The third financing process in five months New Coffee Brand MANNER gets a new round of financing of hundreds of millions of dollars

Four days ago, a number of media released news that MANNER, a new local coffee brand in Shanghai, had obtained financing again. Of course, for those who pay more attention to the trends of coffee brands, "coffee brand financing" is no longer a news worthy of capitalization. Today, the MANNER coffee financing incident in the news is once again mentioned because the brand mentioned the financing process three times in just five months. This kind of financing speed is a relatively rare type in the coffee industry.

Here, let's first review the financing process of the new coffee brand MANNER.

On May 24th, 2021, MANNER received a new round of hundreds of millions of dollars of strategic financing exclusively invested by Meituan Dianping's Dragon Ball Capital. (for more information, check out: exclusive Investment! Coffee brand MANNER received hundreds of millions of dollars in financing! )

This round of financing may be used for store expansion and digital investment, after which MANNER may be valued at more than $2 billion.

On February 24, 2021, MANNER completed the A + round financing invested by Singapore's sovereign wealth fund Temasek.

The post-investment valuation is about $1.3 billion.

On December 24, 2020, MANNER completed the strategic financing of H capital, a private equity fund launched by Chen Xiaohong, a former global partner of Tiger Fund, and Coatue Management, a hedge fund.

On October 19, 2018, MANNER completed a round of financing of RMB 80 million from today's capital investment, which is the first financing since the establishment of MANNER.

From December 24th to May 24th, it happens to be five months. In these five months, MANNER, a new local coffee brand in Shanghai, has mentioned the financing process three times, and each round of investors has a good background!

one.

Behind the capital

On May 24, MANNER received an "exclusive" investment from Meituan Dragonball Capital. Behind this "exclusive", it was reported that a number of head institutions also participated in the competition, but failed to get investment share.

Since MANNER began financing in October 2018, MANNER has introduced five major investors: today's Capital, H Capital, Coatue, Temasek and Dragonball Capital.

Public information shows

Today's Capital

Today Capital is an international investment fund focused on the Chinese market, independently managing 2.5 billion US dollars of funds, mainly from a number of famous overseas investment institutions, focusing on retail, consumer goods, health care, Internet and other industries.

Today Capital, as the first round financing investor of MANNER, has more shares in MANNER than the founding team by the end of 2020, according to IPO early know.

In March this year, Today Capital also sent senior executives to deeply participate in the daily management of the MANNER coffee brand. Jin Binbin, the capital investment manager, mainly led the operation and management of MANNER Coffee Company. "IPO knew" also pointed out in the report that Jin Binbin now plays the role of general manager of CEO/ within MANNER, while Han Yulong and Lu Jianxia are more focused on the research and development of specific products.

H Capital 、 Coatue

H Capital, the full name of Merrill Lynch Asset Management Group, is a private equity fund founded in 2014 by Chen Xiaohong, a former global partner of Tiger Fund, with renminbi and dollar funds, while Coatue, a New York-based hedge fund, has invested in Ding Dong Buy, Tea, KEEP and other projects in China.

Temasek

Temasek, founded in 1974, is an investment company established in Singapore. Temasek, which has been in China for 16 years, has invested in a number of large domestic commercial banks and bet on many Chinese Internet giants such as Ali, Tencent and Xiaomi.

Dragon Ball Capital

Dragon Ball Capital is Meituan's industrial investment fund. In recent years, it can be seen behind many well-known consumer brands.

Founded by Meituan as a cornerstone investor in 2017, it is a market-oriented professional investment institution focusing on the field of large consumption. its first phase of the fund raised 2 billion yuan in July 2018. investors include industrial investors such as Meituan, Tencent and New Hope, as well as well-known investment institutions such as Guochuang Kaiyuan Mother Fund, Noah Goofi, Xiangjiang Shengshi Mother Fund and China Merchants Capital Fund.

Three rounds of financing were obtained in less than five months, which is rare for the coffee industry.

The new coffee brand MANNER has been frequently settled by so many senior investors, on the one hand, it has injected new impetus into the development of MANNER Coffee, on the other hand, under the expansion of capital support, it has also proved that the capital and the market have highly recognized MANNER Coffee.

According to earlier reports from IPO, an investor close to MANNER said: "this year may be in a bit of a hurry, but at this rate of growth, the possibility of IPO next year and the year after next is not small. In fact, the profit situation of MANNER is quite good."

So, what is the origin of this coffee shop?

two.

New coffee brand MANNER

Coffee brand MANNER was founded in 2015. In the early days, it focused on 10 yuan high-quality coffee in the form of stalls.

The MANNER coffee brand was co-founded by Han Yulong and his wife. Data show that Han Yulong is an avid coffee enthusiast who once opened a coffee shop in his hometown of Nantong. In the early days, Han Yulong did a lot of research on coffee bean roasting, coffee machine maintenance, coffee flower drawing and so on, but he was forced to develop in the coffee market in Shanghai because Nantong was not very receptive to local brands at that time. Before founding the MANNER coffee brand, Han Yulong also worked as a roaster in the prestigious Cafe del Volc á n boutique cafe in Shanghai.

After selecting the urban development, Han Yulong opened his first MANNER store on Nanyang Road in Shanghai in 2015, but due to economic and other reasons, the initial MANNER store area is only 2 square meters, only supporting take-out services.

MANNER Shanghai Nanyang Road head Store

In terms of products, MANNER Coffee stores are mainly affordable boutique coffee, and equipped with La Marzocco gs3 single-head coffee machine, Mahlkonig Devil King bean grinder and Mazzer Robur bean grinder three high-end equipment, coupled with cheap, by netizens as "the king of Shanghai coffee sex-price ratio" coffee, and therefore quickly out of the circle in Madu.

In 2019, MANNER began to expand its stores nationwide with Shanghai as its base, and successively set up stores in Suzhou, Beijing, Chengdu and Shenzhen.

MANNER opened only three stores in the first three years (2015-2018). By the end of 2019, the number of MANNER stores had risen to more than 50.

In early December 2020, MANNER Coffee announced the opening of 30 new stores across the country and 30 new stores in Shanghai, Beijing and Shenzhen, mainly in Shanghai.

Up to now, MANNER Coffee has 150 stores in China.

In terms of products, MANNER Coffee is also constantly expanding its product line and layout diversified consumer scenarios.

For example, in terms of products, MANNER Coffee set up its first bread baking workshop in Shanghai in early 2019. MANNER Coffee has gone from the early only affordable boutique coffee to now its products include Italian, iced, hand-brewed, bread, portable coffee bags, boutique raw beans, oatmeal milk, coffee utensils / equipment / cups, peripheral products and other whole industry chain products.

In the consumption scene, the consumption in the store scene has expanded from the store scene with no chairs and no delivery to the current online consumption services, such as MANNER developed the brand smart order Mini Program and officially settled in Tmall in August last year.

While expanding its stores, MANNER will also expand its product line.

Last.

For Han Yulong, a post-85 boy, MANNER Coffee is not only coffee, but also a small coffee industry chain, which may be the advantage of Han Yulong opening a cafe.

According to the current trend, MANNER may become the dark horse of the domestic coffee track.

* Image source: Internet