Ocean Link, the First Private Equity Firm Focused on China's Travel and Tourism Sector, Announces Strategic Partnership with Ctrip and General Atlantic

SHANGHAI and HONG KONG, Aug. 29, 2016 /PRNewswire/ -- Ocean Link, the first private equity firm focused on the fast-growing travel and tourism sector in China, today announced its strategic partnership with Ctrip, the largest online travel agency in China, and General Atlantic, a leading global growth equity firm.

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Founded in early 2016, Ocean Link deploys both RMB- and USD-denominated funds to invest strategically and selectively across the broad value chain and sub-verticals of the travel and tourism industry in China including hotels and resorts, attractions, online and offline travel agencies and operators, transportation services, and related business solutions providers.

The firm's initial investments include eLong, a leading mobile and online travel agency in China, Mind Education, a leading provider in China of educational tours and summer camps, Joint Wisdom, a full solution data analytics services provider for China's hotel industry, and Ruby Hotels, a Europe-based hotel chain leading the "lean luxury" concept with expansion plans to Asia.

As a result of the new strategic partnership, Ctrip and General Atlantic both have the right to appoint a director to the board of Ocean Link.

"The travel and tourism sector in China is at a pivotal period of growth. The industry's ongoing transition will provide Ocean Link with ample opportunities to bring capital and operational expertise to innovative companies serving the rising number of travelers in this market. Leveraging the insights and experience of Ocean Link's investment team and the support from Ctrip and General Atlantic, we will aim to identify attractive investments in the rapidly expanding travel and tourism sector," said Mr. James Liang, Co-Founder, Chairman, and Chief Executive Officer of Ctrip, who lends his industry insights after founding Ctrip in 1999, now the largest online travel agency in China providing accommodation reservation, transportation ticketing, packaged tours, and corporate travel management.

"General Atlantic is pleased to bring our global expertise and deep experience working with growth companies to our partnership with Ocean Link and its portfolio companies. By combining the team's deep local reach and extensive industry experience with General Atlantic's strong investment acumen and proven track record of success, we believe Ocean Link is well positioned to capture China's growth in this industry," said Mr. Eric Zhang, Managing Director and Head of China at General Atlantic, who offers more than 15 years of investing experience in China across numerous sectors, including travel and tourism, retail and consumer, and internet and technology. General Atlantic has been investing in China since 2000. Furthermore, the firm has partnered with several leading global companies operating in the travel and tourism sector including Airbnb, Aimbridge Hospitality, Decolar, FlixBus, IBS, Priceline, Smiles, and Uber.