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Legend Capital invests in Yixintang Drugstore and eBen

  • Maya Ando
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Beijing-headquartered VC firm Legend Capital reportedly aims to invest RMB150million ($22 million) in Yixintang Drugstore, the seventh-largest drugstore chain operator in China, to support its expansion in the region.

Yixintang currently operates its outlets in regions including Yunnan, Guangxi, Sichuan and Guizhou provinces, and reportedly generated revenue of RMB2 billion ($295 million) in 2009.

Separately, Legend Capital will make its second investment of RMB56 million ($8.3 million) in Beijing-based tablet PC manufacturer eBen with Tsinghua Science Park Capital. The event follows its first capital injection made in August 2009. Its investment partner in the recent deal is the VC firm founded by China's Tsinghua University, which has a focus on science and technology investments. With the capital, eBen plans to increase its number of demonstration storefronts and add staff. It recently announced the development of a tablet computer features a seven-inch TFT display, 3G and Wi-Fi connectivity.

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