Sequoia Capital China has partnered with a global fund to make an undisclosed investment in Montreal-based luxury fashion platform SSENSE, per a company statement on June 9.
Following the deal, Sequoia Capital China has become a minority shareholder in SSENSE. Sequoia Capital China’s venture partner Angelica Cheung, a former editor at Vogue China editor, will join SSENSE’s board.
SSENSE, which is valued at over $4.1 billion, will use the proceeds to speed up global expansion.
SSENSE, which counts Sequoia Capital China as its first external investor, was co-founded by CEO Rami Atallah and his brothers Firas Atallah and Bassel Atallah in 2003.
“The partnership represents another solid step in our efforts in supporting the fashion industry’s digitalisation, backing visionary founders to transform and elevate the global fashion e-commerce experience to a new level,” said Sequoia Capital China founder and managing director Neil Shen in the statement.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on June 7-10, 2021.
