Olympus leads investment in Chinese dairy farm
Olympus Capital Holdings Asia has led a $45 million-investment in Huaxia Dairy Farm, taking a significant minority stake in the asset with co-investors Mueller Milch Management and unnamed existing investors in Huaxia.
Olympus Capital has invested $30 million in the company, while Mueller Milch has pledged invested $10 million and the previous investors have committed $5 million. The new funding will be used to to finance capital expenditures and Huaxia's expansion. Launched in 2004, Huaxia, based in the Sanhe, Hebei province, claims to operate one of the largest dairy farms in China. The company currently owns more than 7,000 cows, which produces over 10 tons of milk per cow per year.
California Technology Ventures led the company's previous institutional investment round.
According to Nan Shao, executive director of Olympus Capital in Shanghai, the investment is in line with China's development policies. "Boosting domestic consumption is a key part of China's 12th Five-Year Plan and this investment offers Olympus Capital an opportunity to contribute to the rapidly-growing dairy market in China and to help meet the rising demand for premium dairy products resulting from the nation's increased purchasing power," Shao said in a statement.
Earlier this month, CMIA Capital Partners also launched its fourth growth capital fund, worth $200 million, which will primarily seek out agriculture opportunities in China. In announcing that vehicle CMIA also said that it hopes to leverage the policies outlined in the 12th Five-Year Plan to promote its investments.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.