Sino-Can Harvest Capital Invests $16M In Babi Food

Shanghai Babi Food, a Chinese food convenience store franchise, has completed over RMB100 million (US$16 million) new round of financing from Sino-Can Harvest Capital Co., Ltd., according to a company announcement.

Founded in 2001, Shanghai-based Babi Food specializes in selling steamed buns and currently has over 1,800 stores across China.

Established in 2006, Beijing-based Sino-Can Harvest Capital focuses on investing in China’s consumer sectors. It currently has RMB15 billion (US$1.9 billion) under management.

It has previously invested in snacks retailer ChaCheer Food Co., Ltd. and Shanghai Laiyifen Co., Ltd., as well as Chinese furniture firm Boloni Home Decor (Beijing) Co., Ltd.

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