China LiNong Raises VC

China LiNong International Ltd., a Chinese producer of high-end green vegetables, has raised an undisclosed amount of VC funding. SIG China Investment led the round, and was joined by Walden International, Sequoia Capital China and PreIPO Capital Partners. 

PRESS RELEASE

Walden International (WI), a leading global venture capital firm, announced today an investment in China LiNong International Limited (“China LiNong”). The Company focuses on the production of high quality green vegetables targeting the mid- to high-end

market and selling through hypermarket channels such as Wal-Mart.

“Although China has the largest worldwide vegetable production, the high-end green vegetable sector is still in the early stage and is very fragmented,” commented Mr. Jeffrey Zeng, who recently transitioned from a Managing Director to an Advisor at WI. He added, “I am extremely excited about this investment and my close relationship with Walden as we continue to work together on opportunities in China.”

China LiNong was founded in March 2004 by Mr. Ma Shing Yung. With extensive experience and considered a visionary by his colleagues, Mr. Ma currently focuses on China mainland domestic demand, although some products are already being exported to Hong Kong and Japan. Already profitable, China LiNong presently operates 16,000 mu of farming land with an expansion plan essentially doubling over the next two years. Mr. Ma commented, “Today is a fast developing economy and China LiNong has an innovative concept to become a household name enterprise in China.”

SIG China Investment One, Ltd. led this financing round; other co-investors included Sequoia Capital China and PreIPO Capital Partners Limited.

About China LiNong International Limited

China LiNong is a corporation of agricultural business that implements standardized cultivation and processing procedures. China LiNong's farmlands are in non-contaminated high quality natural resource areas with production bases from the south to the north of China, from the lowlands to the high mountain areas. China LiNong adopts advanced agricultural technology and management concepts into traditional agricultural production during the production process. To provide customers with a stable supply of the highest quality products, China LiNong implements machinery cultivation, standardized, and formularized cultivation models. Organic fertilizer is primarily used during the production process to ensure the best quality and the freshest taste. The company's combination of advanced technology and management techniques substantially reduce the problems caused by pests, disease or weeds; and, only pesticides or chemicals approved by Japan and the EEC, mainly bio and plant pesticides, to achieve quality sanitary requirements. Every product has an identification card so that customers can easily identify the production site and processing procedures and know with confidence the product is safe and of the highest quality.