Chinese cactus-product maker gets $1.5m

China Kangtai specifically produces food, health and energy drinks, beer, wine and liquor, extracts and powders, and animal feed from its own-grown cactuses. It controls more than 387 acres of plants and holds the rights to 18 patent products, and is seeking another 12. "In our previous raise handled by Kodiak, proceeds were used as working capital for our cigarette plant in Macau," China Kangtai CEO Jinjiang Wang said in a statement. "We plan to use the proceeds from this new raise to enhance our financial liquidity and for other corporate matters that we believe will be beneficial to our shareholders."

Kodiak was founded in October 2009 and claims $500 million under management, about half of which has been deployed. Its average investment size ranges from $2-25 million, which buys non-control equity in lower-middle market private and public businesses. It largely focuses on the biotechnology, business services, consumer, defense, manufacturing, resources, renewable energy and telecom and sectors.

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• Topics
• Greater China
• Healthcare
• China Investment & Development