Epoxy resin products maker Anhui Xinyuan New Material has secured 100 million yuan ($14 million) from Addor Capital, according to a company statement on Tuesday.
Xinyuan, set up in 2004 by Hengyuan Group, is a manufacturer of epoxy reactive diluent products that are exported to the US, Europe, Japan, South Korea, and the Middle East.
It will use the funding to improve its technology, products and for expanding manufacturing capacity.
Addor Capital is an investment management firm owned by the government of Jiangsu province. It has so far managed 106.6 billion yuan ($15 billion) in assets and invested in over 800 companies as of January 2020, according to its website.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on February 25, 2020.