Asian private equity firm SAIF Partners has invested $15 million in Yayi International, a goat milk products company.
SAIF Partners could not be reached for comment.
Based in China, Yayi produces and distributes goat milk formula products across the country. The company’s range of products includes goat milk tablets and goat milk drinks. It has a distribution network of about 3,600 retail points.
The capital will be used to boost the Yayi’s production capacity and develop its sales and marketing efforts, the company said in a statement.
Goats: SAIF's latest venture
The investment was made out of SAIF Partners III, a fund primarily focused on China, which closed on $1.1 billion in 2007. The fund allocates up to 80 percent of its capital to Greater China and the remaining to India and Korea.
Presently, SAIF Partners has more than $2.2 billion under management. The firm broadly focuses on investments in growth sectors such as consumer products and services, TMT, financial services, healthcare, travel and tourism and manufacturing. It invests across China, India, Hong Kong and Taiwan.
Its previous investments in China include online game development and operation company Perfect World, interactive entertainment media company Shanda and media company Joymedia.
In December 2008, SAIF reportedly joined a number of non-state backed Chinese private equity firms such as CDH investments and Hony Capital to raise RMB funds. The firm raised RMB1.6 billion ($234 million; €167 million) for its maiden yuan-denominated fund, sources told Reuters at the time.