Core Insights - KKR, a global investment giant managing $723 billion in assets, announced an additional investment in the fungal biotechnology company Shierfeng through its dollar fund and first RMB fund, marking its second major investment since 2018 [1][10] Investment Background - The transaction traces back to 2018 when KKR invested approximately 2 billion RMB in Jiangsu Yuguan Modern Agricultural Technology Co., founded by Huang Jianguang, known as the "Mushroom King" [2][11] - Following KKR's investment, Jiangsu Yuguan's Dainan base became the world's largest single-unit producer of white mushrooms, generating annual revenue of 500 million RMB [2][11] - KKR assisted Jiangsu Yuguan in acquiring the American company Shierfeng, established in 1932, which focuses on developing sustainable solutions in food, health, agriculture, and materials [2][11] Investment Consortium - The investment round led by KKR attracted several renowned global investment institutions, showcasing a diverse investment consortium [3][12] - Notable participants include TPG NewQuest, Ping An Capital, Zhongyou Insurance, Schroders Capital, and Novo Holdings, indicating strong international interest in China's biotechnology market [4][12] Strategic Importance - KKR's follow-on investment in Shierfeng represents a significant step in its strategy to expand in the Chinese market, with KKR's assets under management reaching $723 billion as of September 30, 2025 [5][14] - KKR has accelerated its investment pace in China, with its first onshore RMB fund officially launched in Shanghai in August 2025 [6][14] Fungal Biotechnology Sector - The fungal biotechnology industry, represented by Shierfeng, is becoming a key area for global sustainable development, with China producing 75% of the world's edible fungi [15][16] - Shierfeng is developing high-value products such as fungal-based materials, biopesticides, and nutritional supplements, which contribute to the broader "fungal economy" [7][15] Future Trends - KKR's investment in Shierfeng signals increasing international capital interest in China's agricultural technology and biotechnology sectors, particularly in sustainable and innovative projects [8][16] - The integration of traditional agriculture with high-tech biotechnology is accelerating, creating new industry opportunities as the boundaries between food, health, agriculture, and materials blur [8][16]

本报讯(记者韩昱) 1月21日，《证券日报》记者获悉，全球投资公司KKR当日宣布通过其管理的基金完成对施尔丰的新一 轮投资。施尔丰成立于1932年，致力于开发利用真菌生物体系的潜力，创造可持续的解决方案，以应对 食品、健康、农业和材料领域的全球性挑战。如今，该公司在全球运营着多个生产基地，为65个国家的 客户提供服务。 此轮融资同时由新投资者参与，现有投资者诺和控股继续参与本轮融资、追加持有份额。本次投资完成 后，KKR继续作为施尔丰的控股股东。 KKR是一家提供另类资产管理、资本市场与保险解决方案的投资机构。KKR合伙人兼中国私募股权业 务负责人孙铮表示："在我们双方的战略合作下，施尔丰实现了持续增长，包括强劲的扩张、研发升级 和战略收购。我们与管理层紧密合作，拓展了施尔丰在全球真菌生物技术及更广泛领域的布局。KKR 很高兴欢迎来自海外和中国的新投资者加入我们，共同支持施尔丰扩展其平台和全球影响力。" 据了解，此轮新追加的投资标志着KKR对施尔丰下一阶段扩张计划的持续支持，包括提升产能、强化 研发能力、拓展高增长产品线，并深化公司在亚洲快速工业化蘑菇及生物制品市场的布局。 ...