Hopu, GIC Participate In $1B New Financing Round For Xiaomi

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Beijing-based Chinese smartphone maker Xiaomi Inc. has completed over US$1 billion new round of financing led by All-Stars Investment Ltd., an investment firm founded by former Morgan Stanley China media and Internet analyst Richard Ji, according to a person familiar with the situation.

Xiaomi could not be reached for confirmation of the news.

Chinese private equity firm, Hopu Investment Management, DST Global, Singapore sovereign wealth fund GIC, and Yunfeng Capital also participated in the round, which values the company at over US$45 billion.

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