Soft drinks brand Genki Forest has secured an undisclosed strategic investment that brings its valuation to $6 billion, per a company statement on Friday.
The new round was co-led by new investors Warburg Pincus and American-French PE firm L Catterton, as well as return backer Sequoia Capital China.
Singapore’s state investment giant Temasek also invested in the latest round along with existing backers like Gaorong Capital and Longfor Capital. TMT-focused venture capital firm Gaorong Capital has made two investments in Genki in 2019 and 2020 respectively, the company said.
With the fresh financing, Genki aims to focus on product innovation and overseas market expansion.
Set up in 2017 in Beijing, Genki Forest has a sugar-free and low-calorie product line.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on April 08 – 09, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|CloudMinds||Shanghai||153 million||-||Shanghai Chengtou Group, Guosheng Group||-||Robotics & Drones|
|Suzhou Abogen Biosciences||Suzhou||92 million||B||PICC Capital, SDIC Venture Capital, YF Capital||LYFE Capital, Highlight Capital||Biotech|
|Changsha Intelligent Driving Institute||Changsha||46 million||B||Xinding Capital||Legend Star, BV Ventures, Chuanghe Huimao Investment, Unifortune, Hunan Xing Xiang Investment Holding, Wolong||Autonomous Driving|
|SNEFE||Shanghai||* 15 million||A||-||Crescent Point||Beauty & Hygiene|
|Mabgeek||Shanghai||15 million||A+||-||Dynamic Capital, Zhangjiang Haoheng Investment,Tianhui Capital, Shifeng Xinhui Investment, Sensegain Asset Management||N/A|
|wawaeg.com||Yichun||15 million||Angel, Pre-A, A||Pre-A: Unity Ventures; A: Panda Capital||Angel: Matrix Partners China, K2VC; Pre-A: Matrix Partners China, K2VC;||E-commerce|
|Rockingzoo||Hangzhou||* 10 million||A, A+||A: Crystal Stream; A+: Sinovation Ventures||A: Source Code Capital; A+: K2VC, Source Code Capital, Crystal Stream||Beauty & Hygiene|
|Yunyou Freight||Beijing||* 10 million||B||Tencent, Eastern Bell Capital||BlueRun Ventures||AI and Machine Learning|
|Kikitrade||Hong Kong||8 million||Pre-A||Dragonfly Capital, Cherubic Ventures, Animoca Brands||Ethereum Co-founder Joseph Lubin and his new fund in stealth, Vulpes, Super Chain Capital, Artesian, Head&Shoulders X, SNZ||Fintech|
|Novamab||Shanghai||* 1.5 million||A+||Huatai Zijin Investment, Hongyun Fund||Tao Capital||N/A|
|Evergrand||Yantai||* 1.5 million||A||-||Plum Ventures||Internet of Things|
|Genki Forest||Beijing||-||Strategic Investment||Sequoia Capital China, L Catterton, Warburg Pincus||Temasek, Gaorong Capital, Longfor Capital||N/A|
|mlogcn.com||Wuhan||-||Equity Investment||Xiran Capital||-||AI and Machine Learning|
|Aqrose Technology||Beijing||-||B+||Vision Knight Capital||Xiang He Capital||AI and Machine Learning|
∗ 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 ($1.5 million)” in the given example.