Euro-Asia private equity firm A CAPITAL has invested US$6.81 million in Paris-headquartered VIADEO SA, hoping to help expand and strengthen its market position in China and other emerging markets, according to a company announcement.
As part of the deal, A Capital has joined VIADEO’s board.
VIADEO is the number one professional social network in France with 9 million registered users. It ranks as number two globally with 60 million users, says the announcement.
VIADEO acquired a Chinese firm called Tianji in 2007, and it currently has 20 million members in China. It adds 500,000 new users every month.
"We…look forward supporting (VIADEO’s) growth in emerging markets and particularly in China, the largest digital market in the world, with more than 140 million connected professionals," says André Loesekrug-Pietri, founder and managing partner of A Capital.
In March, A Capital launched a new fund called A Capital Technology Fund, hoping to raise up to €1 billion ($1.38 billion).