China’s Huaxia Dairy Farm Ltd announced it has received $106 million from Singapore sovereign wealth fund GIC and private equity firm Olympus Capital. Huaxia operates three dairy farms with 13,500 cows outside of Beijing, and is constructing a fourth to meet the increasing demand for safe, raw milk. It sells its milk under Wondermilk brand. GIC will be investing $70 million, Olympus Capital will invest $30 million, and a group of other investors including Grand River Capital will be investing the remaining $6 million. This investment will bring Olympus Capital’s total investment in Huaxia to $108 million making it the company’s biggest shareholder.
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