Participated · Series E · Jul 2021

HeFu Laomian operates a nationwide chain of Chinese noodle restaurants, using a signature “Chinese study” flagship store format in premium malls. The company focuses on mid-to-high-end Chinese noodle dishes and multi-brand餐饮 (multi-brand restaurant) expansion. It has sustained revenue growth of over 50% year-over-year for several years, with average single-store revenue around ¥550,000/month, monthly sales per square meter (坪效) of ¥4,800, per-employee productivity of ¥55,000/month, and an average ticket price of ¥45. As of June 2021 the chain had more than 340 stores, opened its 100th Shanghai store in May, and was opening roughly one new store every two days, targeting about 450 stores by year-end. The company plans to use new capital to build out an industry-chain ecosystem, create new brands, expand channels, and develop digital capabilities to support multi-brand growth.

Participated · Series A · Feb 2021

Founded in 2016 by New Hope Group, Xianshenghuo Cold Chain provides end-to-end cold-chain logistics, smart logistics, supply-chain and finance services for restaurant chains, fresh retailers and food producers. The company builds city cold-chain intelligent park networks and invests in digital technology R&D to integrate industry resources. It operates more than 70 branches, serves over 2,500 customers, and its flexible fulfillment network covers 31 provinces and nearly 700 cities with over 300,000 delivery points. Xianshenghuo emphasizes both software and hardware investment to strengthen warehousing, transport capacity and technological capabilities. The business has positioned itself as a leading food-ingredient circulation player in China and aims to deepen investment in cold-chain infrastructure and digitalization to expand service capacity. Xianshenghuo operates a tech-enabled logistics, warehousing, and distribution network that delivers fresh produce from farmers to enterprise customers including food processors, retailers, and catering companies. It runs a closed-loop management system covering the entire supply chain, enabling clients to order and pay for produce online while using automatic scheduling, demand forecasting, and other tools to improve efficiency. The platform also offers upstream services to farmer suppliers such as system and vehicle support, tax optimization, and financial management. As of the end of 2020 the company had a fleet of 45,000 cold chain-enabled delivery vehicles (own and third-party), 50,000 drivers, and over 120,000 square meters of cold storage, serving around 500 million shoppers in large and medium-sized Chinese cities. Xianshenghuo was launched in 2016 as a spin-out of New Hope Group and is based in Chengdu. Its Series A close comes amid a major growth spurt in China’s e-grocery and cold chain logistics sector.