China’s BeauCare Clinics secures $29m Series B

The Beijing-headquartered company was founded in 2012 and its clinics perform cosmetic procedures including facelifts, eyelid reshaping, and nose reconstructions. It operates more than 30 clinics in 10 Chinese cities, and has also branched out to San Francisco, Geneva, Vancouver, Seoul, Hong Kong, and Taiwan.

Last year, the BeauCare secured a Series A round worth RMB7.5 million from China Equity, and a joint venture fund launched by China’s Founder H Fund and Korea Investment Partners. Following the latest round, the company wants to increase the size of its China network to more than 50 clinics this year.

“Medical beauty services is one of the fastest-growing segments of the healthcare industry in China,” said Yan Fan, a managing partner of GP Capital’s healthcare fund. “There aren’t many private clinic chains in China like BeauCare Clinics, with an innovative business model, a strong brand, and capabilities to scale.”

GP Capital was founded in 2009 by state-backed Shanghai International Group, Jiangsu Shagang Group, Huatai Securities and Hengdian Group. Its healthcare fund was launched in 2015 with a corpus of RMB687 million. The fund targets pharmaceuticals, mobile healthcare, medical services, and medical devices sectors. 

Earlier this month, PhiSkin, a China-based beauty clinic chain backed by H&Q Asia Pacific, raised a $18 million funding round led by Legend Capital. 

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• Topics
• Greater China
• Healthcare
• Consumer
• Early-stage
• China
• Consumer
• GP Capital