SoftBank Vision Fund, Sequoia, Fidelity International and Permira led the $1.7bn investment in Full Truck Alliance.

SoftBank Vision Fund, Sequoia, Fidelity International and Permira led the $1.7bn investment in Full Truck Alliance, an online road logistics platform in China with the first nationwide freight information network. Other investors included Yunfeng Capital, Hillhouse, GGV, Lightspeed, All-Stars Investment, Tencent Holdings and Baillie Gifford. The startup aims to use the cash to expand into same-city deliveries, deepening a network now focused on ferrying goods between urban centers.