CMC Capital led a $124m Series E funding round in Hefu Noodle.

CMC Capital, a public equity and venture capital firm, led a $124m Series E funding round in Hefu Noodle, a Chinese noodle restaurant chain operator. The round had participation from investors Zhongwei Capital, Tencent Investment and Longfor Capital. “China’s catering market has great development potential given its massive market scale, yet a low penetration rate of restaurant chains. With the continued increase of shopping malls, improvement of supply chain infrastructures, and enhancement of digital store operations in China, we believe the external conditions for nurturing new-generation catering chain giants have matured," Alex Chen, CMC Capital CIO.