PE firms back Chinese Wonton restaurant chain
Qiming Ventures, Hotung Investment and Mitsui Global Investment have committed $20 million in Series B funding to YPX Cayman Holdings, which operates casual food and beverage chain Cloud 9. The company also received personal investments from the founders of NASDAQ-listed Chinese recruitment site 51Job.com and Koh Boon Hwee, former chairman of DBS Bank and Singapore Airlines.
Qiming was the sole investor in YPX's first round of financing. YPX was set up in 1997 and became the third-largest Wonton brand in Taiwan, with 70 company-owned and franchise stores throughout the island....
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