- Mar 15, 2021
- Business Update
JD Property Obtains US$700 Million Series A Financing
by Tou Guan
On Mar. 10, 2021, JD Property entered into agreements for the non-redeemable series A preferred share financing with co-lead investors Hillhouse Capital and Warburg Pincus as well as other investors. The total amount expected to be raised is approximately US$700 million. Upon completion of the transaction, JD.com will remain the majority shareholder of JD Property which will be another unicorn incubated by JD.
JD Property is a subsidiary of JD.com which focuses on infrastructure asset management and comprehensive property services. It provides integrated solutions for modernized high standard warehousing, intelligent industrial parks, IDCs (intelligent data centers), and more for partners from various industries.
Its strategy is committed to serving the digital intelligent social supply chain, by investing, developing and managing logistics infrastructures, manufacturing parks, data centers, scientific innovation offices across China, including 29 core regions. Extensive geographical reach and remarkable product development capability enable JD Property to facilitate the development of the real economy by constructing advanced manufacturing, medical, urban services, commercial and digital technology facilities.
JD Property has formed a business loop of infrastructure development, asset management and capital operation. Its end-to-end integrated suite has enabled endogenous growth with high turnover rate, return and efficiency. For example, supported by its industrial park projects, JD Property is enabling enterprises through the opening up of its industrial services in quality selected locations. Meanwhile, JD Property also leverages a broad range of funds and investment vehicles with world-leading capital partners, contributing to a fund platform with AUM (asset under management) of over RMB 19 billion yuan.
The overseas market has become a new area of growth for JD Property. Deeply collaborating with local partners, it is developing logistics and industrial infrastructure in Southeast Asia and Europe, to help Chinese clients and local enterprises expanding their businesses.
By leveraging Warburg Pincus and Hillhouse Capital’s industry expertise and resources, JD Property will further strengthen its infrastructure property management capabilities and its position as a leading player in high-quality infrastructure properties development and operations.