Media Coverage

China:Fosun Closes $450m Round in Parenting Portal Babytree

November 18, 2016: China-based international conglomerate and investment firm Fosun Group has completed the planned $450 million funding round in Babytree Inc, a domestic pregnancy and parenting online portal and e-commerce platform. TAL Education Group, Matrix Partners, Chenshan Capital, China Merchants Wealth, and other investors also participated in the round, the China Money Network reported. Fosun has become Babytree’s strategic partner with the goal to create a comprehensive family well-being service platform that covers healthcare, insurance, and education.

  As an investor in the healthcare sector, Fosun is expected to create ample synergy opportunities with Babytree. Besides its core insurance assets, Fosun backs the operator of United Family hospitals, which operates high-end maternity care hospitals in China. It also has ownership in dental care, home decoration, and education firms.

  Launched in 2007, Babytree was backed by Matrix Partners China in 2008 with $10 million venture funding. In 2014, Babytree earned $23.5 million in the sale of its undisclosed minority shares to Chinese after-school tutoring services firm TAL Education Group. Then in July 2015, Babytree secured a a convertible loan and a revolving credit facility of up to RMB1.55 billion with Chinese beauty products e-commerce firm Jumei International Holding Ltd.