The accounting scandal at China’s Luckin Coffee’s thwarts a backer’s $2.5 billion fund.

 

Centurium Capital’s second fund previously had initial commitments from investors including Washington State Investment Board.

Luckin Coffee’s

The accounting mess at China’s Luckin Espresso Inc. has pressured one in all its high backers to place off its fundraising plans.

Centurium Capital, a three-year-old Chinese language private-equity agency that has a large funding in Luckin, has placed on maintain plans to lift a second fund with a goal dimension of $2.5 billion, in line with individuals aware of the matter. Its determination comes after the espresso chain’s revelation that staff fabricated a lot of its 2019 gross sales.

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