China's iSoftStone Gets New Round Of Finance

Chinese business process outsourcing firm iSoftStone Holdings Limited has closed a round of undisclosed amount of financing from a collection of private equity and venture firms.

Led by Everbright Private Equity, financing was also provided by AsiaVest Partners, Fidelity Asia Ventures, Infotech Pacific Ventures, Mitsui Ventures Global Fund, and Wuxi Jinyuan Industry Investment Development Company Ltd.

While the company has not publicly stated the amount of money raised, Michael Wu, chief financial officer at iSoftStone, did state in a press release: "During the past year, in spite of severely impaired global capital markets, iSoftStone raised more than USD65 million, which includes the Everbright-led investment and capital obtained from a number of domestic Chinese commercial banks, which provides a strong capital base to support our continued growth."

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