China-focused investment firm IDG Capital Partners has sold its stake in Tongxiang Wuzhen Tourism Development, a travel agency based in Zhejiang province, to the investee’s parent company China CYTS Tours Holding for US$67.5 million. Following the transaction, CYTS Tours, which acquired stakes controlled by IDG vehicles Hao Tian Capital I and Hao Tian Capital II, increased its holding in Tongxiang Wuzhen to 66 percent. IDG acquired a 16 percent stake in Tongxiang Wuzhen in 2009 for US$6.5 million, implying a return of 10.4x its original investment.