Centurium Capital and Joy Capital to invest $250m in Luckin Coffee.

Centurium Capital and Joy Capital, the two private equity firms, agreed to invest $250m in Luckin Coffee, a China based company engaged in operation of coffee stores. Luckin Coffee plans to use the proceeds of the investment to facilitate the Company’s proposed offshore restructuring and fulfill its obligations under its recently announced settlement with the US SEC. The transactions allow the company to focus its balance sheet on the continued execution of its business plan, focused on growing the core coffee business and achieving its long-term growth targets.