Happy Friday!
I have a mixed bag of deal activity news to present today. To begin with, Prelude Growth Partners announced a minority growth investment into Fly By Jing, a wildly popular Chinese hot sauce maker. The company falls well within Prelude's thesis of supporting brands that cater to the new modern consumer. Founded by a Jing Gao, a chef and renowned expert on Chinese cuisine, the brand has been predominantly digital. "But now it's time to go much more aggressively into mainstream grocery aisles," Neda Daneshzadeh, co-founder of the female-founded firm said over a call last evening.
Apollo's infra bet: Apollo Global Management is investing $200 million in FirstDigital Telecom, a fiber-based carrier in the Western U.S. Dylan Foo,senior Partner and co-head of Infrastructure at Apollo said the firm will leverage its telecoms infrastructure expertise and capital to help the company grow.
Hit me up with thoughts, feedback, tips n’ gossip or whatever at karishma.v@peimedia.com or find me on LinkedIn.
Read the full wire commentary on PE Hub...