The investment has now been finalised, two weeks after CDIB invested $19m in Meilele via a convertible bond issue to support its expansion plans, said the Asian Venture Capital Journal.
Meilele has plans to open new showrooms across the coutnry and develop new products.
CDIB managing director said, “We have been following Meilele’s development for well over 2 years and are very impressed with the company’s achievements thus far.
“We believe the company is well positioned to become the category leader in this vast but fragmented furniture industry in China.”
Back in March CDFH launched a private equity fund to focus on local business operating in “creative” industries. CDIB provided 40 per cent of the fund’s paid in capital of NT$1.5bn ($50m).
The fund will invest in businesses that are looking to expand into China as the Taiwanese market is still too small.
CDIB has also recently invested in duty free operator Flemingo, which is looking to increase its presence in Asia.
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