|By PR Newswire||
|August 22, 2014 04:42 AM EDT||
SHANGHAI, Aug. 22, 2014 /PRNewswire/ -- YPX Cayman Holdings Co. ("the Company" or "YPX"), a leading quick service restaurant company headquartered in Shanghai, announced today the closing of its series D financing round of USD 25M. MAM PE Asia Fund I (Labuan) LLP, a fund managed by Maybank Private Equity Sdn Bhd ("Maybank PE"), is the lead investor in the latest financing round, with follow-on investments from existing investors such as LionRock Capital, Ignition Capital, as well as renowned individual investors such as Mr. Koh Boon Hwee, former DBS Bank and Singapore Airlines Chairman, and Mr. Peter Tan, former President of McDonalds Greater China and ex-CEO of Burger King for Asia Pacific. Series D financing proceeds will be utilized to grow YPX directly-owned stores and to expand YPX's franchising system.
"We are truly excited to have an investment from a fund seeded by Malayan Banking Berhad, or better known as Maybank. Maybank is one of South East Asia's largest banks, and the largest in Malaysia by market capitalisation. Named one of the Top 20 strongest banks in the world consecutively in 2013 & 2014 (by Bloomberg Markets Magazine July / August 2014), Maybank through its private equity arm has a very rigorous due diligence process, and we are honored to have passed their stringent test on our business and management. It is a very significant event for me and the Company to have the fund investing in us. Maybank PE brings a wealth of experience to help us grow our business," says Chris Tay, CEO and founder of YPX Cayman Holdings.
Mr. Pneh Tee Keong, CEO of Maybank PE, says, "We are very pleased with this outcome. The upside for this segment in China is enormous, given the increasing middle class population. We are also comforted by the fact that we are investing in a sound business, and backing an experienced management team to help us navigate through the intricacies of operating in this market. We are very excited to be a part of what I believe will be a successful partnership with Chris, his team and all the other shareholders."
With this fresh funding, YPX will be able to grow more stores via direct-owned operations as well as franchisees across China. The company will also allocate some proceeds for R&D to diversify its menu offering, brand awareness and information technology to support its future growth. "Serving good quality, value for money food has been the hallmark of YPX since its inception. This year, we have continued to focus on improving our food quality and safety standards; we see this as an ongoing pursuit that will continue to underpin all that we do at YPX. 2014 is also our inaugural year for franchising, and we are very committed to being a responsible franchisor. We will set up a robust system to support and train our franchisees as they are in all ways business people and want a good return on their investments," says Tay.
"In the past, franchising had an undesirable reputation in China, due to a laggard monitoring system and a mismatch of values between franchisors and franchisees. The industry was further tarnished by unethical practices by franchisors who emphasized short-term gains over creating a sustainable brand name. However things are changing, albeit slowly, and the market is maturing for the better; franchisees are more informed and educated than before. We want to be the first one to stand out as the most sought after and most responsible franchisor in China. Needless to say, this will not slow down our own corporate-owned stores. Not only will this positively add to our revenue growth, it will also provide support to our franchised stores. In addition to this, we are true believers in the use of information technology in the F&B industry, when often times IT takes a back seat in our kind of business. So we will invest heavily on IT in the coming years. The hottest potential is that China is still urbanizing rapidly and its consumer market is going to be the largest in the world in the next few years, if it isn't already," adds Tay.
YPX's first brand is Cloud9, a Taiwanese Fast Casual Restaurant chain, which currently has more than 40 stores in 12 cities. Founded in late 2010, Cloud9 was seed-funded by Qiming Venture Partners, well known for its highly successful investment in Xiaomi. Over the next year, YPX hopes to add two more brands, be it from the USA or another country that has good brand equity amongst Chinese consumers. Tay says, "We will not add another brand for the sake of adding a brand. It has to have the same core values as the first brand: serving a majority of the Chinese customers with the best food at the most affordable pricing. We have strict principles that we adhere to when developing and nurturing a brand. We do not want to segregate any spectrum of the customers. We want brands that can understand the Chinese consumers' needs and always staying relevant. And it has to be scalable at the same time. We have a solid management team and our reputation of being professional, reliable and accountable attracts many brands from overseas to want to work with us to expand in China."
On the topic of food safety, Tay adds, "food safety is of paramount concern in China. YPX will not compromise on food safety for the sake of growth as these two important objectives are not contradicting. We can do both. A high moral standard and superior transparent management culture are held in very high esteem in YPX."
Mr. Daniel Tseung, MD of LionRock Capital, says, "We are delighted to have a Maybank associated fund as the lead investor in the latest Series D round and look forward to working with Maybank PE, other YPX shareholders, and the company management team in strengthening YPX leading position in the Quick Service Restaurant industry in China."
Mr. Rich Tong of Ignition Partners says, "This latest investment shows that YPX is one of the best teams in the highly competitive food and beverage market. We congratulate them on this great milestone."
About YPX www.ypxfood.com
Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual F&B chains in China. CLOUD 9, the Company's first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 40 stores across China including Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, and Hefei. The Company's management team has a combined F&B chain management experience of over 80 years, having worked in brands like KFC, McDonald's, Burger King, Dicos, Dairy Queen and Yoshinoya. The Company aims to be a leading casual F&B platform in China.
About Maybank PE www.maybank-am.com
Maybank PE is a wholly owned subsidiary of Maybank Asset Management Group Berhad ("MAMG"), which in turn is a wholly owned subsidiary of Malaysian Banking Berhad (Maybank). Maybank PE targets minority investments in the consumer and consumer related segments across the Asian region.
Its parent, MAMG, is Maybank's asset management business unit and offers investors a diverse range of investment solutions. MAMG has in-depth experience in managing investments ranging from equity, fixed income to money market instruments mainly on behalf of and for corporations, institutions, insurance and takaful companies and individual clients. In addition to that, MAMG also offers unit trust and wholesale funds. It has regional footprint and on-the-ground presence in key markets of the region - Malaysia, Singapore, Thailand and Indonesia.
About LionRock Capital http://www.lionrockcapitalhk.com
LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. It is supported by some of the world's most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock's investee companies and investment partners. LionRock seeks to build active, value-added, long-term relationships with company management teams and investors; its Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. The firm's team of seasoned Asian professionals has a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond.
About Ignition Capital http://www.igncap.com
Ignition Capital is the growth equity arm of a $3 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 14 years, they've been working with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. They have seen their companies deal with difficult economic situations while still growing dramatically to either become public companies, or be sold to larger market leaders.
SOURCE YPX Cayman Holdings Co., Ltd
Cryptography has become one of the most underappreciated, misunderstood components of technology. It’s too easy for salespeople to dismiss concerns with three letters that nobody wants to question. ‘Yes, of course, we use AES.’ But what exactly are you trusting to be the ultimate guardian of your data? Let’s face it – you probably don’t know. An organic, grass-fed Kobe steak is a far cry from a Big Mac, but they’re both beef, right? Not exactly. Crypto is the same way. The US government require...
May. 24, 2015 01:00 AM EDT Reads: 3,710
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
May. 24, 2015 01:00 AM EDT Reads: 2,903
SYS-CON Events announced today Sematext Group, Inc., a Brooklyn-based Performance Monitoring and Log Management solution provider, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting and anomaly detection (SPM), log management and analytics (Logsene), search analytics (S...
May. 24, 2015 12:45 AM EDT Reads: 4,973
SYS-CON Events announced today that Stratoscale, the new data center operating system, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Based in Herzeliya, Israel, Stratoscale is redefining the data center, developing a hardware-agnostic, software platform hyper-converging compute, storage and networking across the rack or data center. The self-optimizing platform automatically distributes all physical...
May. 24, 2015 12:30 AM EDT Reads: 2,802
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS soluti...
May. 24, 2015 12:30 AM EDT Reads: 3,470
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public cloud. Consequently this approach requires risky, deep "surgery" including changes to firewalls, subnets...
May. 24, 2015 12:00 AM EDT Reads: 3,989
SYS-CON Media announced today that Blue Box as launched a popular blog feed on Cloud Computing Journal. Cloud Computing Journal aims to help open the eyes of Enterprise IT professionals to the economics and strategies that utility/cloud computing provides. Blue Box Cloud gives you unequaled agility, without the burden of designing, deploying and managing your own infrastructure. It’s the right choice when public cloud just won’t do. Blue Box Cloud is a managed Private Cloud as a Service (...
May. 24, 2015 12:00 AM EDT Reads: 2,699
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 23, 2015 11:00 PM EDT Reads: 2,321
MeriTalk, a public-private partnership focused on improving the outcomes of government IT, today announced the results of its new report, "The Agile Advantage: Can DevOps Move Cloud to the Fast Lane?" The study, underwritten by Accenture Federal Services, reveals that approximately two-thirds of Feds say DevOps will help agencies shift into the cloud fast lane - improving IT collaboration and migration speed. But help is needed, with 66 percent saying that their agency needs to move IT services ...
May. 23, 2015 11:00 PM EDT Reads: 1,555
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
May. 23, 2015 08:45 PM EDT Reads: 1,218
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
May. 23, 2015 08:00 PM EDT Reads: 1,215
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
May. 23, 2015 08:00 PM EDT Reads: 1,773
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 23, 2015 07:00 PM EDT Reads: 1,098
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
May. 23, 2015 06:00 PM EDT Reads: 2,065
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 23, 2015 05:30 PM EDT Reads: 3,807
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
May. 23, 2015 05:00 PM EDT Reads: 1,581
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 23, 2015 05:00 PM EDT Reads: 1,475
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
May. 23, 2015 05:00 PM EDT Reads: 2,104
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
May. 23, 2015 04:00 PM EDT Reads: 5,098
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
May. 23, 2015 04:00 PM EDT Reads: 4,669