Legend Capital, Industrial Bank invest $70m in Chinese pet food producer Gambol

Source: Erda Estremera/Unsplash

Chinese pet food producer Gambol Pet Group has secured 500 million yuan ($70.58 million) in a Series B round of financing from Legend Capital, the venture capital arm of Chinese investment firm Legend Holdings, and Chinese commercial lender Industrial Bank.

The Series B round, which the company claims to be the largest round in China’s pet food industry in 2019, took the total capital raised by Gambol to 900 million yuan ($127.03 million), according to a statement on the WeChat official account of Taihe Capital, which served as the exclusive financial adviser for the deal.

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