Global technology-focused investor Silver Lake and China-focused private equity and venture capital firms CDH Investments, Yunfeng Capital and Primavera Capital Group have led a US$1.1 billion round for Koubei, Alibaba Group Holding’s China-based e-commerce services platform. Sovereign wealth fund China Investment Corporation also invested approximately US$150 million in the round. Koubei provides online-to-offline services including marketing, payments and booking to businesses in China. The company plans to expand its services by allowing merchants to have online stores on its platform.