PE-Backed Nuts Retailer Three Squirrels Plans A-Share IPO

A popular nuts and snacks e-commerce retailer Three Squirrels, backed by IDG Capital Partners and Chinese private equity firm Capital Today, is reportedly seeking an A-share listing with the help of China International Capital Corporation (CICC), according to Chinese media reports.

The company is still in the early stage of its IPO process, and no financial details have been determined.

Founded in 2012, Three Squirrels recorded RMB2.5 billion (US$383 million) in sales last year and is the largest snacks retailers on Alibaba's Taobao and TMall e-commerce platforms.

The company received US$1.5 million series A funding from IDG Capital at the time of its establishment.

In 2013, it received US$6.17 million series B round from IDG Capital and Capital Today.

In 2014, IDG and Capital Today invested RMB120 million (US$18.4 ...

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