Japan’s SoftBank, its Saudi-backed Vision Fund and the Singapore sovereign wealth fund Temasek are ploughing money into a WeWork subsidiary in China, lifting its value fivefold to $5bn.
The $500m investment round also drew the backing of private equity firms Trustbridge Partners and Hony Capital, according to people with knowledge of the deal.
A year ago a similar $500m funding round, led by SoftBank and Hony Capital valued the China subsidiary at $1bn.
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