BlackRock Leads $150 Million Investment Round in Luckin Coffee
Posted on 04/18/2019
Luckin Coffee is challenging beverage giant Starbucks Corporation; seeking to displace the American chain in China and in other parts of the world. The Chinese coffee shop company raised US$ 150 million in its latest funding round that was led by BlackRock Inc. US$ 125 million of that money raised came from a private equity fund managed by BlackRock.
Luckin Coffee now has a valuation of around US$ 2.9 billion.
