Announced
IDG Capital and Citic Private Equity Funds Management lead a $1bn Series B round for MGI Tech.
Synopsis
Private equity firms IDG Capital and Citic Private Equity Funds Management agreed to lead a $1bn Series B round for MGI Tech, a major provider of Covid-19 testing equipment in China. This is the second round of large-scale financing completed by MGI after it raised over $200m in May 2019.
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