Baihe Is Creating New Fund To Invest In Wedding Space

Baihe is looking to create an investment fund with a Chinese private equity firm to invest in wedding services to help expand its market reach.

The Chinese dating leader is working with JD Capital for the new fund, and comes after Baihe closed its merger with fellow market leader Jiayuan last year.

The May deal saw Jiayuan merge with Baihe subsidiaries LoveWorld and FutureWorld, becoming a wholly-owned subsidiary of Baihe.

And now Baihe is looking to invest in services and businesses in the wedding space to further shore up its considerable market share.

The move comes after it announced a huge $246m funding round and switched to free user messaging in 2015.

Last December, Baihe also partnered with Chinese AI company Turing Robot to create a “relationship prediction robot” to help singles nuture their relationships.

Beijing-based JD Capital is a private equity, venture and fixed income investment firm that manages around $4.4bn, according to China Money Network.

The firm has branches in 60 countries in China, Europe and North America, and was named “Best PE Group in China” in 2011, 2012 and 2015.

Read more about the Jiayuan merger here.