Baoyun Group, Country Garden Venture Capital

Baijiu liquor in Zunyi, Guizhou Province, China. Photographer: Nelson Ching/Bloomberg

Baoyun Group, a distributor of wines and whiskies in China, has raked in 600 million yuan ($94 million) in a Series A round of financing led by Country Garden Venture Capital, the investment arm of Chinese property developer Country Garden.

The funding attracted a new investor, Being Capital, while existing investors Matrix Partners China, and Dayone Capital, re-upped in the round the company said in a statement.

Baoyun Group, which was set up in May last year, has so far secured nearly 1 billion yuan ($157 million) in its rounds of financing — angel, pre-A, pre-A+, Series A. Its backers include state-backed CICC Capital, internet investment firm Crystal Stream, and Foho Investment.

With the fresh proceeds, Baoyun aims to develop its innovative pipeline products and extend its brick-and-mortar stores, as well as facilitate product lines in partnership with alcohol brands. 

With headquarters in Northern China’s Tianjin city, Baoyun runs as an integrated platform offering alcohol products, with liquors such as Wuliangye and Maotai at the core. Aside from operating as a distributor, Baoyun has also launched its proprietary brand through online and offline channels.

“We are positive toward Chinese emerging brands involved in consumption. Being a much sought-after sector, we will continue to bet on liquors,” said Country Garden Venture Capital managing director Silong Li.

Chinese investors covet the liquor sector. Fosun International was seeking to buy a 70% stake in liquor and spirits maker Sichuan Tuopai Shede Group for 4.53 billion yuan ($694 million) late last year, while Fosun’s subsidiary Shanghai Yuyuan Tourist Mart also planned to pick up a 30%% stake in Jinhui Liquor earlier in July 2020. 

Additionally, tech giant Tencent had invested an additional $80 million in online liquor retailer Yijiupi in 2019. In 2018, Tencent had joined hands with Meituan Dianping, China Everbright, and Source Code Capital ploughing $200 million funding in Yijiupi. 


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

Chinese semiconductor startup raises $100m in Pre-A round

Dutch bank to invest $50m in Bangladesh microfinance lender

Indonesia B2B commerce startup set to scoop double-digit funding

Indonesia's Halodoc closes drug delivery unit as COVID bites

Indonesian peer-to-peer lender ALAMI buys Sharia bank

Malaysia Debt Ventures and Kenanga set up $73m fintech fund

Malaysia PE firm targets $600m in first close of fifth fund

Philippine livestreaming app Kumu to raise $15m

Are Japanese startups ready for the big leagues? | Q&A with Ayumi Ode, director of Japan at 500 Startups

Grab steers into New York for world’s largest SPAC merger

KKR raises USD 15 billion for largest Asia fund

Non-metro unicorns are coming to Indonesia, Alpha JWC says

Singapore’s Accelerating Asia announces fourth cohort ahead of widened regional reach

The domestic brand that surpassed P&G and Unilever | Morning Briefing Ep 5

Zhang Yiming’s 5 principles in life | China Venture Roundup Volume 30

Realme GT smartphone with Qualcomm Snapdragon 888 SoC launched in Europe

Realme GT 5G launched with Snapdragon 888 SoC, 120Hz AMOLED display, 65W charging support

Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials

Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue

China tells e-commerce firms to regulate promotional phone messages

Thai Airways clears legal hurdles to launch rehab plan

Google and Toyota Tsusho backed- mapping startup from London set to raise £10.3M

Google’s privacy backpedal shows why it’s so hard not to be evil

People Digest: HQ Capital MD steps down; Endowus gets chief advisory officer

Facebook launches ‘Report it, Don’t share it!’ initiative to prevent online child abuse

Revolut vs Curve: Which one is best for you?

Used Gadget Specialist Aihuishou Aims for $261 Million IPO

Xiaomi’s foldable smartphone with Snapdragon 888 processor expected to launch later this year

Zebronics launches smartwatch with SpO2, blood pressure monitor and voice calling at Rs 3,999

How Apple Watch took on Fitbit, and won – but can Facebook steal the smartwatch crown?

BMW S 1000 R motorcycle launched in India at Rs 17.9 lakh

NEWS RELATED

Petronas ties up TM, Sime Darby Plantation for 2nd accelerator programme

Menara Berkembar Petronas, Kuala Lumpur, Malaysia. Photo by Vlad Shapochnikov on Unsplash Malaysia state-owned oil company Petroliam Nasional Berhad (Petronas) announced its collaboration with state-linked telecommunications firm Telekom Malaysia Bhd (TM) and plantation company Sime Darby Plantation Bhd for the second edition of its technology accelerator programme Petronas FutureTech 2.0.…

Read more: Petronas ties up TM, Sime Darby Plantation for 2nd accelerator programme

Vertex Ventures, zVentures back Southeast Asia-focused crypto exchange Coinomo

FILE PHOTO: Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration/File Photo Coinomo, the company that runs the Southeast Asia-focused cryptocurrency exchange OMO, has secured an undisclosed amount in a round of financing led by Vertex Ventures…

Read more: Vertex Ventures, zVentures back Southeast Asia-focused crypto exchange Coinomo

Singapore real estate major CapitaLand sets up $37.8m innovation fund

Singapore-based real estate major CapitaLand Ltd has set up a S$50 million ($37.8 million) fund to spur sustainability-focused innovation in the built environment space. The CapitaLand Innovation Fund will invest the capital over five years. “The CapitaLand Innovation Fund will enable us to catalyse more innovations, accelerate our global sustainability…

Read more: Singapore real estate major CapitaLand sets up $37.8m innovation fund

Corporates join institutional VCs in trying to fix Malaysian startups’ funding constraints

Kuala Lumpur, Malaysia. Photo by Kah Hay Chee on Unsplash For a few years now, large corporates in Malaysia, like their counterparts elsewhere in Southeast Asia, have been sensing the potential benefits of investing in external startups.

Read more: Corporates join institutional VCs in trying to fix Malaysian startups’ funding constraints

Singapore accounting software startup Osome raises $16m Series A round

Osome’s founding team: Anton Roslov, Victor Lysenko and Konstantin Lange. Osome, a Singapore-based startup that helps in digitalising accounting and compliance services for SMEs, has raised $16 million in a Series A funding round to fuel its international expansion. Investors who joined the funding round include European investment manager Target…

Read more: Singapore accounting software startup Osome raises $16m Series A round

S Korean investor STIC beefs up venture deals in Vietnam, backs Coolmate

Nguyen Hue, Vietnam. Photo: Peter Nguyen/unsplash South Korea-based investment firm STIC Investments, which has a strong presence in Vietnam’s private equity space, is scouting for more venture deals to tap into the country’s fast-growing startup ecosystem.

Read more: S Korean investor STIC beefs up venture deals in Vietnam, backs Coolmate

Malaysia’s healthtech startup Naluri bags $5m in Series A funding

Naluri co-founder, CEO Azran Osman Rani Malaysia-based digital health service provider Naluri Hidup announced on Wednesday the closing of a $5 million Series A funding round. Besides the cornerstone investor, Singapore’s Integra Partners, other strategic investors who participated in the funding include: Duopharma Biotech Bhd, Pathology Asia (via Biomark), and…

Read more: Malaysia’s healthtech startup Naluri bags $5m in Series A funding

Singapore fintech startup BondEvalue raises $6m in Series A round

BondEvalue co-founders Rajesh Johar and Rahul Banerjee. BondEvalue, a Singapore-based fintech startup that operates a digital exchange for trading fractionalised bonds, on Wednesday announced raising $6 million in a Series A funding round led by MassMutual Ventures Southeast Asia and Citigroup. The funding round, which brings the total capital raised…

Read more: Singapore fintech startup BondEvalue raises $6m in Series A round

Indonesia-based fintech startup wagely raises $5.6m in funding

ING Labs spin-out Stemly nets $2.5m seed funding and other SE Asia deals

Temasek-backed fintech firm to acquire UK-based B2B payments platform

Malaysia’s Yinson, SG’s SMRT Ventures co-invest in autonomous vehicle startup MooVita

Indonesia’s Alodokter raises fresh funding from MDI, Samsung Ventures

SG fantasy sports startup Beryllium raises $3m and other SE Asia deals

Singapore VC Good Startup hits first close of protein fund at $25m

Singapore-based VC firm iGlobe Partners closes latest fund at $100m

OTHER NEWS