A star-studded consortium involving Softbank, Alphabet, and Tencent is set to invest $1.9 billion in truck-hailing platform Manbang Group, marking the Chinese logistics sector's second billion-dollar private fundraising in three months.
The joint investment, announced on Tuesday, follows JD Logistics’ $2.5 billion capital-raising in February, which is China's largest private funding deal so far this year. This is also Chinese logistics industry's largest private funding deal to date,...