Infinity invests in Pesticide maker in China
Infinity Group, a China-and-Israel-focused private equity firm, will invest RMB120 million ($18 million) in the Shijiazhuang Xingbai Pharmaceutical Company, a maker of pesticides, for an undisclosed stake size.
According to Infinity, four of Infinity’s funds - the SJZ fund, I-China fund, Changzhou fund and the Tianjin fund - have participated in this investment. The capital injection comes ahead of Shijiazhuang Xingbai’s planned IPO in the A-share market, slated three years from now.
Established in 2004, Hebei-based Shijiazhuang Xingbai Pharmaceutical Company manufactures biological pesticides such as the original drug Abamectin, Avermectin and avermectin derivatives. Bella Ohana, MD of life science at Infinity, said in a statement that company is a leader in the bio-pesticides market, which is growing at a CAGR of 20% annually. According to the release, among the appeal of Shijiazhuang Xingbai’s products is their low toxicity, high efficiency and rapid degradation.
Amir Gal-Or, Managing Partner and Founder of Infinity, added, “Infinity will leverage its connections with the various modern bio-agricultural entities in Israel and use its IP Bank platform to upgrade Shijiazhuang Xingbai’s technology and promote its brand worldwide.”
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