Alibaba and Jeneration Capital led a $450m Series C3 funding round in Nice Tuan.

Alibaba, a provider of online and mobile commerce businesses, and Jeneration Capital, a private equity firm, led a $450m Series C3 funding round in Nice Tuan, a farm produce platform. Other investors include CDH Investments, CICC, Cygnus Equity, GGV Capital, INCE Capital, Joy Capital, KunLun Fund, and Qiming Venture Partners. “The community group-buying business model continues to iterate and evolve, and the entry of tech giants is bringing unprecedented competition to this segment. We firmly believe that in such a rapidly changing market, Nice Tuan will be the ultimate winner thanks to its management team’s strategic vision, organizational abilities, strong execution, and determination," Jin Tao, Cygnus Equity Managing Director.