CMC Capital Partners, a Chinese investment firm founded by the former president of Shanghai Media Group Li Ruigang, announced on Wednesday that it has invested over RMB100 million (US$14.47 million) in a series B round of financing in Neobio Family Park, a parent-child activity center operator in China.
Founded in 2015, Neobio develops and operates 4000 to 8000 square meters’ indoor entertainment and leisure parks, targeting middle-class families in first- and second-tier cities in China. The company mainly serves families with children aged between one to 10, providing them with indoor places for entertainment, relaxation, dining, and education.
Neobio currently operates two indoor parks in Shanghai and Hangzhou, and plans to open three new parks in Nanjing and Shanghai.
The Shanghai-based company raised tens of millions of yuan in a series A round from Chinese private equity firm Tangzhu Capital and investment firm Broad Resources in December 2018.
CMC Capital Partners, founded in 2010, focuses on investing in the media, film, entertainment, and sports sectors worldwide. The firm operates two USD-denominated funds and two RMB-denominated funds.