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Yonghui Fresh Food, a B2B grocery and catering startup, looking to raise around $200 Million

Yonghui Fresh Food, a B2B grocery startup of China’s retail giant Yonghui Superstores, is reportedly looking to raise $200 million. The news came ahead of the Hong Kong Initial Public Offering event expected to happen in 2023. Yonghui Fresh Food is eyeing to bring its valuation to 1.5 billion, or around 10 billion yuan. The investors of the grocery supplier include Sequoia Capital China, Tencent Holdings Ltd., and Hillhouse Capital Group, as Bloomberg reported. Yonghui Fresh Food offers fresh produce and catering services to corporate customers in China.

Full story: DealStreetAsia 

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