On June 10, Qi Cai, Mayor of Hangzhou City, announced on June 10 that the Hangzhou Government Venture Capital Guidance Fund invested RMB6M in Intohotel.com. This is the first deal for the Fund.

This Fund is mainly operated by Hangzhou Tonghui Venture Capital Co. (Hangzhou Tonghui) and two other companies. This deal is jointly invested by Hangzhou Tonghui and Xiacheng District Venture Capital Company. This guidance fund is reportedly not profit-driven, but to guide other VC funds to back innovative early-stage enterprises located in e-information, bio/healthcare, and knowledge-based sectors.

Dong Lin, Board Chairman of Intohotel.com said the site provides travel services including travel management and travel credit for firms, non-profit entities and governments. Currently, it provides hotel & air ticket booking services for enterprises.