Domestic Phone Maker Xiaomi Raises US$ 216 mln

(Beijing) – Xiaomi Mobile Internet Co. has raised US$ 216 million, its CEO says, adding that the upstart smartphone maker is worth US$ 4 billion.

Lei Jun also said on June 26 that his Beijing-based firm had no plans to go public in the next five years.

Lei did not say who provided the capital. However, Caixin learned that the funds came from a current stakeholder, Singapore's sovereign wealth fund, the Government of Singapore Investment Corp.; Yuri Milner, founder of the Russian investment fund Digital Sky Technologies; and Lei's friends.