As part of the deal, Tiantu Capital’s partner Li Kanglin will join the board of Gaofuji.
Founded in 2000, Gaofuji engages in development, production and sales of Sichuan style condiment food.
Founded in 2002, Tiantu Capital has offices in Shenzhen, Beijing and Shanghai. The private equity firm manages six RMB funds and has invested in over 50 companies.
Last month, the company invested RMB50 million ($8.25 million) in Qinghai Xiaoxiniu Biological Dairy Industry Co. Ltd. It also invested RMB80 million ($13 million) in Ganshiqi Food & Beverages Ltd in last August, which is a fast-food chain based in Hangzhou.