Backed by PE funds, LvYue raises over $100m in the recent funding round.

Hotel group LvYue raised more than $100m in the recent funding round Series A and A+ led by Tencent, Sequoia Capital, Baidu Capital and Goldman Sachs. The round also saw the participation of Ocean Link, Citic Trust, Oriza Holdings, and Caissa Travel. Exact financial terms were not disclosed. The funding raised will help the company spruce up its innovations and ramp up its self-dependent e-platforms besides building its brand marketing and accelerating its expansion in India and beyond. "Goldman Sachs has a positive outlook for both China and global travel destination markets and will support LvYue to further expand its business throughout China and abroad," Stephanie Hui, Goldman Sachs Managing Director and Co-head of Principal Investment Area.