Company aims to build a large F&B chain platform with
leading investors
SHANGHAI, Oct. 31, 2011 /PRNewswire-Asia/ -- YPX Cayman Holdings
Co.,Ltd. (http://www.ypxfood.com/zh-cn/)
announced today the closing of its second round fundraising. The
company has secured US$20 million from leading global venture
capital firms including Qiming Ventures, Hotung Investment and
Mitsui Global Investment. They also attracted personal investments
from renowned entrepreneurs such as former DBS Bank and Singapore
Airlines Chairman Mr. Koh Boon Hwee and Nasdaq-listed 51Job.com
founders Mr. Norman Lui and Mr. Michael Feng Yunlei. With this new
fund, YPX Cayman will quickly open more stores in the Eastern and
Northern part of China; in line with its strategy of building a
large fast casual food and beverage (F&B) chain
platform.
"I feel extremely honored to be
recognized and trusted by so many well-known investment firms and
entrepreneurs. China has an enormous potential for a business like
ours and we are poised to double our growth over the next one year.
Whilst doing so, we simultaneously strive to perfect our food and
services, and endeavor to continuously improve on our management
and efficiency. Ultimately, we aim to build a multi-brand F&B
platform in China by bringing in more brands with the help from our
investors," said YPX Cayman Chief Executive Officer Chris Tay.
Mr. Hans Tung, Managing Director of
Qiming Ventures, said: "Qiming Ventures was the sole investor of
YPX Cayman's in its first round of financing. We have been
supporting the company since the day one. I am very proud of the
team's professionalism and execution skills. I strongly believe
that with a great team, a F&B platform can be just as
successful as an internet company’s platform."
Ms. Jennifer Huang, President of
Hotung Investment, which led the second round of financing, said:
“In China, Chinese-style casual F&B is a more attractive option
for consumers than western-style casual F&B. The key of
establishing a strong footprint in the market is to provide
products and services with a higher price/performance ratio as well
as standardization of production and management. YPX Cayman is
definitely working towards this direction.”
Mr. Shunsuke Masaki, Head of
Consumer Investment, Mitsui Global Investment, added: “We're glad
that YPX Cayman is striving to achieve the strategic goal of
building a casual F&B chain platform. We believe that under the
leadership of existing executives, the company will meet the goal.
Mitsui Global Investment has invested in more than 15 F&B
companies in Japan and we hope to make more brands available in
China through YPX Cayman.”
About YPX Cayman Holdings
Co.,Ltd.
Founded in Shanghai in 2010, YPX
Cayman focuses on the management of casual (F&B) chain in
China. CLOUD 9, the company’s first brand, mainly focuses on the
Taiwanese casual F&B and snacks segment. The brand now has 10
stores in Shanghai and is expected to open stores in Beijing and
markets around Shanghai by the end of this year. The company's
management team, with a combined of over 80 years of experience in
the F&B chain management, continuously improves their standard
and management level, valuing quality as their first goal. The
company aims to establish a large platform in the casual F&B
chain in China.
About Qiming
Ventures
With offices in Shanghai, Beijing
and Hong Kong as well as the Seattle, Qiming Ventures manages funds
exceeding US$1 billion and is dedicated to investing in the
high-growth promising enterprises in China. The company invested
and successfully nurtured these companies to IPO: Jiayuan,
ChinaCache and Taomee. It has investments also in category leaders
like Vancl, eHi, Xiaomi, PPS TV, Arrail and Kaixin001.
About Hotung
Investment
Hotung Investment, a venture capital
company with over 20 years of experience, focuses on investing in
the high-tech and high-growth companies in China and the US. The
company has over 140 successful exits through the initial public
offering in main capital markets. Notable investment cases in China
include Vancl, Lakala, ku6, CGEN Digital and Bitauto.
About Mitsui Global
Investment
Mitsui Global Investment, a wholly-owned subsidiary of Mitsui,
focuses on investing in high growth enterprises worldwide.
Headquartered in Tokyo, the company has set up offices in Beijing,
Shanghai, Silicon Valley and New York and has built a network
covering Japan, the US and China. With its global network and
resources, Mitsui Global Investment helps its portfolios expand in
overseas markets by providing them with strong cross-sector,
cross-border support. Mitsui Global Investment's investments in
China include iSoftStone, Prudent Energy and Ftuan.
SOURCE YPX Cayman