Taiwanese Quick Service Restaurant, YPX Cayman, Completes Third Round of Financing (Asia)

Source: YPX Cayman Holdings

YPX Cayman Holdings, the operator of Chinese restaurant chain Cloud 9, has received an US$11.5 million investment from Chinese private equity firm LionRock Capital, U.S.-based venture capital firm Ignition Capital and Ignition’s Chinese affiliate, Qiming Venture Partners. YPX intends to operate 30 Cloud 9 restaurants, which specialize in Taiwanese cuisine, in China by the end of 2012. YPX plans to use the funding to fuel the expansion of Cloud 9 into eastern and northern China.