Jack Ma Fund Invests $20M in Rent the Runway

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

Blue Pool Capital, an asset management firm established by Alibaba founders Jack Ma and Joe Tsai, invested $20 million in Rent the Runway, Recode reports, citing a note from research firm Lagniappe Labs. According to the report, the funding values Rent the Runway at just shy of $800 million. The fashion rental and subscription company previously closed a $60 million Series E funding round in December 2016, led by Fidelity Management and Research Company, with existing investors Technology Crossover Ventures, Bain Capital Ventures, Highland Capital Partners and Advance Publications also participating. Read more at Retail Dive