DCM Ventures, a global VC firm with offices in Silicon Valley, China and Japan, has taken a stake in Chinese crowdfunding platform Duocaitou, according to a report in ChinaMoneyNetwork. DCM led the $10 million Series A round in the platform that focuses on real estate investing, specifically hotel and apartment projects.
Hurst Lin, co-founder of DCM China and former COO of SINA, was quoted on the investment;
“Duocaitou provides a platform for Chinese hotel operators and co-working space companies to connect directly with investors, which can enhance fundraising efficiency and reduce costs. At the same time, Duocaitou offers financial services products that allow individuals to enjoy attractive returns from real estate projects.”
The same report says that Duocaitou has funded projects in 375 locations across Asia, the US and Australia having facilitated approximately USD $75 million for real estate projects.
The new funding will be used for “high end hotels” and more apartments, co-working spaces and other commercial real estate.
DCM is pretty interesting too with approximately $3 billion under management. DCM was an investor in Zenbanx before it was acquired by SoFi – another one of their portfolio firms.