Welcome!

SDN Journal Authors: Stefan Bernbo, Michel Courtoy, Amitabh Sinha, Mike Wood, Liz McMillan

News Feed Item

Maybank PE Leads Series D Financing For YPX Cayman Holdings

Looking to capitalize on the strong growth opportunities in China's food & beverage industry, Maybank PE, the private equity arm of Maybank, made its maiden investment in China by investing in YPX

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.

Photo: http://photos.prnasia.com/prnh/20140822/0861406013-a
Photo: http://photos.prnasia.com/prnh/20140822/0861406013-b

"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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
Any startup has to have a clear go –to-market strategy from the beginning. Similarly, any data science project has to have a go to production strategy from its first days, so it could go beyond proof-of-concept. Machine learning and artificial intelligence in production would result in hundreds of training pipelines and machine learning models that are continuously revised by teams of data scientists and seamlessly connected with web applications for tenants and users.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, discussed the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
21st International Cloud Expo, taking place October 31 - November 2, 2017, 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. Me...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
"Outscale was founded in 2010, is based in France, is a strategic partner to Dassault Systémes and has done quite a bit of work with divisions of Dassault," explained Jackie Funk, Digital Marketing exec at Outscale, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo is an innovative cloud service provider offering mid-sized companies the highest levels of data privacy. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalized support service from its globally located cloud platfor...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.