Centurium Capital raises US$2bil from Singapore's Temasek and others

Capital boost: Customers sit inside a Luckin Coffee shop at a shopping centre in Beijing. Centurium Capital is a big backer of domestic startup Luckin Coffee. Besides Luckin, Centurium’s portfolio firms include Keking, an online logistics services provider, China Biologic Products, a biopharmaceutical firm which makes and sells plasma products, and online education platform Happy Kids Education. — AP

HONG KONG: China’s Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than US$2bil in its debut fund, giving the private equity firm more firepower to cut deals involving the world’s second largest economy.

The firm, co-founded by the former head of Warburg Pincus Asia Pacific, David Li, said in a statement that Centurium Capital Partners 2018 LP raised the sum in US dollars.