MergerLinks - A consortium of investors led a $500m round in Hey Tea.

Announced

14 Jul 2021

Completed

14 Jul 2021

A consortium of investors led a $500m round in Hey Tea.

Synopsis

A consortium of investors, including Tencent, Sequoia China, BA Capital, Hillhouse Capital, L Catterton, Sunrise Capital and Temasek, led a $500m round in Hey Tea, a tea drink chain. HeyTea, formerly known as Royal Tea until a brand overhall in 2016, was founded in Guangdong by Nie Yunchen in 2012.

Principals

target

Hey Tea

bidder

Tencent Holdings

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Market Context

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Nie Yunchen

ManagerCEO at HEY TEA

Ricky Qiu

ManagerCFO at HEY TEA

David He

InvestorFounder at BA CAPITAL

Zhang Lei

InvestorCEO at HILLHOUSE CAPITAL GROUP

J. Michael Chu

InvestorCEO at L CATTERTON

Jason Gerlach

ManagerCEO at SUNRISE CAPITAL

Ho Ching

InvestorCEO at TEMASEK HOLDINGS LIMITED

Jim Breyer

InvestorCo-Chairman at IDG CAPITAL PARTNERS

Philippe Laffont

InvestorFounder and CEO at COATUE MANAGEMENT LLC

Neil Shen

InvestorFounding Partner at HONGSHAN (FORMER SEQUOIA CAPITAL CHINA)

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