China Deal Monitor: Fosun RZ Capital backs ffit8 and more updates

Meal replacement brand ffit8 has closed ‘millions of US dollars’ in a debut round of financing led by Chinese conglomerate Fosun International’s investment vehicle Fosun RZ Capital with the participation of two individual investors namely Jing Li and Jun Dai, Fosun RZ announced on WeChat on Monday. 

ffit8 will deploy the proceeds to further spruce up its meal replacement protein products. 

According to the Euromonitor Consulting report, the Chinese meal replacement market size is expected to reach 120 billion yuan ($17 billion) in 2022. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 27, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
SmartX Beijing29 millionB+, CVertex Ventures ChinaTianjin Venture Capital, HUA Capital, F&G VentureBig Data
Brosmed MedicalDongguan* 14 millionCHillhouse CapitalCathay Capital, China Trade in Service Innovation Investment Fund, Northern Light Venture CapitalHealthTech
ffit8Beijing* 1.4 millionDebutFosun RZ CapitalIndividual Investors (Jing Li, Jun Dai)Fitness & Wellness
Health PlusBeijing* 1.4 millionA+-Dongfang Hongtai Capital, Pins MedicalHealthTech
Guangzhou Youxin TechnologyGuangzhou* 1.4 millionA-GSR VenturesCloud Computing
Shenzhen RCD Electric Technology Shenzhen* 1.4 millionA+Jiyun New Infrastructure Fund-Electric/Hybrid Vechicles

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.