Bubble Tea Chain Naixue Raises New Funds at $2 Billion Value
- Shenzhen-based firm has raised more than $100 million
- PAG led the funding round with Yunfeng Capital co-investing
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The owner of bubble tea chain Nayuki, also known as Naixue’s Tea in Chinese, has completed a new funding round that values the company at nearly $2 billion, according to people familiar with the matter.
Shenzhen Pindao Restaurant Management Co. has raised more than $100 million in a series C funding round led by private equity firm PAG, said the people, who asked not to be identified as the information is private. Billionaire Jack Ma’s Yunfeng Capital is also among the investors in the latest round, the people said.