Centurium Capital Releases Carbon Neutral Strategy and Roadmap
April 22, 2022, Beijing – Centurium Capital (“Centurium), a leading private equity investment firm in China, today announced its carbon neutral goals and roadmap, underscoring the firm’s commitment to achieve carbon net zero at the firm level by 2025 and at the portfolio level by 2050. In addition, the firm also committed to reducing its employee’s per capita carbon emission by 25% by 2030. Climate change is a common challenge faced by mankind today and its impact has become more visible in the past century. According to The Special Report on Global Warming of 1.5ºC by IPCC (Intergovernmental Panel on Climate Change), limiting global warming to 1.5ºC would require rapid, far-reaching, and unprecedented changes in all aspects of society. In response, the Chinese government has committed to reach carbon peak by 2030 and achieve net zero by 2060. Centurium’s carbon neutral goals are a testament to its support for sustainable growth. In the past few months, Centurium has worked with a carbon neutral specialist consulting firm to complete its carbon emission assessment for 2021. The firm will continue to track its carbon footprint annually. At the portfolio company level, the firm will strengthen its training efforts to support its portfolio...
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Centurium Capital Becomes Signatory of United Nations-supported Principles For Responsible Investment
Beijing, February 11, 2022 – Centurium Capital, a leading private equity investment firm in China, today announced that it has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI), demonstrating the firm’s continuous commitment to environmental, social and governance (ESG) issues and initiatives. Launched in 2006 by the former UN Secretary-General, Kofi Annan, the PRI has become the world’s leading proponent of responsible investment. It works to support an international network of investor signatories in understanding the implications of ESG factors and integrating these factors into their investment practices and ownership policies. Luo Nan, head of the PRI China, extended a warm welcome to Centurium Capital. "In signing up to PRI, Centurium Capital shows commitment to practicing responsible investment. It is an important step in its continued ESG practice. The development of responsible investment is now growing rapidly and we look forward to more investors joining the journey,” she said. David Li, Chairman and CEO of Centurium Capital, commented, “We are excited to join the leading international network to help promote the awareness and adoption of ESG best practices in China. ESG forms an integral part of our value-creation and ‘invest to transform’ investment approach, and we...
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Consortium Led by Centurium Capital Acquires Stake in Luckin Coffee Through Secondary Purchase
January 27, 2022, Beijing – Centurium Capital, a leading private equity investment firm in China, announced today that it has led a consortium to complete a transaction to purchase an aggregate of 383,425,748 Class A ordinary shares of Luckin Coffee (the “Company”) from certain sellers (the “Secondary Sale”). Other consortium members include IDG Capital and Ares SSG Capital Management. The sellers are affiliates of and were formerly controlled by certain former management members of the Company and their families, and were ordered to be wound up and are currently in liquidation pursuant to an order of the Grand Court of the Cayman Islands and pursuant to orders of the Eastern Caribbean Supreme Court in the High Court of Justice of the British Virgin Islands (the “BVI Court”). The joint liquidators appointed in respect of the sellers have exercised their statutory powers to enter into definitive documents to give effect to the Secondary Sale. On January 17, 2022, the BVI Court sanctioned transactions that form part of the Secondary Sale, as required by the securities purchase agreement that gave effect to the Secondary Sale. The Board of Directors and joint provisional liquidators of Luckin Coffee have determined the Secondary Sale to...
202201-27 -
China Biologic Privatization Transaction Led by Centurium Capital Wins AVCJ “Deal of the Year – Large Cap”
November 16, 2021, Hong Kong – The Centurium Capital-led privatization of leading plasma-based biopharmaceutical company China Biologic Products Holdings Inc. (“China Biologic” or the “Company”) was awarded “Deal of the Year – Large Cap” by Asia Venture Capital Journal (AVCJ) at its annual award ceremony on November 15 in Hong Kong. A buyer consortium led by Centurium Capital first announced its indicative proposal to privatize the Nasdaq-listed China Biologic (Nasdaq: CBPO) on September 18, 2019. On November 19, 2020, the two sides had reached an agreement for the consortium to purchase the outstanding shares not already owned by the consortium members at US$120 per share, implying a valuation of US$4.76 billion for the Company. The consortium members also included CITIC Capital, Hillhouse Capital, Temasek and the management team. The privatization transaction was closed on April 20, 2021. Zhixing Chen, Managing Director of Centurium Capital, commented, “It was a long journey for us to close the China Biologic transaction, which is one of the largest privatization deals in China’s healthcare space in recent years. I want to take this opportunity to thank our investors, our team and friends who supported us along the way. Going forward, we will continue to work...
202111-17 -
Centurium Capital Invests US$100 Million in Leading Chinese SaaS-based Group Catering Technology Company Meican
November 10, 2021, Beijing, China – Meican (the “Company”), a leading Chinese SaaS-based group catering technology company, announced today that it has completed E-round financing of US$100 million invested by Centurium Capital, a leading private equity investment management firm in China. The financing is expected to enhance Meican’s capabilities and investments in product research and development, global customer acquisition, supply chain diversification, and human resources development. Founded in 2011, Meican is China’s largest group catering solutions provider. The Company offers comprehensive catering solutions to corporate clients and their employees, including both on-premise and off-premise catering and SaaS solutions. It also offers SaaS solutions to traditional group dining players, including digital ordering, integrated payment processing, catering operation, corporate fee control, as well as reporting & analytics. The Company’s clients include Bytedance, Alibaba, SF Express, China CITIC Bank, Pacific Insurance, SASAC, Peking University People’s Hospital and China Southwest Aviation University, and numerous others. Through its SaaS technology and innovative solutions, Meican has transformed and modernized the traditional group catering industry. Statistics show that the group catering market in China exceeded RMB1.5 trillion in 2020, serving 670 million customers while growing at over 15 percent annually. However, the Chinese group catering industry is...
202111-10 -
Chinese Online Training Platform Yunxuetang Closes $190 Million Series E at a $1 billion Valuation
March 30, 2021, Beijing – Yunxuetang (YXT), a China-based online corporate training services provider, has recently completed two series E rounds, E1+E2, within three months of each other, totaling $190 million. Venture capital firm Matrix Partners China led the series E2 tranche with additional contributions from Sequoia Capital China and Hundreds Capital. The E1 round was closed in January 2021 and led by Tencent. Prior to this round, Yunxuetang received multiple rounds of financing from top-tier private equity managers such as Centurium Capital, YF Capital, SIG, Ximalaya, and Everest VC. After the completion the series E financing, Yunxuetang become a unicorn and best-funded corporate training service provider in the industry. This round of financing will be used for AI technology and software product innovation, data center and IT center construction, content development and customer experience enhancement. Corporate training has grown year over year, but it gained stronger growth momentum in 2020 due the COVID-19 outbreak. The pandemic resulted in an urgent need for digital transformation, and companies quickly shifted from offline training to online. As the largest and most comprehensive corporate training technology company in China, Yunxuetang has led the way in providing business digitalization solutions. Yunxuetang, founded in 2011,...
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