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US$6b taxi app merger shows rise of China's boutique investment banks

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Fan Bao, 44-year-old founder of boutique firm China Renaissance, was the sole financial adviser to both Kuaidi Dache, part-owned by Alibaba, and Didi Dache, backed by Tencent.

Hong Kong

WHEN little-known Chinese taxi-hailing app Didi Dache needed US$15 million to grow its business two years ago, a local upstart investment bank stepped in to help it raise the funds from social networking giant Tencent Holdings.

That paid off last month for Fan Bao, 44-...

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