IDG Capital makes angel investment in tea shop in Fuzhou
IDG Capital, a leading venture capital firm with special focuse on the China market, has invested RMB50 million ($7.35 million) in Fujian Impression Dahongpao Tea Co., Ltd., which operates three tea shops in the Gulou, Taijiang and Changle districts of Fuzhou province in China, with the biggest individual shop area over 400 sq m.
This investment was initiated by Li Jianguang, co-partner of IDG Capital, and was made from an angel investment fund. The new capital will help the tea shop chain to increase its number of outlets. As...
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