Shanghai ANE Logistics Valuation, Funding & Investors

Shanghai ANE Logistics is valued at $1.2B as of January 2016.

Last Shanghai ANE Logistics valuation

$1.2B

Series E · Jan 2016

Last Shanghai ANE Logistics funding round

$300M

Undisclosed stage · Feb 2021

Cumulative funding Shanghai ANE Logistics raised

$970M

across 5 funding rounds

Key investors in Shanghai ANE Logistics

Shanghai ANE Logistics Overview

About Shanghai ANE Logistics

Shanghai-based Shanghai ANE Logistics specializes in less-than-truckload shipping via a franchise model that pioneered the approach in China's logistics sector. The company manages self-operated sorting centers, contracted line-haul trucks, and around 5,000 franchised pickup-and-delivery stores forming a national network. Its operations support efficient nationwide distribution, accessible through http://www.ane56.com.


Founded

2010

HQ

ChinaChongqing

Website

ane56.com

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$1.2B (Jan 2016)

Shanghai ANE Logistics Valuation

Shanghai ANE Logistics is currently valued at $1.2B, based on its Series E in January 2016.

The $150M round was led by CDH Investments.

Shanghai ANE Logistics valuation by funding round

Shanghai ANE Logistics valuation by funding round
DateStageValuation
Jan 2016Series E$1.2B

Shanghai ANE Logistics Funding History

Shanghai ANE Logistics has raised a total of $970M across 5 funding rounds.

Shanghai ANE Logistics' first fundraising round was a $50M Series C in July 2014. The most recent completed round was a $300M undisclosed-stage round in February 2021.

Shanghai ANE Logistics funding rounds

Shanghai ANE Logistics funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2021Undisclosed stageCPE (lead); NWS Holdings; Greater Bay Area Homeland Development Fund; Huagai Capital; Goldman Sachs Growth Equity$300M-Shanghai ANE Logistics, founded in 2010 in Shanghai, operates a tech-driven hub-and-spoke model in China's less-than-truckload (LTL) freight transportation market, managing 140 transshipment centers, over 26,000 partner outlets covering 96% of townships, more than 4,000 daily vans, and peak daily truckload over 50,000 tons. Operations span 13 provinces, over 6,000 counties, and 30,000 towns. In February 2021, it secured approximately US$300 million in pre-IPO financing led by CPE, with participation from Great Bay Area Fund (Greater Bay Area Homeland Development Fund), NWS Holdings, Huagai Capital (Liumai Capital in some reports), and others, marking the third large-scale deal in China's LTL space amid investor focus on market leaders like ANE, SF Freight, and Yimidida. The company claimed to be China's only profitable LTL operator at the time, generating annual net income of several hundred million RMB, prioritizing profit over scale with higher full-load rates and cost advantages. ANE Logistics went public via IPO on November 11, 2021, raising a total of $982.5M across rounds including the 2021 financing, achieving a market cap of 7.88B at stock price 6.85 post-IPO. Investors included Harvest Investments, CPE, Greater Bay Area Homeland Investments, Huagai Capital, NWS Holdings, and at least 10 others. Later developments include ANE Hong Kong acquiring additional equity in 2024, reaching 98.95% holding, and 2025 market cap of $1.26B USD with 1.16B shares.
Jan 2020Undisclosed stageCenturium Capital (lead)$300M-Shanghai ANE Logistics (ANE), headquartered in Shanghai, is China's leading less-than-truckload (LTL) trucking logistics company, operating a franchise model with over 20,000 depots covering 96% of towns and townships as of December 2019. It provides road transportation and delivery services, focusing on LTL shipments, with daily volumes near 40,000 tons at year-end 2019. ANE has raised significant prior funding from investors like Sequoia Capital, CDH Investments, Carlyle Group, and Goldman Sachs, totaling over $370M before this round, bringing cumulative funding to over $670M. In January 2020, Centurium Capital completed an investment of over US$300 million as the sole investor and lead in ANE's Series F round, announced January 21, 2020. The funds are earmarked for technology investments and operations to strengthen market leadership amid industry consolidation. ANE Chairman Yongjun Wang highlighted goals of reaching 100,000 tons average daily cargo volume and a market value over RMB100 billion ($14 billion) within five years. Centurium Partner Michael Chen praised ANE's innovative franchise model and technology-driven approach serving millions of vendors. ANE has since pursued further financings, including another ~$300M round in February 2021 led by CPE, and in 2025 faced a privatization at $1.84B by a Centurium-led consortium including Temasek, though delisting details post-date the queried round.
Jan 2016Series ECDH Investments (lead)$150M$1.2BShanghai ANE Logistics is a leading less-than-truckload (LTL) logistics provider in China, specializing in small freight shipments such as e-commerce parcels, operating a national network with self-operated sorting centers, contracted trucks, and over 20,000 franchised stores covering 96% of townships. Founded in 2010, the company raised $150 million in its Series E round on January 1, 2016, led by CDH Investments, following a $170 million Series D led by Carlyle Group with Goldman Sachs, and earlier investments from Warburg Pincus and Sequoia Capital China. The post-money valuation for this round was reported as $1.2 billion. The 2016 funding supported ANE's expansion in China's rapidly growing logistics market, driven by e-commerce and infrastructure improvements, with the overall market valued at CNY 230 trillion in 2016. ANE positioned itself as a market leader in LTL by leveraging a franchise model, IT systems for efficiency, and targeting manufacturing, distribution, and e-commerce clients, achieving daily freight volumes of around 40,000 tons by late 2015. Post-2016, ANE continued raising capital, including a $300 million Series F in 2020 from Centurium Capital, bringing total funding over $670 million, and later rounds like $180 million in 2021. The company aimed for over 100,000 tons daily volume and a valuation exceeding RMB 100 billion, eventually pursuing a Hong Kong IPO in 2021 while logging $1.1 billion revenue in 2020 amid net losses. ANE differentiated through high full-load rates, cost advantages, and profitability claims, becoming China's top LTL player by shipment volume.
Jun 2015Series DCarlyle Group (lead); China Renaissance; Goldman Sachs; Huaxing Growth Capital$170M-Shanghai ANE Logistics (ANE), founded in 2010 and headquartered in Shanghai, operates as a Less Than Truckload (LTL) haulage company using a franchise model across China, providing road transportation and delivery services for cargos between 15 kg and three tons, supported by a network of 5,000 franchisees nationwide. The company targets growth in China's logistics sector driven by e-commerce expansion from players like Alibaba and JD.com, as traditional retailers lack strong delivery networks. In late June 2015, Carlyle Group announced a lead investment of approximately $120 million in ANE Logistics, with the transaction expected to close in Q3 2015, sourced from Carlyle Asia Partners IV. Co-investors included Goldman Sachs, China Renaissance, and Huaxing Growth Capital, betting on consolidation opportunities in China's LTL industry amid economic restructuring. Proceeds were intended to enhance infrastructure, expand national network coverage, and scale operations, leveraging Carlyle's franchise expertise and China track record. ANE's chairman Wang Yongjun highlighted the partnership's potential to elevate the business. Carlyle had invested about $5.9 billion in China as of March 2015. The investment reflects broader U.S. private equity interest in Chinese logistics, exemplified by RRJ Capital's $250 million in China Logistics Property Holding.
Jul 2014Series CWarburg Pincus (lead)$50M-On 3 July 2014, Warburg Pincus invested US$50 million in China ANE Logistics (Asia), as reported by the Asian Venture Capital Journal. The investment represented a growth funding round for the logistics company.

Who has invested in Shanghai ANE Logistics?

12 investors have backed Shanghai ANE Logistics across its funding rounds, including Goldman Sachs, Warburg Pincus, Carlyle Group, CDH Investments, Goldman Sachs Growth Equity and Huagai Capital.

Lead investors include CPE, Centurium Capital, CDH Investments, Carlyle Group and Warburg Pincus.


Shanghai ANE Logistics Investors

Investors in Shanghai ANE Logistics by funding rounds participated
InvestorHQRoundsRoleFirst check
NWS HoldingsHong KongHong Kong1ParticipantFeb 2021
Greater Bay Area Homeland Development FundHong KongHong Kong1ParticipantFeb 2021
CPEChinaBeijing1LeadFeb 2021
China RenaissanceChinaBeijing1ParticipantJun 2015
Goldman SachsUnited StatesNew York City, NY1ParticipantJun 2015
Carlyle GroupUnited StatesWashington, DC1LeadJun 2015
Centurium CapitalChinaBeijing1LeadJan 2020
Huaxing Growth CapitalChinaBeijing1ParticipantJun 2015
Huagai CapitalChinaBeijing1ParticipantFeb 2021
Warburg PincusUnited StatesNew York City, NY1LeadJul 2014

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Shanghai ANE Logistics Competitors

Shanghai ANE Logistics competitors include listed companies like Dazhong Transportation, Prosegur Cash, Marten Transport and Shanghai Foreign Services, and private ones like Yunniao Delivery and Veho.

Public and private companies comparable to Shanghai ANE Logistics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Dazhong TransportationChinaChinaPublicly listed$332M$132M$1.2B-
Prosegur CashSpainSpainPublicly listed$2.3B$389M$1.1B0.8x
Marten TransportUnited StatesUnited StatesPublicly listed$884M$130M$1.1B1.1x
Yunniao DeliveryChinaBeijingPrivate--$1B-
Shanghai Foreign ServicesChinaChinaPublicly listed$3.6B$149M$1.4B0.1x
VehoUnited StatesBoulder, COPrivate$327M-$1.5B-

Shanghai ANE Logistics Public Comps

Shanghai ANE Logistics is still privately-owned, but its public comps include Blue Dart Express, Dazhong Transportation, Grindrod, Freightways Group, Prosegur Cash, Marten Transport, SBS Holdings, KLN Logistics Group, Irish Continental Group and Hangzhou SF Intra-City.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Blue Dart Express$640M$98M1.9x1.8x12.6x16.1x
Dazhong Transportation$332M$132M4.8x-12.2x-
Grindrod$336M$192M3.3x2.8x5.8x11.1x
Freightways Group$841M$160M2.0x1.9x10.3x9.9x
Prosegur Cash$2.3B$389M0.8x0.8x4.8x4.4x
Marten Transport$884M$130M1.1x1.1x7.7x7.6x
SBS Holdings$3.2B$226M0.6x0.5x8.5x7.2x
KLN Logistics Group$7.2B$561M0.3x-4.2x-

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Common questions about Shanghai ANE Logistics

When was Shanghai ANE Logistics founded?Shanghai ANE Logistics was founded in 2010.
Where is Shanghai ANE Logistics headquartered?Shanghai ANE Logistics is headquartered in Chongqing, China.
Is Shanghai ANE Logistics publicly listed?No, Shanghai ANE Logistics is a private, VC-backed company.
What is Shanghai ANE Logistics' valuation?Shanghai ANE Logistics was last valued at $1.2B in its Series E in January 2016.
How much funding has Shanghai ANE Logistics raised?Shanghai ANE Logistics has raised $970M across 5 funding rounds.
What was Shanghai ANE Logistics' last funding round?Shanghai ANE Logistics' last funding round was a $300M undisclosed-stage round in February 2021, led by CPE.
Who are Shanghai ANE Logistics' investors?Shanghai ANE Logistics' investors include NWS Holdings, Greater Bay Area Homeland Development Fund, CPE, China Renaissance, Goldman Sachs, Carlyle Group, Centurium Capital, Huaxing Growth Capital, Huagai Capital, Warburg Pincus and 2 others.
Which companies are comparable to Shanghai ANE Logistics?Companies comparable to Shanghai ANE Logistics include Dazhong Transportation, Prosegur Cash, Marten Transport, Yunniao Delivery, Shanghai Foreign Services and Veho.

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