Morrison & Foerster is representing SoftBank Vision Fund in connection with an investment totaling US$1.5 billion in Chehaoduo, a leading Chinese customer-to-customer auto retail services company that operates Guazi, an e-commerce platform focusing on second-hand car transactions, and Maodou, an e-commerce platform focusing on new car transactions.
Chehaoduo uses big data analysis and artificial intelligence to assist users to compare prices, secure auto financing and access after-market services.
Hong Kong partner and co-head of the firm’s Asia Private Equity Practice Marcia Ellis and of counsel Catherine Liu are leading the MoFo team on this matter, with key support provided by associates Olivia Tang and Euzane Lee and trainee solicitor Wyatt Zhang. Other key team members include Hong Kong tax partner Matthew Lau, technology partner Gordon Milner, and associate Alex Cao.
For more information, see the related press release here.