Fortune Capital Co-Leads $30M Round In Internet Cafe Chain Wanyoo

Fortune Capital, Jiangsu-based RMB fund Yicun Capital, and Mingjia Capital, founded in 2005 by Chinese movie star Huang Xiaoming, have led a RMB210 million (US$30 million) series D round in Wanyoo, a Shanghai-based Internet cafe chain.

Founded in 1998, Wanyoo provides Internet cafes, electronic sports and working areas for customers. Currently, it has 854 internet cafes in over 100 cities globally, including the U.S., Australia, and Canada.

It plans to use the latest proceed to expand its international business, with the goal of  establishing a cumulative 5,600 Internet cafes globally by 2020.

The company previously received strategic investments from Prometheus Capital, a Beijing-based private equity fund founded by the son of Chinese tycoon Wang Jianlin, online gaming platform Lianzhong, and Hangzhou Shunwang Technology Co Ltd.

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