Funding round
Ant Group Series B
Ant Group, which works in software product development in Hangzhou, raised $4.50B in a Series B round announced on 26 Apr 2016, led by China Investment Corporation and China Construction Bank, at a $60.00B post-money valuation. 9 firms took part. It is Ant Group's second venture round on record; the one before was a Series A in Jul 2015.
$4.50B
Amount raised
$60.00B
Post-money valuation
$55.50B pre-money
9
Investors
2 leads
1.3x
Step-up from the Series A
$47.50B in Jul 2015
7.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ant Group at $60.00B after the new money, 1.3 times the $47.50B of its Series A (Jul 2015). The $4.50B bought investors about 7.5% of the company. It came 9 months after Ant Group's Series A. It is 24% of the $18.50B Ant Group has raised in the venture rounds on record. Ant Group raised again 26 months later: a Series C round of $14.00B in Jun 2018, at $150.00B post-money.
Ant Group's funding rounds
Ant Group has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
China Investment Corporation and China Construction Bank led the round with 7 other firms.
Lead investors
- backs 2 venture-backed companies new investor
- China Construction Bank new investor
Also in the round
- backs 26 venture-backed companies new investor
- backs 20 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- CCB Trust new investor
- China Life new investor
- China Post Group new investor
- backs 3 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and acquisitions.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
248 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 300 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Apr 2016 | $27M | not disclosed | General Catalyst and Spark Capital |
| Tech Companies | 14 Apr 2016 | $25M | not disclosed | Idinvest Partners |
| Tech Companies | 20 Apr 2016 | $15M | not disclosed | Blackbird |
| Tech Companies | 27 Apr 2016 | $12M | not disclosed | Sistema Asia Capital |
| Tech Companies | 11 Apr 2016 | $10M | not disclosed | Detroit Venture Partners and Stage 1 Ventures |
| Tech Companies | 1 Apr 2016 | $8.5M | not disclosed | Romar Partners |
| Tech Companies | 1 Apr 2016 | $2.5M | not disclosed | not named |
| Tech Companies | 17 Mar 2016 | $36M | not disclosed | Partech |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Ant Group raise in its Series B round?
Ant Group raised $4.50B in its Series B round, announced in Apr 2016.
Who led Ant Group's Series B round?
China Investment Corporation and China Construction Bank led it, with CDIB Capital, Primavera Capital Group, China Construction Bank International, CCB Trust and China Life and 2 more.
What was Ant Group's valuation at the Series B round?
$60.00B post-money ($55.50B pre-money).
How does it compare with other Series B rounds in Tech Companies?
248 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 300 times the median.
Did Ant Group raise again after this round?
Yes: a Series C round in Jun 2018 of $14.00B at $150.00B post-money.