabilities through its relationship with Lightspeed Venture Partners (LSVP). LSVP is a global venture capital firm headquartered in the U.S. with over $2 billion of committed capital under management.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed’s investment professionals and advisors are located in Silicon Valley, China, India, and Israel. Over the past two decades, the Lightspeed team has backed more than 150 companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Calista, Ciena, DoubleClick, eHealth, Fusion-io, Galileo Technology, Growth Networks, Informatica, Kiva Software, LivingSocial, Lucky Pai, Maker Communications, Phone.com, Playdom, Pliant, Riverbed Technology, TutorVista, Virsa Systems, Waveset, and XtremIO. For more information, visit the Lightspeed website: www.lightspeedvp.com