Apax Digital, the tech entrepreneur-focused branch of London-based Apax Partners, has led a $60m funding round into China's SoYoung.
The business, an online marketplace for aesthetic medical treatments, allows customers to research cosmetic procedures as well as the doctors and clinics, and directly book appointments.
Founded in 2013 in Beijing, SoYoung has expanded rapidly over the past few years due to an increasingly wealthy middle class in the country and a growing cultural acceptance of cosmetic surgery. With the new funding, it wants to expand its geographic footprint and improve its native app and website.
"We have been very impressed with the strong value that SoYoung brings to both consumers and clinics, and with the company's world-class traffic growth, engagement, and monetisation model," said Marcelo Gigliani, managing partner of the Apax Digital team.
This latest series D funding round follows a $50m round just last year, which was led by tech company Tencent.
Apax, which has also previously backed the UK vehicle online marketplace Auto Trader, invested around $400m in China last year. Apax Digital recently raised $1bn for its latest fund and made its first investment in Moda Operandi, a luxury e-commerce business.