Chatea Got 2nd Round VC Fund

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I wrote about Chatea, a Chinese fast food company a while ago. I have been there in my China trip last year. Apparently they are expanding all these years and they just announced a new round of funding. GGV (together with IDGVC, SIG, Neil Shen, TECO and FMCG) invested $10.68 m for 20% stake. Note Neil Shen (co-founder of Ctrip and Home Inns) is on the list again. As suggested in the article, once the estimated market capital reaches $100 m, they will go for IPO (most likely 2008). So stay tuned.

This is another good play for “emergence of Chinese middle class consumers”.


(Update 02-11-2023) It looks like all Chatea restaurants are closed now.

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