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

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.