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PAG Asia Capital Leads US$100 Million Series C Round for Mychebao (Asia)

PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has led a US$100 million Series C round for China-based online used-car auction platform Mychebao. The company, also known as Chezhibao, will use the funds to provide financial, logistics, cloud technology and car evaluation services to user-car retailers. Concurrently, the company also announced the completion of the acquisition of China-based high-end used-car trading platform Youyiche, which will operate under the Mychebao brand.