Twitter LinkedIn
    Saturday, June 10
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Funds»Bubble Tea Chain Naixue Raises New Funds at $2 Billion Value
    Funds

    Bubble Tea Chain Naixue Raises New Funds at $2 Billion Value

    December 31, 2020Updated:December 31, 20202 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Shenzhen-based firm has raised more than $100 million. PAG led the funding round with Yunfeng Capital co-investing.

    The owner of bubble tea chain Nayuki, also known as Naixue’s Tea in Chinese, has completed a new funding round that values the company at nearly $2 billion, according to people familiar with the matter.

    Shenzhen Pindao Restaurant Management Co. has raised more than $100 million in a series C funding round led by private equity firm PAG, said the people, who asked not to be identified as the information is private. Billionaire Jack Ma’s Yunfeng Capital is also among the investors in the latest round, the people said.

    The bubble tea chain owner is considering an initial public offering in Hong Kong, after the coronavirus outbreak clouded its earlier plans for a U.S. listing, according to the people. Nayuki in February filed confidentially for an offering in the U.S., Bloomberg News previously reported.

    A representative for Shenzhen Pindao confirmed the completion of the funding round, without providing details on the amount of capital raised or the investors. The firm will spend the fresh funds on product research and supply chain digitalization, while it has no IPO plan in the near term, the representative added. Representatives for PAG and Yunfeng didn’t immediately respond to requests for comment.

    Nayuki, founded in 2015 and headquartered in Shenzhen, sells fresh-fruit tea — some with cheese foam on the top — as well as cold brew tea and baked goods. It has more than 350 stores in 51 cities in China, according to its website. The company completed a funding round in 2018 that valued the startup at 6 billion yuan ($918 million).

    Nayuki’s IPO could add to the list of potential bubble tea chain share sales in Hong Kong. Heytea, another major bubble tea chain in China, is seeking to raise $400 million to $500 million in a Hong Kong initial public offering before the end of 2021, Hong Kong Apple Daily reported in September, citing unidentified people.

    B & S International Holdings Ltd., which owns the Hong Kong franchise of Taiwanese bubble tea chain TenRen, raised $12.8 million in its Hong Kong IPO in 2018. The offering was oversubscribed by more than 2,600 times among retail investors, making it one of the hottest IPOs that year.

    Source: Bloomberg

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    funds Investments PAG
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    Carlyle targeting $1.6B for second renewables fund

    November 18, 2022

    Vista’s latest flagship fund halfway to $20B target

    November 18, 2022

    MVM closes oversubscribed Fund VI at $500m hard cap

    November 17, 2022

    Comments are closed.

    Other Articles

    Blackstone sets up India-dedicated logistics platform to push warehousing business growth

    January 28, 2022

    Airbnb and Netflix investor TCV, others invest $400 million in fantasy sports unicorn Dream11’s parent

    March 24, 2021

    Blackstone in talks to buy Emerson Electric Assets

    October 5, 2022

    Saudi Crown Prince’s $500bn Neom high-tech hub project seeks international interest

    March 8, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?