Craft beer maker Bira 91 raises $25M from existing investor Kirin Holdings
Craft beer maker Bira 91 has raised $25 million in funding through External Commercial Borrowing (ECB) from its existing investor Kirin Holdings.
The funding marks the conclusion of a larger $50 million round that the company has been pursuing over the past three months. The latest tranche follows a previous $25 million investment from Tiger Pacific Capital in March.
The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each.
Kirin Holdings has the option to convert this ECB into Series D Compulsorily Convertible Preference Shares (CCPS) at a later date.
This infusion values the company at approximately $625 million, based on the latest investment from Tiger Pacific Capital.
