A state-affiliated fund has invested in robotics firm ROKAE, while Shenzhen-listed Jingce Electronic Group has bought a stake in Yangtze Memory Labs. Also, Tian Tu Capital has set up a food industry-dedicated fund with Ziyan Foods.
Robotics firm ROKAE secures $69m in strategic round
ROKAE, which specialises in the R&D of collaborative and industrial robots, has notched 500 million yuan ($69.1 million) in a strategic investment round.
The round was participated by the National Manufacturing Transformation and Upgrading Fund, a state-affiliated investment vehicle that targets strategic investment of growth- and maturity-stage firms across sectors like new materials, new generation information technology, and power equipment, among others, according to a release on Sunday.
A fund managed by Sinye Capital, a Jinan-registered firm that manages state fund-of-funds (FoFs), buyout funds, and cross-border investments, also joined, per the release.
Founded in 2015, the Beijing-headquartered firm previously sealed a 400-million-yuan ($62.8 million) strategic investment round in February 2022 led by China’s major animal feed maker and hog breeder New Hope Group.
Jingce Electronic Group buys stake in Yangtze Memory Labs
Shenzhen-listed inspection system maker Wuhan Jingce Electronic Group said the firm will inject 500 million yuan ($69.1 million) into Yangtze Memory Labs, a firm that provides advanced semiconductor packaging and verification services.
Post-financing, Jingce Electronic Group will hold a 43.38% stake in Yangtze Memory Labs, according to an exchange filing dated March 25.
Founded in 2021, the Wuhan-based firm will use the proceeds to finance its advanced packaging project that aims to fill the existing gap facing the industry.
Tian Tu Capital, Ziyan Foods set up food industry-dedicated fund
Chinese consumer sector-focused private equity firm Tian Tu Capital teams up with Shanghai-listed cooked food maker and distributor Ziyan Foods to set up a new equity investment fund targeting the food industry.
The fund size will be no more than 300 million yuan ($41.5 million), according to a company announcement published via WeChat on Sunday. The fund targets to invest in up-and-coming food brands in China.
Founded in April 2002, the Hong Kong-listed Tian Tu Capital moved from profits to losses in 2023. It recorded a net investment loss of 813.7 million yuan ($112.5 million) in 2023, down from gains of 377.2 million yuan ($52.1 million) in 2022, according to the firm’s stock filings.
The firm’s total assets under management amounted to 24.4 billion yuan ($3.4 billion), as of December 31, 2023. Some of its portfolio companies include Chinese social e-commerce app Xiaohongshu and Hong Kong-listed bubble tea chain Nayuki.