Tuhu.cn, a leading Chinese online auto maintenance platform, has recently completed its series E financing of USD450 million, led by Tencent, Carlyle, and Sequoia Capital. The company completed its series D investment led by Baidu and Goldman Sachs about two years ago.

According to Tuhu.cn, the proceeds from this round of investment would be used to mainly improve its users’ consumption experience and accelerate standardization and professionalism of its technological service process. Meanwhile, the company also expects to cooperate further with Tencent in such areas as smart retails and supply chain financing so as to improve service ecology for its auto maintenance clients.

In this transaction, Han Yi acted as the deal counsel for Carlyle, and assisted Carlyle with the PRC legal due diligence review and Chinese AML analysis and advice, documentation and negotiation of all transaction documents, coordination with co-investors and shareholders, and all the final closing steps.